Since the development’s groundbreaking in the fall of 2019, there have been tremendous strides in the construction of Ovation.
Now in 2023, construction on two of Ovation’s signature features, the Homewood Suites Hotel and The Boardwalk Residences, is now well underway. On Friday, LINK nky was given a tour of the Ovation complex to detail the development’s construction progress firsthand.
The five-story Homewood Suites Hotel will have 132 rooms, featuring amenities such as a spa, gym, two bars and crisp views of the Cincinnati skyline. The current wooden skeleton of the hotel sits juxtaposed with the neighboring office building, which now has an outer façade of glass windows.
Corporex anticipates construction on the office building and hotel will be finished in the second half of 2023.
In January, realtor.com forecasted a slowdown in the national real estate market. However, Ovation persevered through the slowdown by selling four units in The Boardwalk Residences during the second week of January, accumulating approximately $4 million in sales. This takes the total sales number past the 50% mark for available inventory, according to a Corporex press release.
“We’re thrilled with the strong sales at Ovation and are excited to see the continued interest in the development,” Corporex’s Chief Real Estate Officer Tom Banta said in a press release.
Suzanne Deatherage, vice president of marketing for Corporex, told LINK nky buyers from across the country have already purchased condo units at Ovation. Buyers such as Joe and Jodi McCarthy are an example of this.
After retiring from Washington D.C., the couple was in search of their forever home. While searching for places online during their Galapagos Islands vacation, they stumbled across the Ovation website. Intrigued, they altered their return flight home, departing from Quito, Ecuador and arriving at CVG.
The McCarthys met with Ovation representatives, viewed the area, and subsequently decided that Ovation was the right place.
“While considering multiple areas across the country, we found The Boardwalk Residences at Ovation checked all the boxes for our forever home, beautiful views, modern amenities, a convenient location with an urban feel and great access to sports and entertainment; all while the team at Ovation exuded energy and excitement for this project that creates a personal custom feel to the process,” the McCarthys said in a release.
When on site at The Boardwalk Residences, construction workers scurry back and forth on forklifts and ATVs. Tall cranes are moving large amounts of building materials throughout the complex.
11 elevator shafts are poking up from the concrete, visible from W. 3rd Street when driving by. The elevators will be part of the three different Boardwalk Residence buildings which have clear views of the downtown Cincinnati skyline.
The concrete has already dried on Ovation Way, a main thoroughfare in the development which separates the towers and apartments from The Boardwalk Residences’ three residence buildings. Visitors can access Ovation Way by driving around the roundabout and up a concrete ramp which connects the ground levels of the development with the vertical portions.
The 1,500-foot wooden boardwalk is beginning to take shape, with construction crews installing the first of many sections. The boardwalk borders the levee and James Taylor Park, providing pedestrian access to The Boardwalk Residences restaurants and retail spaces.
Of course, there have been challenges throughout the construction process. Strained supply chains for key building materials like steel have forced contractors to think on their feet.
“There are things that you have to order 18 months in advance,” said Deatherage.
In order to counteract this, contractors have ordered extra key building materials, as well as ordering those materials in bulk months in advance.
Upon completion, the $1 billion mixed-use development will be one of the largest in the history of Northern Kentucky. Featuring over 1,000 total residential units, 500,000 square feet of office space and 125,000 square feet of bar, Corporex wants Ovation to be a fully activated community that encompasses living, working and entertaining in an urban environment.