Construction workers placed the final steel beam on top of the OneNKY Center — the soon-to-be home of Northern Kentucky’s regional growth organizations.
Several politicians and regional leaders were on hand at the “topping off” ceremony, where they gave their remarks regarding the building’s construction progress and what its inevitable completion means for Northern Kentucky.
Attendees included Corporex Chairman Bill Butler, Kenton County Judge/Executive Kris Knochelmann, Covington Mayor Joe Meyer, state senators Chris McDaniel (R-Ryland Heights) and Shelley Funke Frommeyer (R-Alexandria), and State Rep. Stephanie Dietz (R-Edgewood).
“I think this building is a sign of the fact that we can do great things when we cooperate and work together,” Knochelmann said.
The OneNKY Center is located at 209 Greenup St. in Covington at the foot of the historic John A. Roebling Suspension Bridge.
As of now, the building lacks its signature glass facade, which is showcased in the project renderings. The concrete “bones” of the structure, all three floors and the 44-space underground parking garage are finished. Fort Mitchell-based Hemmer Construction is the project’s general contractor. Covington-based Corporex was chosen as the project’s design-build contractor. The building is expected to be completed in 2025.
While St. Elizabeth Healthcare owns the land underneath the OneNKY Center, the Northern Kentucky Port Authority owns the actual building. The Northern Kentucky Port Authority is a multi-jurisdictional economic development organization that facilitates river port projects along the Ohio and Licking Rivers.
“It occurs to me that no one piece of this building is more important than any other,” said Christine Russell, executive director of the Northern Kentucky Port Authority. “Every single piece is necessary to build this safe and beautiful building that we will call our home.”
Currently, the OneNKY Center is 100% leased, according to a press release from BE NKY Growth Partnership. Several of Northern Kentucky’s growth organizations will be housed in the building, including the NKY Chamber of Commerce, OneNKY Alliance, meetNKY, The Catalytic Fund of Northern Kentucky, BE NKY, Horizon Community Funds of Northern Kentucky and Northern Kentucky Bar Association.
“Each one of these organizations — they had to take a vote, a board had to vote for a lease to long-term make a commitment to this project,” Knochelmann said. “That’s not easy. Those directors, those CEOs, those executors had to make good choices.”
The building will also be home to the Covington Life Science Lab, which will provide early-stage companies with research and development facilities, shared equipment, office space and various educational and training opportunities. In 2023, the Covington Life Science Lab inked a 99-year, $12 million lease with the Port Authority for 15,000 square feet of space.
“To me, the most important thing is the Life Sciences Center,” McDaniel said. “The idea that we’re going to have the only biomedical center with a wet lab from Columbus to Lexington, as the economy transforms into the 21st century, as we understand more about the human genome, as we understand more about how to process data and use artificial intelligence to speed up those solutions to complex medical problems.”
Financing for the OneNKY Center comes through several channels. The Kenton County Fiscal Court provided a credit enhancement for $8.7 million worth of construction bonds. The bonds were issued by the Kentucky Association of County Officials and underwritten by Compass Municipal Advisors.
The Kentucky General Assembly is providing $15 million worth of funds for the Covington Life Science Lab. Additionally, other financing was provided by the Haile Foundation, Horizon Community Funds, Durr Foundation and Drees Foundation.
