The newest contracts for construction at the Banks development have been claimed.
The Hamilton County commissioners awarded Prus Construction and Beaty Construction Inc. contracts for site preparation and foundation construction, respectively. The agreements are worth a total of $4.3 million.
The contractors will work together to prepare the next lot for development along with portions of Race Street and complete the foundation for an additional 690 parking spaces.
Messer Construction Co. is serving as the construction manager for phase 3 of the Banks development along Cincinnati’s riverfront, while THP Limited is designing the parking garage and Burgess & Niple is handling roadway and utility design and engineering.
Crews are expected to begin construction at the site by July 20, and the work is expected to be complete by the fourth quarter of 2016.
The newest phase of the banks will add 690 parking spaces on the lot directly south of General Electric’s U.S. Global Operations Center and a new apartment complex currently under construction.
The private development above the parking garage is expected to cost up to $125 million and include up to 400,000 square feet of space.
Banks master developer Carter recently landed a hotel for the riverfront project and is also looking for an anchor for 180 Walnut at the Banks, the office building that is planned for the southeast corner of Second and Walnut streets.