The City of Covington is searching for developers to revamp multiple parcels of land on the 23-acre site of the demolished IRS processing center.
The parcels are located along 4th Street, varying in shape and size. Each parcel has a different use outlined in the city’s master development plan for the Covington Central Riverfront project.
The city is seeking development proposals and purchase prices for three parcels and a real estate broker service for another. Requests for Proposal, or RFPs, were published on the city’s website at the end of May. The parcels are referred to as “blocks” on the website.
“With these proposals, we are looking to set the tone for the quality and style of the new neighborhood,” West said in a press release. “We want multiple owners, different architects, different materials, and new ideas and tenants. We’re not doing fake history – we want a 21st-century version of the districts in Covington we all love.”
Covington Economic Development Authority Director Tom West told LINK nky April that he wants the IRS site development to resemble other currently existing neighborhoods in Covington so it could tie into the overall fabric of the city. Once completed, the development will reconnect downtown Covington, MainStrasse and Mutter Gottes with the Ohio Riverfront.
To accomplish this, the city isn’t contracting a single master developer for the project but rather multiple developers, so the end result will feature diverse building designs. In December, the city unveiled renderings of the mixed-use development.
LINK nky reported in February that approximately 35 to 40 out-of-town developers and 10 to 15 local developers inquired with the city about the project.
- Approximately 2.59 acres or 112,700 square feet.
- Large scale development opportunity.
- Plan envisions parcel containing office, commercial, small amounts of park space and/or parking facilities, as well as a small amount of open space or park space.
- Proposal due on June 22.
- Approximately 0.86 acres or 37,300 square feet.
- Plan envisions parcel containing 13 single-family detached homes or live-over work dwellings on lots which are approximately 2,890 square feet each.
- City is seeking a broker to sell the individual lots to either families or individuals who will then hire their own builders.
- Proposals are due June 26.
- Approximately 0.88 acres or 38,400 square feet.
- Plan envisions multiple buildings of townhouse-style housing with driveways or garages accessed from an alley behind the units.
- Live-over work structures will be considered.
- Proposals are due July 6.
- Two available size arrangements depending on the developer’s preference: .3 acres/13,000 square feet or 0.69 acres/30,100 square feet.
- Plan does not identify a specific land use. The City prefers single-use or mixed-use development with office, commercial, retail, and/or entertainment facilities.
- Proposals are due June 29.
Late July or early August is when recommendations are expected to be made by the selection staff and presented to the Covington Board of Commissioners.
The city purchased the 23-acre site for $20.5 million in 2020 after the federal government closed the IRS building the year prior. In 2022, O’Rourke Wrecking completed demolition of the building. Currently, the site sits empty.