Corporex has announced plans for the elements that will comprise the next phase of Ovation. The latest addition to the multi-use project comprised of a hotel and office building is now in the final stages of design and development.
The hotel, a 125-room Homewood Suites by Hilton will feature select suites with skyline views, expanded fitness area, and two bars – one located on the rooftop and the other at plaza level. The adjacent speculative office building will offer approximately 100,000 square feet of Class A office space featuring plaza level retail. With a combined development cost of $45 million, Corporex hopes to break ground on this new phase by year-end.
“Some people might question our timing of this announcement,” stated Tom Banta, Managing Director of Corporex. “But Corporex has historically done very well commencing work on major projects during a recession.
“We expect the economy to be back to full strength when these projects come online and there are certain economic advantages to building when others are not.”
Construction commenced on Phase I of Ovation last fall with the 550-car structured parking garage which serves as the base for the unique indoor/outdoor concert venue. Work has continued on the state-of-the-art music pavilion and Corporex expects to complete the venue before year-end.
A 25-acre, mixed-use development in Newport, located on the Ohio riverfront directly across from the Cincinnati central business district. Ovation will be comprised of more than 900 residential units, restaurants, retail, hotels, and offices.
Corporex, the master developer of Ovation, is a national development and investment firm based in Covington. It has a 55-year history of developing world-class hotel, office, residential and mixed-use developments in 16 states across the U.S.
Learn more at www.corporex.com.
