Covington Central Riverfront
Development Objectives

The City has committed to this redevelopment district like none before with land acquisition, master planning, demolition, remediation, engineering utilities design, and horizontal infrastructure, including a 670-car public garage. This investment of effort, energy, time and treasure represents the commitment and dedication of the City’s elected and appointed officials and City staff to the progressive vision, which anticipates the development of this new mixed use neighborhood with new jobs and significantly leveraged private investment. The Central Riverfront Strategic Master Plan identifies targets for jobs, commercial and office spaces, residential units, and overall investment. But, not all the City’s goals for this area can be measured on a spreadsheet. In addition to traditional metrics, the City has these development objectives:

• Implementation of the general concepts of the masterplan, including a restored street grid, mix of uses, additional public open space, and connection to the river and adjoining districts.
• Multiple types and sizes of developments by a variety of developers. The districts we love most in Covington were developed over time by many people with various ideas. That variety contributes to the resiliency, authentic character and welcoming vibe of our community.
• A wide range of contemporary architectural styles, creating the 21st century version of the parts of Covington so beloved by its people. These inspirations include Ritte’s Corner, Downtown, Mainstrasse Village, Roebling Point and others. The architecture should not be derivative, rather both original and contemporary to our times.
• Opportunities for a significant portion (30%-50%) of the district to be developed by smaller Covington-based developers. These developers have invested in the community since the early days of the city’s current renaissance and deserve an opportunity to be part of this new district.
• Opportunities for Minority and Women-owned business participation. Diversity and Inclusion have been community values in Covington for decades; long before they were national buzz words. Therefore, assuring that minority and women-owned developers, contractors and tenant businesses is a priority for the City.
• A variety of market-rate housing opportunities from single-family homes to condos to apartments.
• A majority of buildings with a useful life cycle of 50-100 years. Materials and craftsmanship will determine the life cycle of the structures in the district. The intent is to develop this new neighborhood as a permanent part of The Cov and not just a trendy area intended to be recycled in a few decades.
• Well-maintained and flexible public spaces. The public areas such as parks, plazas, sidewalks will be maintained and used for a wide variety of public purposes.
• A pedestrian and bicycle-oriented environment. The new neighborhood will accommodate cars, but not be designed around them.
• Good jobs for Covingtonians and others. Both during construction and among businesses located in the district. More than half of the City’s general fund revenue is derived from payroll taxes, so commercial development with great paying jobs is critical to cover the costs of building the infrastructure and amenities.
• Locally-owned retailers, bars and restaurants. Covington is a community of residents and visitors who love dining out and shopping, just not so much in districts filled with national chains.
• Reasonable sale price for parcels. The City will have invested more than $100 million in the neighborhood when all of the infrastructure and public amenities are completed. Realizing a fair price for such build-ready prime development parcels is good business practice.