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Cincinnati City Council unanimously approved an updated urban design plan for The Banks redevelopment, clearing a major planning hurdle for a project estimated at $750 million to $800 million. The proposal would transform the final undeveloped parcels of The Banks with housing, retail, hospitality, and public gathering spaces. The redevelopment plan could add approximately 1,800 residential units, new hotel accommodations, and expanded pedestrian connections along the riverfront. Additional approvals, financing arrangements, and developer selection processes must occur before construction begins.
Cincinnati City Council has unanimously approved an updated urban design plan that could transform the final undeveloped portions of The Banks into a mixed-use district featuring housing, retail, hospitality, and expanded public spaces.
The approval clears a major planning hurdle for a redevelopment effort estimated to cost between $750 million and $800 million.
The project focuses on five vacant parcels surrounding Paycor Stadium and aims to create a more active neighborhood that attracts residents and visitors throughout the year, according to FOX19. The plan now advances to the next phase, where city and county leaders will seek a master developer and finalize financing strategies.
The Banks redevelopment vision takes shape
The updated vision seeks to shift The Banks from an event-focused entertainment district into a year-round urban neighborhood.
According to project planners, the redevelopment would add significant residential development, retail opportunities, hospitality uses, and new public gathering spaces. FOX19 reported that three of the vacant parcels could accommodate more than 1,800 apartments, while another parcel could host a hotel with approximately 100 to 150 rooms. Additional retail development is also planned to support daily activity beyond Bengals and Reds game days.
The proposal was developed by a team led by Perkins&Will and MKSK Studios following nearly a year of planning and public engagement. The firms presented a long-term strategy designed to increase density, improve connectivity, and strengthen the relationship between downtown Cincinnati and the Ohio River.
According to FOX19, the project could generate approximately 2.5 million square feet of new development across the remaining vacant sites. The plan also includes substantial residential construction, hotel space, retail uses, restaurants, and flexible development opportunities for future market conditions.
The Banks redevelopment includes new public spaces
A major component of The Banks redevelopment focuses on public infrastructure and pedestrian connectivity.
Project planners have proposed several new public amenities intended to make the riverfront more accessible and active throughout the year. According to FOX19, the concepts include:
- Bengals Plaza near Paycor Stadium
- Race Street Plaza connecting downtown and the riverfront
- A serpentine pedestrian bridge over Mehring Way
- Potential caps over Fort Washington Way
- Expansion of western riverfront park areas
- Improvements to Freedom Way
- A centerpiece public gathering plaza
These improvements aim to create stronger connections between downtown, The Banks, Smale Riverfront Park, and surrounding entertainment venues. Project leaders say the goal is to encourage more everyday use of the district rather than relying primarily on major sporting events and concerts.
Local leaders support long-term riverfront growth
City officials and planning leaders have described the proposal as an important step in Cincinnati’s long-term growth strategy.
Assistant City Manager William “Billy” Weber previously called the project a regional win during Planning Commission discussions. The Cincinnati Planning Commission unanimously approved the proposal before it moved to City Council.
The redevelopment effort has received attention from multiple local media organizations. WCPO reported that the final vision includes up to 1.5 million square feet of residential development, additional retail and restaurant space, and expanded public amenities designed to strengthen the riverfront district.
CityBeat also reported that the proposal outlines a 15-year vision for developing the final riverfront parcels while creating new housing, hospitality, and commercial opportunities.
The project represents one of the largest redevelopment efforts currently under consideration in Cincinnati. Supporters argue that additional housing and mixed-use development could help create a more vibrant downtown environment while generating long-term economic activity.
Challenges remain before construction begins
Although City Council’s approval marks a significant milestone, construction is not expected to begin immediately.
According to FOX19, city and county officials must still identify a master developer, secure financing, negotiate development agreements, and complete additional planning work before projects move forward. Officials estimate the full redevelopment could take between 10 and 15 years to complete.
Financing may remain one of the largest challenges. Earlier planning documents identified a potential financial gap between development costs and project value, which could require public-private partnerships or other funding mechanisms.
Nevertheless, the City Council vote signals strong support for the vision and positions Cincinnati to move forward with one of the most ambitious riverfront redevelopment efforts in its history. If completed as proposed, The Banks redevelopment would significantly expand residential living, retail activity, public gathering spaces, and riverfront connectivity in the city’s urban core.
FAQs
What did Cincinnati City Council approve for The Banks redevelopment?
City Council approved the updated urban design plan for the next phase of The Banks redevelopment. The approval establishes a framework for future development on several remaining vacant riverfront parcels but does not authorize immediate construction.
How much is The Banks redevelopment expected to cost?
Project planners estimate the redevelopment will cost between $750 million and $800 million. The investment would support residential buildings, retail space, hospitality projects, infrastructure improvements, and public amenities.
What types of development are planned for The Banks?
The proposal includes residential housing, retail and restaurant space, hotel development, office opportunities, and new public plazas. Plans also call for improved pedestrian connections between downtown Cincinnati and the riverfront.
When will construction begin on The Banks redevelopment?
Construction is not expected to begin immediately. City and county officials must still select a master developer, secure financing, negotiate agreements, and complete additional planning and approval processes before work can start.
