Cincinnati Symphony chosen as preferred developer for new concert venue

Posted on: May 3, 2018

“It might seem that the Cincinnati Symphony Orchestra was always the front-runner to build a new concert venue at The Banks,” writes Randy Tucker in Wednesday’s (5/2) Cincinnati Enquirer (Ohio). “The Joint Banks Steering Committee (JBSC) … Wednesday selected the symphony as the preferred developer … among three competing bids…. Bob Castellini, a committee member and president of the Cincinnati Reds … said it was simply the best proposal out of all three.… Live Nation … submitted a joint proposal to build a concert venue at The Banks. They were joined by Columbus-based concert promoter, PromoWest … which submitted a separate bid. Live Nation’s proposal [was] for an approximately $73 million indoor-outdoor facility…. PromoWest proposed a fully funded $15.3 million indoor-outdoor facility, while CSO’s plans called for a $19.25 million, three-story building with adjacent outdoor concert space…. Both the city and county are expected to consider the steering committee’s recommendation sometime next week…. The proposals from CSO and its subsidiary, Music and Event Management, Inc, call for hosting outdoor concerts on a ‘seasonal stage,’ while PromoWest and Live Nation both proposed facilities with dedicated, permanent outdoor concert space…. Financing for the CSO project is already in place and would require no public subsidy.”

Posted May 3, 2018