CINCINNATI, OH (FOX19) - Construction on a new $29.3 million project at The Banks project Downtown kicks off with a 9:30 a.m. ground breaking Tuesday at the intersection of Race Street and Freedom Way.
Cincinnati Mayor John Cranley, Hamilton County Commission President Greg Hartmann and others are expected to attend.
The next phase will include the creation of 690 parking spaces on two levels just south of General Electric's U.S. Global Operations Center and a new apartment complex.
The city of Cincinnati, Hamilton County and Jobs Ohio are funding the $29.3 million expansion of the riverfront development, which will create 200 construction jobs at its peak.
Small business enterprises will receive 30 percent of the contract total spent. When the parking infrastructure is complete, there will be room for 320,000 to 400,000 square feet of private development above the garage.
Here's the project breakdown:
- Phase IIIA of public infrastructure will result in 690 parking spaces on two levels and one block of Race Street.
- Phase IIIA’s total cost is funded by the city, county and Jobs Ohio.
- At the height of its construction, Phase IIIA will produce 200 jobs for working tradespeople, with 30 percent of the contract total spent with Small Business Enterprises.