One of Northern Kentucky’s largest proposed mixed-use development projects is set to receive financial help from Kenton County.
Last night, the Kenton County Fiscal Court approved $2 million in site development funds for the proposed redevelopment of the Drawbridge Inn and Convention Center property located in Fort Mitchell. The Drawbridge Inn closed in 2012 after 42 years in operation.
The money comes courtesy of Kenton County’s $13 million site development fund administered by the Northern Kentucky Port Authority. The approved funds will go toward improving stormwater infrastructure around the site in Fort Mitchell.
“With this project alone, we’re leveraging $2 million to generate many times that amount in private-sector funding for a site that’s been vacant for more than a decade,” Kenton County Judge/Executive Kris Knochelmann said.
In late April, developer Greg Berling informed the Fort Mitchell City Council of the site’s “patched together” stormwater system. The proposed redevelopment plans required a new stormwater system that would be designed to handle runoff of the development, as well as runoff upstream of the site.
“This is a very big help for this project,” Berling said at the fiscal court meeting.
The redevelopment project will be built out along a nearly 25-acre parcel of land along Buttermilk Pike, Grace Court and Royal Drive. The primary feature of the development is The Ormsby — a nine-story retirement center featuring approximately 200 living spaces with access to catered living, memory care, gerontology and skilled nursing. Additionally, the site will include office, commercial and residential spaces.
St. Elizabeth Healthcare, Greenbriar Development — a Dallas-based senior housing developer — and Bellevue-based real estate developer Brandicorp LLC are collaborating on the project. Architecture firm Perkins Eastman is in charge of the building design in the development.
This is the second time Kenton County officials have utilized this specific funding pool. In May, Kenton County approved $3 million to purchase the former Sims Furniture Building in downtown Covington to transform the site into a regional entrepreneurship center.
Work is expected to begin at the end of 2023, pending additional approvals.
