COVINGTON, Ky. – The demolition of buildings along Washington Street on Monday marked the first step in redeveloping the site for the mixed use residential and commercial Duveneck Square project.
Located along Washington Street between 7th and 8th Streets, the NorthPointe Group will develop the four-story, high-end multi-family development in Covington. The demolition is the first physical alteration to the site making way for the construction of Phase 1 of the project.
City Manager Larry Klein stated, “Benefiting Covington as a whole, redevelopment of this underutilized site into market rate housing aligns with the City’s efforts to increase revenue, support and expand local businesses and increase parking opportunities.
“The Duveneck Square project will serve as a gateway, bringing in more residents and more customers for our local businesses. It also demonstrates the strong demand for more market rate housing in Covington. We look forward to what the future holds.”
Phase 1 of the project will produce 110 one bedroom and two bedroom units bringing in a new cohort of residents and commercial tenants to the City’s Central Business District. Upon its completion, Phase 2 construction will commence, producing a parking structure and retail, office and additional residential units.
Mayor Sherry Carran stated, “To see the physical transformation of this area begin and knowing the significant investment being made is an awesome feeling.
“Through the collaborative efforts and the focus of NorthPointe Group, the The Catalytic Fund, Kenton County, City staff & Commission, and the partnership with Covington Independent Public Schools on the Industrial Revenue Bonds, we are at a point where it is hard to deny the City is moving forward in a positive direction.”
Working together, the City and NorthPointe Group completed a multi-faceted pre-construction phase, which required extensive coordination and teamwork to close project financing and obtain all permits and approvals, including authorization from the City’s Urban Design Review Board to move forward with proposed project designs.
The Board’s approval confirmed the project designs respected the surrounding historic architecture and adhered to its specifications. To view project design renderings, click here.
NorthPointe Group’s Lisa Scovic stated, “In working on this project, the City of Covington and all of its staff have been very supportive of our development efforts and we are extremely grateful for that support.”
NorthPointe Group has facilitated numerous projects, including developments in Over-the-Rhine consisting of apartments, condos, office spaces and other commercial/retail use, specifically the development of 111 market rate apartments located at 7th Street and Broadway Street.
Duveneck Square is the first project in a new wave of high-end multi-family developments taking place in Covington, including the 501 Main Street project.
Development Manager Donald Warner stated, “With the recent opening of the $22M Hotel Covington right around the corner, Duveneck Square is another example of the significant investment that is taking place in Covington.”
While the timeline is tentative, the site’s groundbreaking is scheduled to take place in late November, followed by a construction period lasting approximately 14 months. Residents and businesses hope to move in between January and February, 2018.