Cincinnati Gardens Sale Complete, Demolition Expected
The famed local arena that once hosted Xavier basketball games, two semi-professional ice hockey teams, the Beatles and many other superstars of music and sports, and speeches by too many famous people to name, has been sold.
The Cincinnati Gardens will be no more.The Gardens' ownership reports a deal to sell the 67-year-old building and land to The Port of Greater Cincinnati Development Authority is complete.
In a statement, the Robinson family writes:
We announce with very mixed emotions that The Cincinnati Gardens has been sold. We wish the new owners, the Port of Greater Cincinnati Development Authority, nothing but the best. We are eternally grateful and thankful to all who have been a part of our chapter of The Gardens history and lore. On behalf of our family and our great employees, it has been a privilege and honor to serve as the curator of such a historic and fabled Cincinnati landmark.
We are profoundly grateful to the many teams and performers who entertained us and to all of the fans who have been our guests -- not just since 1979 -- but during the entire, glorious, 67-year history of The Cincinnati Gardens. Thank you for all the great memories.
The Port Authority plans to demolish the facility and attract new manufacturing and jobs.
"The redevelopment of this property is another opportunity for the neighborhoods to share in a regional focus on building vibrant neighborhoods with opportunities for good jobs, housing, neighborhood amenities, and community space," says Port Authority Executive Vice President Darin Hall.
The project includes demolition of the existing structure, site clearance, and potential utility and access upgrades.
Length of Involvement / Exit: 5 years (estimated) / sale to end user
Total Consideration (US$): $1,750,000 acquisition
Expected Economic Impact / Jobs: Potential for 300 new jobs and capital investment of $20,500,000
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