Key Takeaways

• On May 15, 2026, the Cincinnati Planning Commission unanimously approved The Banks Urban Design Plan Update and sent it to the Cincinnati City Council for final action.
• The plan represents an estimated $750–$800 million investment, a 10–15 year buildout, roughly 2.5 million gross square feet of new commercial development, roughly 1.5 million gross square feet of residential, including a hotel, and approximately 860–1,210 residential units across the remaining parcels around Paycor Stadium.
• The remaining lots are expected to include residential-focused development on Lots 1, 24, and 25; office-led mixed use on Lot 4; and a hotel on Lot 13, with retail, commercial space, restaurants, bars, and public amenities woven throughout.
• For Ohio Valley contractors, the Cincinnati redevelopment is likely the most significant downtown Cincinnati construction pipeline in a generation, coming at a time when the region already faces an estimated 60,000-worker construction workforce shortage.
• ABC Ohio Valley is positioning merit shop contractors to compete through apprenticeship, workforce development, safety training, and advocacy for open, competitive access to this work.

Introduction: A New Chapter for The Banks Cincinnati

On May 15, 2026, the Cincinnati Planning Commission unanimously approved The Banks Urban Design Plan Update and a major amendment to Planned Development District 43, moving one of the region’s most important riverfront redevelopment plans to Cincinnati City Council for final adoption later in 2026. For contractors, this is not just a planning headline. It is a signal that the next major wave of work at the banks is moving from concept into execution.

The plan focuses on the last major undeveloped and under-utilized riverfront blocks around Paycor Stadium, located between Great American Ball Park to the east and the western edge of downtown. The sites tie directly into Smale Riverfront Park, the Ohio River, the Brady Icon Music Center area, and the broader Riverfront Park system that has helped make this part of Cincinnati a year-round destination.

ABC Ohio Valley is looking at this plan from the perspective of commercial contractors, specialty trades, suppliers, and merit shop employers. The core question is simple:

What should Ohio Valley construction leaders do now to position their companies for the largest piece of downtown work in a generation?

Project Scope: Dollars, Square Footage, and Remaining Parcels

The proposed Bank Cincinnati buildout is large by any local measure. Public reporting and planning discussions point to approximately $750–$800 million in private and public investment over a phased 10–15 year schedule.

The development program is expected to include roughly 2.5 million gross square feet of new commercial development plus an additional 1.5 million gross square feet of residential, including a hotel component. Residential planning assumptions indicate approximately 860 to 1,210 new units across the remaining parcels, with sufficient housing capacity to support thousands of new residents on the riverfront.

The five focus parcels are:

• Lot 1: tentatively residential-focused
• Lot 4: office-led mixed use
• Lot 13: hotel north of Paycor Stadium
• Lot 24: residential-focused, with an institutional component in the base
• Lot 25: residential-focused

Retail and commercial uses are expected at the ground level of each lot. That matters because the development is not being designed as isolated towers. It is being planned as a dense urban district capable of supporting game-day crowds, visitors, residents, downtown employees, and the existing entertainment economy.

The expanded Bengals Plaza is also central to the plan. The plaza is intended to handle Paycor Stadium crowd flow, pregame and postgame gatherings, concerts, civic events, and other large public uses. Additionally, planning concepts have included a discussion of a potential grocery store anchor to serve new residents, workers, and visitors seeking daily services without leaving the riverfront.

This is where the current residential market matters. Current at The Banks offers studio, one-, and two-bedroom floor plans with amenities such as in-home washer and dryers, private balconies, and granite countertops. Radius at The Banks features open-concept living with hardwood-style floors, high-end kitchens, and walk-in closets, along with a 24/7 fitness center and a large pool. The Banks residential options offer stunning city and river views, enhancing the living experience.

The existing properties show that people already want to live in this location. The new plan is designed to multiply that demand.

Design Vision and Team: Who Is Shaping The Banks Riverfront

The design team behind the updated plan brings together expertise in urban design, public realm, mobility, finance, and implementation.

Perkins and Will is the lead urban design architect. The broader consultant team includes MKSK Studios for landscape and public realm work, Kolar Design for wayfinding and experiential graphics, Nelson Nygaard for mobility, transit, parking, and pedestrian circulation, and HR&A Advisors for market, finance, and feasibility.

According to The Banks Public Partnership’s 2026 Q1 progress update, the update followed months of existing-condition review, market analysis, stakeholder engagement, public input, and opportunity mapping for the five remaining lots.

The update has been led through The Banks Public Partnership under Project Executive Phil Beck, AIA, LEED AP. Assistant City Manager William “Billy” Weber has described the plan direction as a “win for the region,” reflecting the city’s view that completing the riverfront is a regional economic priority.

Key design moves include:

• A more continuous urban street wall with reduced setback constraints
• Mixed-use towers framing public spaces and major event areas
• Active ground-floor uses along streets, plazas, and park edges
• Better pedestrian circulation between downtown, Paycor Stadium, Smale Riverfront Park, and the Ohio River
• A stronger public realm around Freedom Way and the National Underground Railroad Freedom Center

The design direction also responds to the cultural and civic context of the place. The National Underground Railroad Freedom Center is a museum exploring the history of the Underground Railroad and the fight for inclusive freedom. The Cincinnati Black Music Walk of Fame is a free, interactive outdoor park celebrating the legacy of influential Black musicians from the region. Those assets are not side notes; they shape how the riverfront should be planned, built, and respected.

Site Plan Details: Paycor Stadium, Smale Riverfront Park, and Bengals Plaza

The Banks Cincinnati occupies one of the most visible development sites in Ohio. It sits along the Ohio River, between Paycor Stadium on the west and Great American Ball Park on the east, with downtown immediately to the north and Smale Riverfront Park along the southern edge.

For visitors, it is already a place to explore before a game, after a concert, or on a weekend night. The Banks features a vibrant nightlife scene with live music and entertainment, making it a popular destination for evening activities. The Andrew J Brady ICON Music Center at The Banks hosts a variety of musical acts across genres, offering both indoor and outdoor concert venues. For searchers and visitors who use lowercase terms, the Andrew J. Brady Icon Music Center is already one of the district’s best-known anchors.

The Designated Outdoor Refreshment Area (DORA) at The Banks allows guests to carry drinks from over 18 bars and restaurants throughout the entertainment area, enhancing the lively atmosphere. The Dora framework is part of what makes the district function as more than a stadium zone. It has become a destination for food, drinks, music, and gathering.

The park edge is just as important. Smale Riverfront Park spans over 40 acres along the Ohio River and connects Bicentennial Commons and Sawyer Point, forming a nearly 3-mile corridor of public park space. The park features walking trails, water features, swings, and a carousel named Carol Ann’s Carousel, which includes 44 characters and illustrations of Cincinnati landmarks. Smale Riverfront Park has been ranked by USA Today readers as one of the Top 5 Riverwalks in the nation, highlighting its appeal as a recreational destination.

That public investment changes the construction value of the remaining lots. Residential, hotel, office, and retail uses at the banks are not being built in a vacuum. They are being built next to one of the strongest public spaces in the Midwest.

Important site plan elements for contractors to watch include:

• Expanded Bengals Plaza: larger event space north and east of Paycor Stadium
• Pedestrian bridge or elevated connection: improved access between new blocks and Smale Riverfront Park
• Potential grocery store anchor: a daily-use amenity for residents and downtown workers
• Reduced setback constraints: more efficient mixed-use vertical construction
• Active ground floors: restaurants, retail, bars, lobby, and service uses that support both daily life and event surges

This location offers a rare form of demand: residents who want a home near the river, office users who want downtown access, fans who visit on game days, and visitors who come for music, restaurants, and the park.

Governance, Approvals, and Timeline: How Decisions Will Be Made

The governance structure matters because it will influence timing, procurement, infrastructure funding, and final deal terms.

The Banks is governed through The Banks Public Partnership, a working partnership between the City of Cincinnati and Hamilton County. In practical terms, decision-making is shared 50-50 between the Cincinnati City Council and the Hamilton County Board of Commissioners. Contractors should understand that this is not a single-owner private development.

Longstanding agreements with the Cincinnati Bengals at Paycor Stadium and the Cincinnati Reds at Great American Ball Park also give those ownership groups a meaningful role in shaping what happens on adjacent parcels. That does not mean the teams control every decision. It does mean stadium operations, event flow, views, access, security, and fan experience will influence design and construction logistics.

The current approval path is:

1. Planning Commission approval: completed unanimously on May 15, 2026
2. Cincinnati City Council review: hearings and final vote expected later in 2026
3. Zoning and PD-43 amendment adoption: required before full implementation
4. Infrastructure and site preparation packages: likely phased in the late 2020s
5. Vertical construction: expected in waves over roughly 10–15 years

The City of Cincinnati’s project page for the Urban Design Plan Update and PD-43 amendment is the page contractors should monitor for formal action, documents, and public meeting updates.

Hamilton County commissioners have raised legitimate questions about funding obligations, public infrastructure costs, timing, and cost-sharing. Those concerns are real. Floodplain elevation, stormwater, utility relocation, structured parking, and public realm improvements all carry cost and schedule risk.

But the direction of travel is clear. Cincinnati’s front yard is moving from long-range planning into a pre-construction and entitlement phase.

Regional Context: The Banks Within a Broader Ohio Valley Construction Boom

The Banks Cincinnati redevelopment is not happening in isolation. It is landing in the middle of a much larger Ohio Valley construction cycle.

Contractors are already tracking Intel’s semiconductor investment in central Ohio, manufacturing and logistics growth along the I-75 corridor, healthcare and higher-ed construction in cincinnati and Dayton, and continued development pressure in Northern Kentucky and Southeastern Indiana. Infrastructure funding is also flowing into bridges, interstates, utilities, transit, parks, and riverfront access.

That broader context changes how contractors should think about the banks. This is not one project to chase. It is part of a multi-decade pipeline that will affect workforce planning, bonding capacity, equipment purchases, safety staffing, estimating, and project management.

For Ohio Valley contractors, the opportunity is substantial. So is the competition.

The companies that will be ready are the ones that treat 2026 and 2027 as preparation years rather than waiting years.

Workforce Stakes: A 60,000-Worker Gap Meets a 15-Year Buildout

ABC Ohio Valley estimates that the region faces an approximately 60,000-worker shortage in the construction workforce across its broader service area. That shortage is driven by retirements, demographic shifts, increased project volume, and competition from industrial, data center, healthcare, energy, and infrastructure work.

Now add a $750–$800 million mixed-use riverfront program to the market.

A project of this size will need sustained labor across almost every major commercial trade. The banks will not be staffed by one mobilization. It will require a long-term workforce pipeline.

The most relevant ABC Ohio Valley apprenticeship trades include:

• Carpentry
• Craft Labor
• Electrical
• HVAC
• Pipefitting
• Plumbing
• Roofing
• Sheet Metal
• Sprinkler Fitter

This is also where the merit shop reality becomes central. Roughly nine out of ten construction workers in the Ohio Valley are non-union. That means merit shop contractors will be essential to delivering the work safely, competitively, and on schedule.

If your company has not started scaling its workforce pipeline, the May 15 Planning Commission approval should be treated as the start gun.

That does not mean hiring for a job that has not yet been bid. It means enrolling apprentices, identifying future foremen, strengthening superintendent depth, training project managers, and making sure your safety documentation and prequalification materials are ready before procurement begins.

Implications for Merit Shop Contractors: Opportunity and Competitive Positioning

The Banks Cincinnati redevelopment is likely the most significant downtown construction opportunity in a generation for merit shop firms across the Ohio Valley.

Large regional general contractors will likely lead major parcels. But the opportunity for mid-sized contractors, specialty firms, suppliers, and trade partners will be substantial. Mixed-use vertical development creates a deep scope across core and shell, interiors, site work, public realm, structured parking, hospitality, retail, and residential finish packages.

Contractors with experience in the following areas should pay close attention:

• High-rise multifamily construction
• Podium construction and structured parking
• Steel and concrete framing
• Complex mechanical, electrical, plumbing, and fire protection coordination
• Hotel fit-out and hospitality interiors
• Retail and restaurant buildouts
• Façade systems and exterior enclosure
• Roofing, sheet metal, and waterproofing
• Plaza hardscape, landscape, lighting, and site furnishings
• Urban civil work with limited laydown and traffic constraints

The reduced setback framework under the zoning amendment could make the sites more efficient from a development standpoint. It also increases complexity for construction teams. Dense urban vertical work requires careful sequencing, crane planning, pedestrian protection, logistics coordination, material deliveries, and event-calendar awareness.

On a project this visible, contractors should also expect heightened scrutiny around:

• Safety performance
• Quality control
• Workforce development
• Schedule reliability
• Community impact
• Documentation and reporting
• Supplier and subcontractor capacity

ABC Ohio Valley’s role is to be the voice of merit shop contractors in that environment. Open, competitive procurement matters. Contractors should be selected based on safety, quality, value, capability, and performance, not mandated labor models.

Near-Term Actions: What Contractors Should Be Doing Now

Contractors do not need to wait for cranes to appear before taking action. The right preparation window is now.

Here are the moves to make in 2026:

1. Track City Council action
   Watch Cincinnati City Council hearings, public comment opportunities, zoning amendments, and PD-43 adoption steps through late 2026.
2. Monitor The Banks Public Partnership
   Follow updates from The Banks Public Partnership, city staff, and Hamilton County staff. Procurement intelligence will come in phases.
3. Build relationships with likely primes
   Engage general contractors with experience at the banks, Paycor Stadium, Great American Ball Park, downtown Cincinnati, and other dense urban projects.
4. Prepare mixed-use bid teams
   Expect packages that combine residential, retail, open space, garage, plaza, and infrastructure elements. Estimating teams should be ready for multi-phase work.
5. Strengthen safety and prequalification files
   Update EMR data, OSHA logs, safety manuals, project resumes, insurance information, bonding capacity, and workforce documentation.
6. Invest in people
   Scale apprenticeship enrollment, develop foremen, train superintendents, and identify project managers who can operate in a constrained downtown location.
7. Plan for logistics
   The site will require coordination with stadium events, riverfront visitors, traffic limits, limited laydown, night restrictions, and noise windows.
8. Stay close to public realm work
   Work connected to Smale Riverfront Park, the riverfront park corridor, plazas, pedestrian links, lighting, hardscape, and landscape may be procured through different paths than vertical development.

The contractors that win will not be the ones who simply hear about the RFP. They will be the ones already known, qualified, staffed, and ready.

ABC Ohio Valley’s Workforce and Training Platform for The Banks

ABC Ohio Valley’s workforce platform is built for exactly this type of market moment.

The chapter’s nine-trade apprenticeship infrastructure aligns directly with the work expected at The Banks: Carpentry, Craft Labor, Electrical, HVAC, Pipefitting, Plumbing, Roofing, Sheet Metal, and Sprinkler Fitter. These trades will be needed across residential towers, office core and shell, hotel work, restaurants, bars, public spaces, infrastructure, and long-term maintenance.

ABC Ohio Valley also supports workforce development through the CURT award-winning TOOLS Program. The TOOLS Program helps introduce new entrants to construction careers and prepares them for the expectations of commercial jobsites.

The Ohio Valley Construction Education Foundation, or OVCEF, is another critical partner. OVCEF supports curriculum, scholarship, outreach, and training alignment to help employers develop a stronger, more reliable talent pipeline.

ABC Ohio Valley has also relaunched its Gen Z workforce initiative to reach high school students and young adults. That matters because a 15-year Banks buildout will not be staffed only by today’s journey-level workforce. It will depend on people who are currently in school, early in their careers, or just beginning to consider the trades.

For contractors, the practical benefit is risk reduction.

A stronger training pipeline means fewer missed schedules, fewer declined bid opportunities, better retention, and more confidence when committing to complex work.

Advocacy and Merit Shop Voice on The Banks Cincinnati

ABC Ohio Valley advocates for merit shop principles: open competition, freedom of choice regarding union membership, and contractor selection based on safety, quality, and value.

As the city, county, Bengals, Reds, developers, and public agencies shape procurement frameworks, ABC Ohio Valley will engage to ensure non-union contractors can compete on an equal footing.

Key advocacy arenas include:

• Labor policy
  Monitoring any proposal that would limit open competition or impose mandated labor structures.
• Procurement structure
  Supporting fair bid opportunities for qualified merit shop contractors, subcontractors, suppliers, and specialty firms.
• Safety regulation
  Promoting strong safety standards that improve performance without creating unnecessary barriers for capable firms.
• Workforce funding
  Advocating for training investments that expand the construction labor pool, including apprenticeship, career education, and youth outreach.
• Public infrastructure decisions
  Tracking city, county, and state actions that affect streets, utilities, parks, garages, pedestrian access, and site readiness.

Contractors should not wait until policy decisions are final to speak up. Share field-level perspectives early. Participate in meetings. Join calls. Provide testimony when major decisions affect your ability to compete and perform.

Looking Ahead: From Plan Approval to Cranes on The Banks

The May 15, 2026, Planning Commission vote does not mean construction begins tomorrow. It does mean the project has crossed an important threshold.

The next milestones for contractors to watch include:

• Cincinnati City Council’s final vote on the Urban Design Plan Update
• Adoption of PD-43 zoning amendments
• Hamilton County action on infrastructure funding and cost-sharing
• Developer selection or master developer announcements
• Early design, engineering, and public infrastructure RFPs
• Parcel-specific development agreements for Lots 1, 4, 13, 24, and 25

Funding and phasing will continue to evolve. Hamilton County’s concerns about infrastructure costs, stadium-related obligations, and timing should be taken seriously. Financing risk, interest rates, market demand, and tenant commitments will also shape the pace of vertical construction.

Still, the long-term picture is becoming clearer: new residential towers near Paycor Stadium, a hotel on Lot 13, office-led mixed-use on Lot 4, an energized Bengals Plaza, stronger links to Smale Riverfront Park, and a more complete downtown riverfront.

Firms that position themselves in 2026 and 2027 will be best prepared to capture work as the buildout accelerates into the 2030s.

Call to Action: Engage with ABC Ohio Valley Now

The largest source of downtown Cincinnati construction work in a generation is moving into its next phase. Cincinnati-area contractors, subcontractors, suppliers, and service providers should engage now.

ABC Ohio Valley can help members and prospective members:

• Evaluate apprenticeship enrollment needs by trade
• Build workforce development plans for the Banks pipeline
• Strengthen safety and training programs
• Connect with merit shop peers and potential partners
• Stay informed on City Council, Hamilton County, and procurement developments
• Advocate for open, competitive access to public and private work

Contractors should connect with VP of Education Wendy Harris to discuss apprenticeship enrollment, trade-by-trade capacity planning, and integrating ABC Ohio Valley programs into hiring pipelines.

The opportunity is real. The workforce pressure is real. The companies that prepare now will be in the strongest position to win and staff the work.

FAQ

When will construction at The Banks Cincinnati actually start?

The May 15, 2026, Planning Commission approval moves The Banks Urban Design Plan Update to the Cincinnati City Council for final action. Final zoning and entitlement steps are expected later in 2026.

Visible infrastructure, site work, and early public packages could begin in the late 2020s. Major vertical construction is expected to be phased over roughly 10–15 years, depending on financing, tenant commitments, development agreements, and parcel readiness.

How can a mid-sized subcontractor get on a team for The Banks work?

Start by strengthening relationships with regional general contractors that are already active in downtown, at The Banks, near Paycor Stadium, near Great American Ball Park, or on similar mixed-use projects.

Subcontractors should also update prequalification packages, safety records, project profiles, workforce plans, and references. ABC Ohio Valley networking, education, and advocacy channels can help firms form relationships before formal bid lists are set.

Will there be opportunities related to Smale Riverfront Park and other riverfront parks?

Yes. Smale Riverfront Park is largely built out, but the plan includes improved connections, potential pedestrian bridge or elevated access, plaza work, public realm upgrades, and adjacent landscape and hardscape scopes.

Contractors interested in park, civil, site, lighting, landscape, and specialty public realm work should monitor both the City of Cincinnati and Hamilton County procurement channels, along with private developer packages.

Does ABC Ohio Valley only support large contractors on a project like this?

No. ABC Ohio Valley serves small family-owned subcontractors, mid-sized specialty firms, suppliers, and large regional contractors.

Apprenticeship, safety training, professional development, and workforce programs can scale to different company sizes. Even a smaller firm that adds a few apprentices or improves field leadership capacity can be better positioned for Banks-related work.

What if my company is not currently located in Cincinnati?

Many Ohio Valley firms based in Dayton, Columbus, Northern Kentucky, and Southeastern Indiana already compete in the Cincinnati market. The Banks opportunity will attract qualified firms from across the region.

Out-of-area contractors should evaluate travel, lodging, staging, supervision, and temporary office needs in the riverfront and downtown areas. Joining ABC Ohio Valley can help firms access local market intelligence, workforce resources, and relationships that make entry into the Cincinnati riverfront market more practical.