Gravity diagnostics florence ky1/17/2024 Ovation is adjacent to Newport on the Levee, the 21-year-old shopping and entertainment complex that overlooks the Ohio River. (He’s also an encyclopedia of Newport history and trivia.) “We’ve got enough going on to keep us busy for the next 10 years,” said Fromme, a Newport native and former police chief who has been city manager since 2005-a long tenure in a job that can be a political minefield. Ovation will also have a freestanding, state-of-the-art health and wellness club with a full-service spa, group exercise classes, a heated elevated pool and more.īut Ovation isn’t the only exciting development in town, Fromme said. Newport is supporting the project by approving $800 million in bonds that will trim costs for Corporex. Newport City Manager Tom Fromme described Ovation and its billion-dollar price tag as one of the most significant in the city’s long history. Ovation among many exciting Newport projects Much of that property on Fourth Street is visible from the hotel, office and residential high-rises along the Ohio River shoreline where Corporex began building in 1988.Īs might be expected, Covington has some great expectations about how a developer might use that tract, a unique opportunity to restore the street grid and redevelop prime riverfront real estate. In early 2022, the city hired O’Rourke Demolition for $1.3 million to tear down the former IRS building, located just a few blocks from the heart of the downtown business district. Less than two miles away, the City of Covington is embarking on its own once-in-a-lifetime, riverfront revitalization project: converting 23 acres of downtown property that once housed a low “flat top” IRS tax-return processing center into a completely reimagined riverfront neighborhood. of retail and entertainment space the indoor/outdoor concert venue a spa a membership club and more.Īnd it will transform the Newport riverfront. of office space 524 hotel rooms 150,000 s.f. Once completed, Ovation will include more than 1,000 residential units 500,000 s.f. Now the second and third phases are underway: construction of an office building, a hotel and a parking garage for future residential units and retail spaces, as well as the third phase presale of and preparation for construction of 88 boardwalk residences that began this spring. The pavilion was just the first phase of the $1 billion Ovation project, a 25-acre, urban mixed-use development covering nearly five city blocks. RELATED: NKY real estate sector bolstered by small-town charm, urban allure The $40 million PromoWest Pavilion at Ovation concert venue was finished. Nearly 16 years after Covington-based developer Corporex paid $13 million for almost 14 acres at the confluence of the Ohio and Licking rivers in Newport, what could be a billion-dollar development project kicked into high gear in December 2020. By Greg Paeth Ovation is a $1 billion mixed-use development that will cover nearly five city blocks at the confluence of the Ohio and Licking rivers in Newport.įor Northern Kentucky, the timing seems to be perfect.
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