A seven-story hotel by Marriott is coming to riverfront development The Banks, the lead development group for the project announced May 11.
The announcement comes after months of speculation and some controversy over the need for a hotel at the joint city-county riverfront development. Developers have said that other additions, including a possible grocery store, could follow the hotel.
Lead developers Carter and Dawson Co. have been working on a deal for a hotel for some time. The AC Marriott hotel along The Banks will be developed by Eagle Realty, the real estate arm of Cincinnati’s Western & Southern Financial Group, and will be managed by Cincinnati-based Winegardner and Hammons, Inc.
The plan is a relief for city and county officials and area business leaders who have been waiting for that major piece of The Banks puzzle for a long time. The lack of a hotel at the riverfront development, which has been in the works for a decade, has been controversial.
Earlier this month, Hamilton County Administrator Christian Sigman was removed from his duties relating to economic development after he sent a letter to Cincinnati officials asking whether it was time to change developers after the delay in securing a hotel tenant at The Banks. Hamilton County commissioners said that didn’t reflect the viewpoint of the county. Sigman will stay on in his administrator role, but will have no part in riverfront development matters.
That hasn’t been the only controversy. Last year, former Mahogany’s owner Liz Rogers threatened to sue the city over the lack of hotel at the development, among other complaints. Mahogany’s went out of business last October over missed city loan and state tax payments. Rogers placed much of the blame on the absence of a promised hotel, which she said meant foot traffic at The Banks wasn’t enough to support her business.
Rogers’ detractors, however, said she simply didn’t run her business well and pointed to other restaurants at The Banks that have been able to stay open.
In September last year, Rogers’ lawyer proposed that the city forgive her loan and in exchange Rogers would take no legal action against the city. City officials declined that offer. Rogers’ lawsuit never materialized.
Stakeholders had originally hoped to have the hotel open in time for the 2015 Major League Baseball All-Star Game in July. Developers say it will now open in spring 2017.
