National City, a financial holding company, has purchased the 10-year naming rights to the new 4,100-seat venue.
The National City Pavilion is expected to be completed by June 2008; initial groundbreaking will coincide with the opening of the summer season in late May, with heavy construction (overseen by Messer Construction and GBBN Architects) to begin in September 2007. Construction will not affect the summer 2007 Riverbend season.
"This is an investment for the CSO," said Cincinnati Symphony President Steven Monder. "The National City Pavilion, like the J. Ralph Corbett Pavilion at Riverbend, will generate new revenue for the orchestra. It also will generate economic impact and allow us to present additional entertainment options for the region."
The National City Pavilion is expected to have an economic impact of $4.4 million to $5.5 million per year. Riverbend's current economic impact is approximately $20 million per year, according to a statement from the orchestra.
The State of Ohio gave the Cincinnati Symphony $3.25 million from its capital budget to help finance the project, which is expected to cost $6.8 million in total. The remaning funds have been privately raised.