FC Cincinnati is set to start building its new $332 million entertainment district near TQL Stadium. Recently, the Ohio Department of Development awarded the soccer team $26 million in tax credits. This funding comes from a program aimed at encouraging major projects that benefit surrounding communities.
So, what exactly are tax credits? Simply put, they reduce the amount of taxes a developer would owe during the early stages of a project. In some cases, they can even be sold to raise extra funds. To qualify for these credits, developers must show that their project will generate enough taxes to surpass 10% of its total cost.
In total, Ohio distributed $100 million in tax credits across various projects, amounting to $2 billion in development. FC Cincinnati received the second-largest share, following a $33 million commitment to a significant project in downtown Columbus.
FC Cincinnati’s president, Jeff Berding, expressed excitement over obtaining this funding. He believes the project will revitalize the West End, a historic area that has seen little investment for years. Berding sees the grant as a sign of hope for the community, showing trust in their future.
Chad Munitz, another spokesperson for the team, highlighted that without these tax credits, they would have had to rethink their plans and discussions with community partners about moving forward.
With this funding secured, construction is expected to begin this summer and should wrap up by summer 2027. Before that, Cincinnati’s planning commission needs to approve the final design plans this spring.
What’s in store for the 8.5-acre site? The project will unfold in phases. By mid-2027, there will be two 13-story mixed-use towers on the eastern part of the land. These towers will include apartments, a hotel, and a public plaza to connect Central Parkway to TQL Stadium—becoming a gathering place for fans.
The north tower will house 167 residential units and feature an underground parking garage, while the south tower will include the hotel as well as space for restaurants and shops. There will also be a venue for entertainment that can seat between 1,200 and 1,300 visitors.
Additionally, renovations to TQL Stadium will be part of this phase of construction. The project is anticipated to generate over 2,100 construction jobs and nearly 1,700 permanent jobs, marking a significant boost for the local economy.
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