The Cincinnati streetcar will receive an $11 million federal grant to extend the line south and reach The Banks, reports the Cincinnati Enquirer. U.S. Transportation Secretary Ray LaHood made the announcement on Thursday at a City Hall news conference. Mayor Mark Mallory expects construction to commence in the first quarter of 2012.
This is great news for The Banks where Carter serves as the master developer. By 2019, The Banks will be 1.9 million square feet of new development including 1,000 residential units, a hotel, a new office tower and at least 400,000 square feet of retail space. The development is rising between the Great American Ball Park and Paul Brown Stadium.
The new grant increases the streetcar project budget to nearly $110 million and helps extend the route to link three major sport and entertainment venues, the National Underground Railroad Freedom Center and other riverfront attractions.
“This is a day of celebration,” Mallory said. “This is a great day in Cincinnati.”
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