The Banks Phase IA
Carter serving as master developer and program manager of The Banks, Phase IA on the Ohio River.
The Banks mixed-use development is ideally located on the Ohio River, situated between Paul Brown Stadium to the west, the National Underground Freedom Center and Great American Ball Park to the east, and the Roebling Suspension Bridge to the south.
Phase IA of the riverfront development was completed in 2013 and features a revised street grid, 5,500-space parking facility, 300 apartments and 96,000 square feet of retail, creating a one-of-a-kind destination where people can live, work and play. Phase IA also includes the separate land parcel occupied by Yard House restaurant. A separate 2.6 mile streetcar line is currently under construction that will link The Banks to Cincinnati’s Downtown.
Current at The Banks, completed in 2010, consists of 300 luxury apartments set atop street-level retail; the apartments are 100% leased and have maintained a waiting list since 2013. Residents enjoy views of the Ohio River, downtown Cincinnati and the Roebling Bridge. The LEED Silver development is located adjacent to the new 45-acre Smale Riverfront Park.
The retail portion of Phase IA of The Banks is currently 91 percent leased, with only one space available for occupancy. Phase IA at The Banks has created more than 3,600 net new permanent jobs and has already attracted new national retailers and residents to Cincinnati, with a combined (public/private) impact of $574 million.
In October 2013, a portion of Phase IA of The Banks was sold; this included Current at The Banks and the ground-floor retail below the apartments. Shortly thereafter, in January 2014, the development team announced the successful sale of the retail outparcel consisting of 11,000 square feet occupied by Yard House. Carter continues to own the remaining portions of The Banks Phase I, which includes one outparcel for a future restaurant pad located across from Yard House, as well as the Phase IB hotel and office sites.
Scope of Services
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