CINCINNATI (WXIX) – Talks about building a new arena in Cincinnati are in the making, but some local businesses want a completely new look to Heritage Bank Center instead.
Business owners at the Banks are advocating for the rebuilding of the nearly 50-year-old arena.
“In light of recent discussions regarding the construction of a new arena in downtown Cincinnati, the Banks Business Community will express their strong support for building the new arena at the current Heritage Bank Center location,” the group wrote in a press release.
On Wednesday, the Banks Business Community will meet to discuss their open letter to the community and officials.
A new arena has been a controversial topic for the city as some folks believe a brand new arena could bring in more money, while others say Heritage Bank Center is already a prominent location.
In November 2024, a six-month study was released explaining the feasibility of a new sports and entertainment arena in the city, which could cost anywhere between $675 million and $800 million.
“With a new arena, we will be more well-positioned to attract more national sporting events, including major college athletic tournaments, more concerts, and more family entertainment,” Cincinnati USA Regional Chamber’s Brendon Cull previously said. “At all of that to the existing asset that this community has in the Cincinnati Cyclones, and we predict our facility could be operating as frequently as one in three nights a year. That is a huge asset for a community like ours.”
Cincinnati is missing out on major events to cities nearby, such as the NCAA women’s and men’s basketball tournaments, Cull explained, which is even more reason to build a new arena.
Additionally, the study shows that Heritage Bank Center has been on a decline since 2016.
As for a new arena, stakeholders narrowed it down to three locations: West Downtown, Towne Center Garage in the West End and Casino North.
West Downtown
- 9.62 acres
- Sits adjacent to the Duke Energy Convention Center
- Walkability to attractions, existing parking, land is easy to acquire and it connects the West End to the Banks.
- Construction would have juggle with the Brent Spence Bridge Corridor Project
Towne Center Garage
- 6.37 acres
- Current home of WCET; Parking garage is owned by the City of Cincinnati.
- It would be a more narrow venue and a tight squeeze.
- Could possibly further development in the West End since it is by TQL Stadium, Music Hall and Over-the-Rhine.
- Building an arena here would be quicker since there is not a “deteriorating asset.”
- Potential traffic issues with FC Cincinnati and Music Hall-goers.
Casino North
- 5.16 acres
- Near the Hard Rock Casino
- Working with a private investor could bring more flexibility to the project.
- There is already a parking garage at this site.
- The location feels “isolated” and “removed” from the city’s center.
Renovating Heritage Bank Center was also considered in the study, but it would cost a pretty penny – $605 million.
However, Heritage Bank Center says that is less than what it would cost for the other locations in the study.
“We believe the study significantly overstated the cost and complexity of the current site. Turner Construction recently provided an updated cost of $605 million for a rebuilt Heritage Bank Center on its current site. That estimate was based on renderings from MSA Design. This is less than the construction cost for the other sites listed in the study. This is an economical and effective location and design for the new arena,” they wrote in a press release.
Additionally, Heritage Bank Center says the new design for the arena is “not as complex as the study states” and would take up a total of 7 acres, rather than the study’s 4.17 acres in size.
The group also mentioned that the arena already has roughly 9,100 parking spots available in nearby garages.
“The baseline size of a modern arena has grown over the last ten years. Our current analysis makes clear that for Cincinnati to have the modern facility it needs, this growth in size would add complexity and cost that were not reflected in the concept vision work done by Nederlander a decade ago at the current site. Any analysis should take into account these current standards, as we did in our report. Additionally, the report details economic opportunities at the two highly viable sites – including one with close proximity to the Banks – that further enhance our region’s vibrancy,” Cincinnati Regional Chamber officials previously wrote to FOX19 NOW.
Since the release of the study, it is unknown if any other moves have been made in furthering the development of a new arena.
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