An amazing historic district:’ Covington looks at next steps for former IRS site
The property, located just west of Madison Avenue and north of Fourth Street, was once home to a massive IRS tax-processing facility. It closed in 2019, the city purchased the site in 2020 and the building was demolished last year.
Architectural firm KZF Design is leading a team engineering the “horizontal infrastructure,” including street grid, utilities, parking and other public infrastructure. KZF Chief Strategic Officer Tim Sharp showed renderings of what the Covington Central Riverfront could look like during the luncheon, including a fly-over video that shows off a mix of office, retail, hotel, housing and a levee park.
West said about 35 to 40 out-of-town developers have already contacted the city of Covington about the project. Locally, over a dozen smaller developers have reached out.
The city of Covington is working with BusinessFlare Economic Development Solutions as an economic development consultant on the project. Once it provides the city with a marketing strategy, West said it will start marketing parcels for development. The city also will receive modeling on some of the project’s pieces, like single-family homes, from the Catalytic Fund of Northern Kentucky before marketing begins.
“I’d like for people to be standing 100 years from now at the corner of Third and Russell … and say, ‘What an amazing historic district representative of early 21st-century architecture,’” West said. “I think that’d be awesome.”
The housing at Covington Central Riverfront could include 750 rental units and 300 homeownership units.