5 Northern Kentucky real estate developments to watch in 2026

As 2026 sets in, several large-scale real estate development projects aim to transform the landscape of Northern Kentucky.

For the new year, LINK nky is spotlighting five real estate developments to watch in 2026.

These projects, including new mixed-use developments, apartment complexes, and grocery-anchored retail centers, indicate ongoing growth and investment throughout Boone, Kenton, and Campbell counties.

Covington Central Riverfront project

Construction of the first buildings at the highly anticipated Covington Central Riverfront site is underway. Over the years-long, sometimes methodical, development process, progress is clearly visible.

The first development on the site occurred in 2022 when Covington hired O’Rourke Demolition to tear down the vacant IRS processing center, which had been located there since the 1970s.

Throughout 2025, Covington invested heavily in building out the 23-acre site’s horizontal infrastructure — including streets, sidewalks, utilities, and a public plaza. 

Alongside infrastructure development, several homebuilders and developers announced projects for the site. The City of Covington divided the site into 16 blocks, allowing multiple developers to participate in the project.

In March 2024, Fort Mitchell-based Drees Homes and the City of Covington agreed to purchase land and develop 16 townhomes on a 0.88-acre parcel.

Then in June 2025, Covington and the Cincinnati-based Silverman Group revealed a $67.2 million investment to develop 257 market-rate apartments, roughly 7,700 square feet of street-level retail space, and around 194 parking spaces in a partially below-ground garage.

In December, Covington hosted a ribbon-cutting ceremony for the Funke Real Estate Group, which began construction on Block A of the CCR site. Located at the corner of Russell Street and Stewart Alley near the new Russell Park promenade, this 37,600-square-foot lot will include 10 single-family homes and two mixed-use buildings. 

In 2026, Northern Kentuckians should expect more physical development of homes on the site.

Cold Spring Town Center

Cincinnati-based real estate developer Merus is in the process of transforming the now-barren former Disabled American Veterans headquarters site. 

2025 saw the demolition of the vacant DAV headquarters. Bulldozers have already cleared the site. Now, some ground-level infrastructure is currently under construction.

Following years of negotiation, the City of Cold Spring and Merus agreed to develop two medical centers on the vacant 28-acre site. The DAV initially moved to Cold Spring in 1966 and then relocated its newly constructed headquarters to Erlanger in 2021.

Known as the Cold Spring Town Center, the project centers around two medical facilities located off Industrial Road at the rear of the site and four smaller retail buildings at the front along Alexandria Pike.

The project was reported to cost $49.2 million in total. Last August, Cold Spring approved up to $40 million in Industrial Revenue Bonds to finance a portion of the ongoing development.

The ongoing first phase involves building four retail structures, featuring 9,500 multi-tenant units and three graded pads for build-to-suit leases. The second phase will focus on constructing two medical buildings intended for long-term tenants. Two of Greater Cincinnati’s largest healthcare providers–Cincinnati Children’s and Christ Hospital–will move into the two primary buildings upon completion.

Cincinnati Children’s will occupy a 10,000-square-foot space within a 45,000-square-foot building, with an extra 5,000 square feet reserved for future patient services. The remaining 30,000 square feet will be leased to other companies, primarily healthcare providers.

Christ Hospital is set to move into the other building on the campus, which will function as an outpatient facility for primary care, women’s services, and cardiology services.

Publix

In 2025, the Florida-based grocery giant Publix opened its first store in Northern Kentucky, serving the Richwood and Union communities in Boone County.

Over the past few years, Publix unveiled plans to rapidly expand into Northern Kentucky. The corporation announced intentions to open grocery store complexes in Hebron, Independence, Florence and Cold Spring.

So far, the most visible progress has been at the Cold Spring Publix. Dubbed Cold Spring Pointe, the complex will center on Publix. In addition, the phased project will include a Wawa, Chase Bank, Marshalls, Five Below, and Hobby Lobby.

In 2026, expect more progress at Cold Spring Pointe, as well as at the other project locations throughout Northern Kentucky.

Bavarian Flats

Bavarian Flats, one of Covington’s marquee residential real estate development projects, is currently under construction next door to the Kenton County Government Center on Simon Kenton Way.

Bavarian Flats is a 125-unit multifamily residential development at 1840 Simon Kenton Way. Previous LINK nky reports indicate that Covington’s Economic Development Department estimated the total project cost at around $27.5 million. Merus, together with Urban Sites, is overseeing the design and construction of the apartment complex.

Bavarian Flats was initially announced in 2023 as part of a larger development project that included the construction of a 248-space parking garage on the government center campus. Dugan & Meyers, a general contractor from Cincinnati, took on the development of the parking garage.

As of now, construction of the parking garage is nearly complete, with most progress occurring in 2025. In 2026, expect further construction progress on the site.

Union Promenade

The highly publicized Union Promenade development made significant progress throughout 2025, with several restaurants and retailers opening on the nearly 62-acre site. The two developers behind the nearly $150 million project are Meierjohan Building Group and Thomas J. Ackermann Company.

Situated along US-42, a key commuter and commercial route in Boone County, Union Promenade combines retail spaces, dining options, offices, medical centers, and both multifamily and single-family residences into a walkable, interconnected community.

The project features a promenade-style layout that connects commercial spaces to about 300 multifamily units and 44 single-family patio homes by Drees Homes.

In addition to the commercial and residential rental units, the project’s key feature is a Cincinnati Children’s primary care facility that opened last May. The hospital has invested roughly $22.5 million in the roughly 6-acre property near the Union Promenade development.

Expect further rental announcements and business openings at Union Promenade in 2026.