Now that the work on Kentucky Route 9 has been completed, a lot next to the floodwall along the Ohio and Licking Rivers in Newport that was purchased by Corporex over a decade ago will be undergoing redevelopment.
Tom Fromme, City Manager of Newport, said the project will be a big one. To be called Ovation, the project may cost up to $1bn and is hoped to withstand the test of time. It will have over 500 hotel rooms and 942 housing units for purchase or rent. There will also be a million square feet of office space and 280,000 square feet of retail space, so that those from nearby Southgate might want to consider checking out the new shops and businesses once they are established in the building.
The project will create 5,000 construction jobs and a total of 4,400 other jobs, many of which may need the services of business card printing. Another 3,800 jobs are expected to be created indirectly from the project.
Construction is expected to begin in Spring 2019 with the building of a parking garage, around which all other spaces will be developed.
A 240-foot Ferris wheel will also be built in Newport and Newport on the Levee will be redeveloped by a local group. Fromme added that there are other projects in the pipeline.
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2302 Alexandria Pike
Southgate, KY 41071
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