The biggest real estate development to hit Northern Kentucky – the $1
billion Ovation project in Newport – could break ground in a year, its
developer says.
"To break ground in a year, that’s realistic," said Covington-born
developer William Butler, chairman of Corporex Cos. Inc., speaking May 4
to United Way of Greater Cincinnati’s biggest givers.
"The only thing we need is the economy and a lot of emotional
energy," Butler said.
The last time anyone talked about groundbreaking for Ovation was late
2008. To jog your memory, the 14-acre Ovation site is at the confluence
of the Licking and Ohio rivers where public housing used to be located.
The development is expected to include 1,000 residential units and more
than 1.1 million square feet of retail space. Plans also call for a
signature, 25-story office tower with 538,000 square feet; two 10-story
office buildings for another 365,000 square feet; and two, one-story
office buildings on the edge of the development. The one-story
structures will total 203,000 square feet and will target back-office
and data center users.
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