Two projects announced today total $81.4M investment along phase one route

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The Banks Phase IITwo big economic development announcements were made today for projects along the phase one route of the Cincinnati Streetcar.

The first announcement was for phase two of The Banks. The $67 million development will be located one block west of the streetcar route and will include 21,000 square feet of street-level retail space and 305 apartments in a 9-story tower.

The developers say that construction will begin this December and then welcome its first residents and shoppers in the fall of 2015.

There is no official word yet, but phase one is still awaiting announcements on a hotel, office tower and townhomes that will all be located directly along the phase one route.

The second big announcement was about the financing being secured for Cintrifuse’s new headquarters in historic Over-the-Rhine. The $14.4 million project will renovate three historic buildings along Vine Street, just a block away from the phase one streetcar route, and create 30,000 square feet of office space.

It is expected that 3CDC and its development partners will begin work on the project this September and finish the project by November 2014.

Another day. Another $81.4 million in investments along the first phase of the Cincinnati Streetcar system.

Oh yeah, approximately 33,000 people visited Washington Park over the past two nights to enjoy LumenoCity. Many of those guests were looking for ways to get around on the crowded streets afterward, and were yearning for future streetcar service.