The Kenton County Fiscal Court approved a development agreement allowing construction of a $26 million apartment project called The Bavarian atop its new County parking garage in Covington, ensuring optimal utilization of the site.
The apartment project is spearheaded by Merus, previously Al. Neyer, and Urban Sites and will include up to 125 units. Construction is anticipated to begin once the County’s garage is complete later this year.
“Preserving the historic Bavarian Brewery site was the first step in revitalizing Covington’s 12th Street Gateway,” said Judge/Executive Kris Knochelmann. “Now, The Bavarian will build on that progress by bringing new energy to the Kenton County Government Center and the surrounding area beyond business hours.”
Merus and Urban Sites will lease the development rights above and around the County’s garage. The Catalytic Fund, led by Jeanne Schroer, provided financial and project analysis to the County.
The County’s new parking garage, currently under construction, will include 248 spaces flanking the Kenton County Government Center. The garage replaces employee parking absorbed by the Brent Spence Bridge Corridor project. The Kentucky Transportation Cabinet is reimbursing Kenton County up to $15 million to cover the garage’s construction costs.
Having convenient and easily accessible parking to the Kenton County Government Center was a top priority when selecting the County’s long-term home, and the addition of this garage ensures that remains true. The project is expected to be complete in October.
Kenton County previously worked with Merus and Urban Sites as the development team for The Hayden, which transformed the County’s former administration building at 103 E. Third St. into 133 units of market-rate housing and 4,000 square feet of retail space. That project was completed in early 2023 and is fully stabilized.
(Editor’s note: No information was provided as to costs of the housing once it is completed.)
Kenton County Fiscal Court
The post Kenton Co. finalizes agreement for ‘The Bavarian,’ atop its new county parking garage in Covington appeared first on NKyTribune.
