Covington is expected to announce developers later this summer for at least part of the 23-acre former IRS site. It has four requests for proposals out for the first four blocks of the property.
The building was demolished last year, nearly 55 years after it opened. WVXU got one of the last tours inside the massive structure.
Economic Development Director Tom West says he hopes to have news to report by the end of July. "The first batch on the first block is due before the end of this month and the other three follow week by week after that."
The addition of new entertainment, restaurants, retail and coffee shops in Covington is generating excitement for developers looking for major investments in the Northern Kentucky city.
RELATED: A last look inside Covington's IRS building before it's demolished
According to West, "That is what gives us the vibe that makes these larger projects possible. It's that vibe that attracts business investors, real estate investors and people who want to live in the COV."
Exactly when we will see construction is still up in the air. West says it depends on the developer. "We could see some dirt being turned before the end of this year still. This is possible, not probable, but possible.”
The project includes single family homes, townhouses and commercial and mixed-use development.
The four parcels of land run along Fourth Street, beginning at the approach to the Clay Wade Bailey Bridge (Main Street) and ending just before Madison Avenue.
Here is a Covington Central Business District fly-through on what the project could look like when finished.
