Market Lofts

209-11 W Pike Street, Covington, KY 41011

Specifications

  • Developer: Orleans Development
  • 15 Market-Rate Apartment Units
  • Total Project Costs: $1,143,000
  • The Catalytic Fund provided subordinate mortgage gap financing for this project.

The Market Lofts is the conversion of two vacant, blighted historic buildings into 15 market-rate apartments. The units range in size from 750 to 1250 square feet and feature high-end contemporary finishes. Located in Covington’s emerging tech corridor, Market Lofts provides quality rental housing for nearby workers and will spur additional development opportunities along the Pike Street Corridor. Market Lofts broke ground in July of 2013 and was fully leased out prior to its grand opening in March 2014.

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Pike Star

108-12 W Pike Street, Covington, KY 41011

Specifications

  • Developer: Orleans Development, Center for Great Neighborhoods, and Marc Tischbein
  • 7 Market-Rate Apartment Units and 4,500 Square Feet of Commercial Space
  • Total Project Costs: $1,106,000
  • The Catalytic Fund provided subordinate mortgage gap financing for this project.

Pike Star is a 20,000 square foot mixed-use commercial/residential project located along the Pike Street Corridor in Covington, KY. The project created street-level office/commercial space and seven market-rate apartment units on the upper floors. UpTech, a technology start-up incubator, currently occupies the street-level office/commercial space. Pike Star broke ground in July of 2013 and was completed early 2014.

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Kentucky Career Center

1324-1414 Madison Avenue, Covington, KY 41011

Specifications

  • Developer: City of Covington
  • Home to the Commonwealth of Kentucky’s Kentucky Career Center, Brighton Center, Goodwill, Transit Authority of Northern Kentucky, and the Northern Kentucky Area Development District
  • Total Investment: $4,800,000
  • The Catalytic Fund provided comprehensive development services and facilitated the agreements and leases necessary to execute this project.

The Kentucky Career Center is the transformation of the former Robke Chevrolet Dealership into a state-of-the-art employment and education facility. The 30,000 square foot building houses 66 employees, currently at other locations, in an effort to create more comprehensive services in one convenient location. The facility serves as an anchor for employment, training, and career building services for the Northern Kentucky region.

Life Learning Center

20 W 18th Street, Covington, KY 41011

Specifications

  • Developer: Life Learning Center
  • Public Private Partnership
  • Total Investment: $4,000,000
  • The Catalytic Fund provided development services and facilitated the agreements necessary to execute this project.

The Life Learning Center project is the conversion of the vacant, historic and blighted Stewart Iron Works building into the permanent office and education center for the Life Learning Center. The Life Learning Center is a United Way social services entity that provides a comprehensive curriculum in employment and life skills for individuals.

Scholar House – Newport

W 6th Street, Newport, KY 41071

Specifications

  • Developer: Model Management, Brighton Center, Newport Millennium Housing Corporation III
  • 48 Apartment Units and On-Site Daycare Facility
  • Total Investment: $8,735,000
  • The Catalytic Fund provided standby financing which enabled the developer to receive a LIHTC award from the Kentucky Housing Corporation.

The Scholar House Newport development is the construction of 48 subsidized apartments and daycare facility. Family Scholar House is a statewide housing and education initiative for qualifying low-income single parents enrolled in a two or four-year college degree program. The program provides combined benefits of affordable housing, childcare, counseling workshops, and other support for residents while fulfilling academic course work as fulltime students. The development is located in Newport’s Westside neighborhood near the Licking River.

Mutual Building

619-629 Madison Avenue, Covington, KY 41011

Specifications

  • Developer: Mutual Building, LLC. (Bill Kreutzjans, Jr., Guy van Rooyen, Ashley Commercial)
  • 15 Market-Rate Apartment Units & 11,000 Square Feet of Commercial Space
  • Total Project Costs: $2,659,500
  • The Catalytic Fund provided subordinate mortgage gap financing for this project and coordinated all aspects of project financing including primary debt, city loans and grants, and Duke Energy Urban Revitalization Grant for this project.

The Mutual Building is a historic renovation of one of Covington’s most prominent buildings into a mix of uses that will include 15 market-rate apartment units on the upper two floors and ground floor commercial space. The 26,865 square foot building is located at the intersection of the City’s most historically significant streets right in the center of Covington’s re-emerging business district. Built in 1921, the building originally housed the Covington Industrial Club (a precursor to the Chamber of Commerce), offices for the Mutual Insurance Company and numerous restaurants. The redevelopment plan has returned this architectural jewel to its former prominence and catalyzed the return of this location as Covington’s hub of New Economy business activity.

Please contact Bill Kreutzjans, Jr. at Ashley Commercial if you are interested in leasing commercial space in this property.

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Hotel Covington

638 Madison Avenue, Covington, KY 41011

Specifications

  • Developer: The Salyers Group
  • 114-Room Boutique-style Hotel with an upscale Restaurant, Bar and Patio
  • Total Project Costs: $21,500,000
  • The Catalytic Fund provided an equity investment and comprehensive development services including serving as fiscal agent for a Duke Energy Urban Revitalization Grant.

The Hotel Covington project is the conversion of a historic architectural gem in downtown Covington to a modern, upscale boutique-style hotel. Originally home to Coppin’s Department Store when it was built in 1908, the brick building is known as Covington’s first skyscraper with seven stories and nearly 78,000 square-feet. Upon completion, the former department store will feature 114 luxury hotel rooms, as well as an upscale restaurant and a bar with a rooftop patio complete with views of beautiful downtown Covington. The hotel will combine the unique elements of the original structure with all of the amenities of a modern-day luxury hotel, and will be a major anchor of economic activity in Northern Kentucky’s blossoming urban core.

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Boone Block Lofts

406-422 Scott Boulevard, Covington, KY 41011

Specifications

  • Developer: Orleans Development
  • 9 Single-Family Attached Townhomes
  • Total Project Costs: $3,286,490
  • The Catalytic Fund provided subordinate mortgage gap financing and comprehensive development services for this project.

The Boone Block project is the conversion of a 24,720 square-foot historic building into nine single-family attached townhomes. Each unit will be comprised of three levels, an oversized one-car garage, a gated courtyard, a deck and an optional balcony. Sizes will range from 2,185 to 5,000 square feet. Originally built in 1872, the structure has changed hands on several occasions, however many of the original architectural elements remain. The new renovation will feature a very distinct and modern floor plan that attracted five buyers before construction even began.

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