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County hears updated Banks concept calling for mixed-use development and public investment to bridge feasibility gap
Summary
Perkins and Will and HR&A presented a preferred concept to redevelop five county-owned lots at the Banks with a majority residential program, up to ~1,200 multifamily units and a proposed high-rise node (Lot 24 ~24 stories); presenters estimated $750–800 million in development costs for the parcels and said public infrastructure investment would be needed to make the project feasible.
Perkins and Will, working with HR&A and MKSK, presented an updated concept plan to the Hamilton County Board of County Commissioners on Nov. 18 for the Banks riverfront district, focusing on five remaining county-owned lots west of Vine Street.
Phil Beck, the Banks project executive, described a year-long steering committee process that included city, county and venue partners. Andrew Broderick of Perkins and Will said the team is sharing “a preferred concept” that is not a final plan and that the work will advance through further advisory-group meetings and plan approvals in 2026. Broderick emphasized placemaking, improved public space at the Freedom Center terminus and stronger pedestrian connections across the district.
Mark Bobczyk of HR&A summarized the market analysis and financial feasibility work, recommending residential-led development and projecting demand for up to about 1,200 multifamily units across the study area. Bobczyk said the analysis estimates development costs and supporting parking could be roughly $750 million to $800 million for the five parcels and described a likely need for public subsidy to close feasibility gaps under current market conditions.
Design and program details presented include a festival street concept on Freedom Way, a unified plaza at the Freedom Center, structured parking integrated into building bases and a stepped skyline with Lot 24 positioned as a taller, potentially ~24-story, anchor. Commissioners questioned building heights, view impacts, ownership and governance of the project, and who would make final decisions on land use and public investment. Commissioner Reese said the timing and scale require caution given county budget pressures and urged that the Freedom Center’s mission be protected from adjacent entertainment uses.
Presenters gave a mid-December to January schedule for further steering committee and advisory meetings and said formal plan approvals and zoning updates would move into 2026.
