By Andy Furman
NKyTribune reporter
Move over – The Banks has some real competition.
The Ovation Project – a $1 billion, 25-acre project – was unveiled to media and VIPs Tuesday afternoon at the Ovation Experience Center in Newport.
The Experience Center is located under the PromoWest Pavilion at Ovation — that concert venue debuted in August, 2021.
And after the viewing, well, it could easily have received a Standing Ovation.
The project will sit at the confluence of the Ohio and Licking Rivers.
Corporex is investing over $180 million dollars in the next year to bring this project to life.
“Ovation will grow over three phases,” Tom Banta, managing director of Corporex told the assembled audience.
“Those phases,” he added, “will include approximately 500,000 square feet of Class A office space, 1,000 residential units, 524 hotel rooms, an Ovation Membership Club, and 125,000 square feet of retail and entertainment.”
Banta was quick to point out that the entire Ovation Project is bigger than downtown Cincinnati’s project – The Banks.
It has been the vision of Corporex to revitalize and develop the community near the river, with Newport being a key part.
The view from inside a condo (Renderings provided)
Corporex purchased the land with the intention of creating a mixed-use development at a level this region has never seen before, according to Banta.
Banta said he follows the acronym – CASA – Color, Architecture, Sound and Art.
The Ovation Project seems to gain check marks on all four.
A total of 88 condos – to be called The Boardwalk Residences – will be 1,800-square feet units, with at least two bedrooms. They will be listed around “a million,” according to Banta; and will be in three separate buildings at 101 W. Fourth Street.
There will be eight different floor plans, and Banta said they will start collecting contracts for purchase, March 1st.
“We’ll have a preferred buyers list,” he said, “just like when we built the Ascent in Covington.”
Illumination Square
Banta added that the condo units will sit above 36,000 square feet of street-level retail space overlooking the rivers.
Features in The Boardwalk condos will include: Fitness Center, Direct Elevator, concierge, Rooftop Pool, Private Balconies and connected appliances.
“In fact,” Banta said, “all appliances have already been ordered. We shouldn’t have a problem with delivery.”
Also, on the plan – an additional 500,000 square feet of retail and office space and a new 1,600 car parking garage.
That garage will serve as the base for the residential as well as the commercial spaces.
Tom Banta was quick to point out the Ovation Project is bigger than The Banks.
He forgot to mention — it’ll be better.
Congratulations The Golden Triangle continues to shine with this gateway to the South. Dreams do come true with Godly Principles and imagination that opens the doors for all of our citizens red,yellow, brown, black, and white, born and unborn children and seniors unique and diverse police officers and first responders and teachers and students and preachers and priest and FARMER’S and CITY folks and SOLDIERS and GOVERNMENT SERVANTS and WORKERS and OWNERS and Doctors and Nurses and staff and media and press, and all of God’s children for they are all precious in Jesus SIGHT. Thank you Bill Butler and as we build this fabulous structure on the grounds explored by our early pioneers let us all remember our history and philosophy of the love of Jesus and that it is more blessed to give than receive. Let us all faithfully strive to” lift up” those in need around us. Northern Kentucky is in a unique position to lead the TRISTATE and the COMMONWEALTH due to the great families of builders who have grown up with their roots in the TRISTATE and in particular Northern Kentucky. Building these super structures requires workers and skilled craftsmanship and give us opportunities for all of our citizens, but we must be VILIGENT in our efforts to train and educate and give a lift up so all citizens will benefit from this opportunity and others to lift all boats to safe passageway through life.