Hotel Covington was a challenging project involving the conversion of a Class C office building into a 116-room upscale boutique hotel. Developer Salyers Group restored this architecturally significant structure (the former Coppins Department Store building) and created a unique destination for business and leisure travelers and the local community.
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The award-winning hotel catalyzed adjacent investments, employs 85 local residents, and continues to bring new spending to Covington’s historic business district. The Catalytic Fund supported Hotel Covington by procuring a pre-development grant through Duke Energy’s Urban Revitalization Program, providing capital acquisition services, and making a direct equity investment in the project.