Business owners at The Banks are pleading for city officials to put a new arena at the location of the nearly 50-year-old Heritage Bank Center instead of relocating it. This plea comes after a November feasibility study, conducted by the city of Cincinnati in partnership with Hamilton County, The Port, The Cincinnati USA Regional Chamber and several others in the region, determined that Cincinnati should build a new arena in one of two locations: south of TQL Stadium in the West End or near the Duke Energy Convention Center on land that will be freed up by the Brent Spence Bridge reconstruction. "Thats just under 400,000 square feet of space now," said Bill Baker, managing partner at MSA Sport. "A new arena is about 650,000 if not more so it has more back of house, more club space, more concourses. Just the nature of these building types have evolved over the past 50 years."RELATED | Study: Cincinnati should build new arena in one of these two locationsOn Wednesday, the Banks Business Community held a press conference, saying they're "dedicated to the continued growth and prosperity of our vibrant riverfront district."They also said they disagree with the feasibility study. "It is incorrect to say that the new arena can't fit in the current space where Heritage Bank Center is located," said Tracy Schwegmann, who spoke on behalf of The Banks' business owners. Schwegmann is an asset manager for Jeffrey R. Anderson Real Estate, which handles retail leasing at The Banks.Schwegmann also said she believes it's an oversight not to have the existing site fall into the top tier of potential locations. "The existing location offers unparalleled advantages in terms of infrastructure and accessibility," the Banks Business Community wrote in a letter. "More than $3 billion has been invested into the infrastructure of The Banks with established parking facilities, utilities and proximity to major highways, the site is well-equipped to handle increased visitor capacity."Heritage Bank Center draws approximately 600,000 annual visitors, the business community said. A new arena is supposed to increase that draw to 800,000 to 1 million visitors annually. The business community also said moving the arena could have unintended consequences and could "adversely affect the vibrancy and appeal of our city's riverfront district."If the arena were to move, it would be "a tough run down here" for the businesses, Schwegmann said. Cincinnati Mayor Aftab Pureval was initially skeptical of the idea of building an arena, but he said the November study showed "a strong case for the importance of a new arena.""Moving forward, we will need to dig into the financing and location options that were laid out, as well as better understanding the level of community support," Pureval said in a statement in November. November's study also said Nederlander Entertainment, which operates Heritage Bank Center, was on board for relocating and partnering with a new arena, but the company clarified its stance, saying the arena should stay at its current location. RELATED | 'There is nothing wrong with the current location' | Heritage Bank Center operators respond to recent study"Not only do we believe there is nothing wrong with the current location, but that new arena should be built there, rather than far away," the company said in a statement in November. The Banks business owners said Wednesday's press conference was just the start of their dialogue as they continue to advocate for the neighborhood and their businesses.