Kenton County taps Al Neyer, Urban Sites to develop Covington residential project
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Kenton County Fiscal Court tapped the Cincinnati-based developers in its Dec. 12 meeting following a month-long bidding window that closed Nov. 27.
The county will own the underlying parcels but are offering a ground and/or air lease. The developers in their bid proposal to the county offered a 50-year ground lease with two 25-year extension options.
Preliminary renderings from the county show a three-story, L-shaped structure, though the garage will be built to support four stories, and the developers have asked the county to consider alternate layouts to support increased density.
Rents, according to the developers, will be priced to appeal to those working nearby at employers like St. Elizabeth’s Hospital, Fidelity, Cincinnati/Northern Kentucky International Airport, area schools and the county administration building itself.
“The location is within walking distance of Mainstrasse,” the developers wrote. “It is extremely accessible to those working south of the project along 71/75 and will serve to draw new residents to this emerging neighborhood.”
The same development team – Al Neyer and Urban Sites – worked on the Hayden at Roebling Point, which is now 90% leased.
Work on two of Corporex’s Boardwalk Residences condos nears completio...
Kenton County taps Al Neyer, Urban Sites to develop Covington residential project
–
Kenton County Fiscal Court tapped the Cincinnati-based developers in its Dec. 12 meeting following a month-long bidding window that closed Nov. 27.
The county will own the underlying parcels but are offering a ground and/or air lease. The developers in their bid proposal to the county offered a 50-year ground lease with two 25-year extension options.
Preliminary renderings from the county show a three-story, L-shaped structure, though the garage will be built to support four stories, and the developers have asked the county to consider alternate layouts to support increased density.
Rents, according to the developers, will be priced to appeal to those working nearby at employers like St. Elizabeth’s Hospital, Fidelity, Cincinnati/Northern Kentucky International Airport, area schools and the county administration building itself.
“The location is within walking distance of Mainstrasse,” the developers wrote. “It is extremely accessible to those working south of the project along 71/75 and will serve to draw new residents to this emerging neighborhood.”
The same development team – Al Neyer and Urban Sites – worked on the Hayden at Roebling Point, which is now 90% leased.
https://www.bizjournals.com/cincinnati/news/2023/12/13/al-neyer-urban-sites-kenton-county-covington-12th.html