Developer celebrates progress on $1B Cincinnati-area riverfront project

Covington, Kentucky–based development firm Corporex recently celebrated the progress of its long-term riverfront commercial and residential project by placing a time capsule and holding a ribbon cutting ceremony for a completed pedestrian bridge, the Cincinnati Business Courier reports. Corporex “has invested $250 million so far out of the projected $1 billion sum needed” to complete the Ovation project on “the shore where the Licking and Ohio rivers meet,” according to the article. Ovation will “see the development of a variety of outdoor excursions and properties across its 25-acre site,” including “a concert venue, restaurants, office space, condominiums and apartments, a hotel and various entertainment sites.” Corporex Chief Real Estate Officer Tom Banta said the project “is centered around being a multifaceted development,” with “diverse building types and transportation methods.” Corporex Chairman Bill Butler said the project would not have been possible with tax increment financing (TIF) policies. For more, read the full article (subscription may be required). 

Economic Development, Financial Incentives, State Updates