"Vertical subdivision" to be created for Banks' first phase

Lot 4 (full map below): Click to enlarge

City Council may be asked to approve a modification to the Banks' subdivision plat at its August 1 meeting*.

The modification of Lot 4 (see map) will allow the county control of the lot below a contour elevation of 510 feet** while preserving the City's air rights above that point.

This will allow for county construction of the parking garages necessary to lift the development out of the Ohio River flood plain.

The 2.58 acres, surrounded by Main, Second and Walnut streets as well as Freedom Way, will likely be the starting point of Phase I.

Phase I will include 300 apartments, 100 condos, 70,000 square feet of retail and 200,000+ square feet of office space.

According to the non-binding deal announced by the Banks Working Group on June 14, ground is expected to be broken next April.


Banks subdivision plat: Click to enlarge

* The agenda was unavailable as of this posting.
** In other words, 510 feet above sea level.