This article highlights everything most of the things everyone here on UO has been saying.  This is far from a done deal, and it will not beat the Banks out of the ground by a mile.  They do not have all the land, nor is the public financing in place.  Two BIG ifs!

 

 

Hearing to Draw line on Ovation

 

By Greg Paeth

Post staff reporter

 

JOE MUNSON/The Post

PHOTO: http://cmsimg.cincypost.com/apps/pbcsi.dll/bilde?Site=AE&Date=20070809&Category=NEWS01&ArtNo=708090362&Ref=AR&MaxW=300&MaxH=280&border=0

Now overgrown with weeds, this is the site for the proposed Ovation development in Newport. The Campbell County Courthouse is in the background.

 

 

THE PROJECT

Ovation is a residential, commercial and retail development planned for the banks of the Ohio and Licking rivers. It will be on the site of a public housing complex torn down to clear more riverfront land for development.

 

Newport City Commission will hold a public hearing Monday that will focus on drawing final boundaries for the area that will be included in the Ovation development, a project that eventually could bring a billion dollars worth of new construction to the city.

 

http://news.cincypost.com/apps/pbcs.dll/article?AID=/20070809/NEWS01/708090362

Meanwhile, weeds have grown up on the property that Corporex bought.

 

Told about the unseemly growth on Wednesday, Fromme said he would take a look today.

 

City staff normally calls Corporex whenever the property needs mowing, he said.

 

You own the property...isn't it your responsibilty to maintain it.  Why do you need a city staff person to call you and notify you that your property needs its grass cut.  Corporex embodies every bad element of the real estate development/investment industry.

Meanwhile, weeds have grown up on the property that Corporex bought.

 

Told about the unseemly growth on Wednesday, Fromme said he would take a look today.

 

City staff normally calls Corporex whenever the property needs mowing, he said.

 

You own the property...isn't it your responsibilty to maintain it.  Why do you need a city staff person to call you and notify you that your property needs its grass cut.  Corporex embodies every bad element of the real estate development/investment industry.

 

It is ridiculous that the city needs to call corporex about this.  It is indeed Corporex's responsibility.

quote]

Corporex embodies every bad element of the real estate development/investment industry.

 

Wow. . . a little strong huh??  i'm sure Bill Butler would disagree with you...

 

it may not be perfect but would you rather them take their 1200 units and move out to Fort Thomas???

 

Just because things don't go as planned, i will never bad mouth an urban developer, especially when this project is one of the most important one to the cincinnati region, whether you would like to admit that or not...

I'm sorry, but being a developer that is known for maxing out sites, clear-cutting trees, building out of context projects and not maintaining their property in the mean time pretty much warrants the description in my humble opinion.

 

Sure they're proposing a lot of residential units in the center city, but that doesn't give them a free pass...they still have to live up to some standards of decency and quality.  I waiting for them to demonstrate either one.

Soooo, Randy how do u really feel about them? :wink:

Hell, even ackermann group takes care of their vacant lots.

Newport mulls Ovation district

Commission to decide boundaries for financing

BY SCOTT WARTMAN | CINCINNATI ENQUIRER

August 14, 2007

 

NEWPORT - The boundaries for the $1 billion residential/commercial complex known as Ovation could encompass as much as 35 acres in Newport and cover properties currently housing other businesses, including an auto parts store and a liquor store.

 

Newport City Commission held a public hearing Monday to help determine the boundaries of the area that may become a tax-increment financing, or TIF, district for the development.

Ovation tax plan OK expected

BY LUKE E. SALADIN | CINCINNATI POST

September 10, 2007

 

NEWPORT - Newport officials are expected to sign off today on a plan to help secure state and local tax incentives to build a new multi-use development at the confluence of the Ohio and Licking rivers.

 

At its meeting at 7 p.m., the Newport City Commission will vote on a plan that would allow Covington-based developer Corporex Cos. to set up a tax increment financing district for the complex, known as Ovation.

Hmm... *Thinking*

Something interesting I read in the economic report today...In the report it cited that roughly 78% of the created jobs would be filled by Kentucky residents.  I find that awfully hard to believe.

 

Oh and furthermore...this design makes me sick to my stomach every time I see it.  I REALLY hope they revise these designs, because I really don't want this commie block crap on the beautiful Ohio River.  Cincinnati gives Nky an absolutely gorgeous skyline to look at and this is how they return the favor...with cheese graters.

  Cincinnati gives Nky an absolutely gorgeous skyline to look at and this is how they return the favor...with cheese graters.

 

Well it is cheezy!...

Something interesting I read in the economic report today...In the report it cited that roughly 78% of the created jobs would be filled by Kentucky residents.  I find that awfully hard to believe.

 

If its getting tax incentives theres probably a mandate that requires certain % of jobs be filled by kentucky residents. But I don't know for sure.

Newport is taking another gamble.  There TIF allocation for NOTL certainly hasn't panned out as expected and the city is hurting financially now.  They are going to leverage their future revenues on yet another iffy project.  It is iffy because I don't know that it can be successful.  The Banks is ahead of Ovation's schedule and I just don't see the demand for the office space at both The Banks and Ovation...not to mention the amount of residential units.

 

I would love for two mega-projects to be doable, but I just don't know.  I think Newport needs to be very careful with their money and make this a better deal so that they can see increased money, in the near future (not 30 years from now), from this project.

County agrees to incentives for Newport's $1B Ovation

BY SCOTT WARTMAN | [email protected]

 

 

NEWPORT - Campbell County and Newport agreed this week to what could be about $200 million in state and local tax incentives that some say is necessary to start the $1 billion Ovation commercial and residential development on Newport's riverfront.

 

State and local government, however, could gross about $850 million in tax revenue over 30 years if the developer, Corporex Cos., builds the anticipated 1,000 homes, two hotels and 1.5 million square feet of office space, city projections show.

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20070928/BIZ/709280348/1076/BIZ

Does this story sound familiar to anyone else?

 

Fight brewing at Ovation

Corporex spin-off suing over plan to develop 'first-class' hotel

BY JON NEWBERRY | CINCINNATI BUSINESS COURIER

December 14, 2007

 

NEWPORT - Eagle Hospitality Properties Trust Inc., a Corporex Cos. spin-off that was acquired by private-equity investors earlier this year, has sued its former parent in federal court over the proposed Ovation development on Newport's riverfront.

 

Eagle claims Corporex's announced plan to build hotels in the Ovation project violates a strategic partnership it entered into with Corporex and its owner Bill Butler in 2004, at the same time Corporex spun off Eagle through an initial public offering.

"Eagle now contends that a planned 476-room full-service hotel at the Ovation development in Newport would directly compete with Eagle's Marriott and Embassy Suites hotels, which are just across the Licking River in Covington, less than a mile away. It also noted that Corporex has proposed building a pedestrian bridge, a light rail line and other means of connecting the two Kentucky riverfronts."

 

 

Are they actually arguing that a better connection between these two cities would be a bad thing?

^---I think that is probably just a snippet of information enquirer happened to place in that spot. I would think that would not be part of that lawsuit. Just the hotels.

I gotta laugh!

But would Corporex be building a pedestrian bridge and light rail line? I would think they would expect the city and state to do so.

^ Actually, it might not be a bad idea for Corporex to build it, assuming there's a right of way available that can be granted to them.  Since they (and Eagle) have so much development in the NKY riverfront, it would be to their advantage to connect it all as tightly as possible.  A light rail line seems excessive for the distance they'd need to cover, though, unless there was a tie in with the airport involved, which would give their developments an edge with travelers.

 

That said, I hope that this doesn't happen.  NKY and Cincinnati need to work together on a unified transit system, not build competing rail systems that don't connect in any way.  I'd vastly prefer to see the 2nd phase of the Cincinnati Streetcar loop from Cincy through Covington and Newport via the Suspension Bridge, 4th Street Bridge, and the unused half of the Southbank Bridge.

I guarantee that this would be for a streetcar route and not a light rail route.  I'm betting that either the reporter or the person they talked to doesn't quite understand the difference between the two.  It would make ZERO sense to try to build a light rail line from Covington to Newport...a streetcar line though would make perfect sense (especially when you're connecting it into another portion of a larger 4 mile system).

Actually in the late 90's the I-71 light rail study included an alignment across the Taylor-Southgate Bridge into Newport that then turned west into Covington, although I don't know where exactly the Licking River crossing was supposed to be.  So far as tunneling under the Licking River, there would have to be some type of bulkhead in place so that if the flood walls of one or the other were breached the water couldn't enter the opposite city through this tunnel. 

Actually in the late 90's the I-71 light rail study included an alignment across the Taylor-Southgate Bridge into Newport that then turned west into Covington, although I don't know where exactly the Licking River crossing was supposed to be.  So far as tunneling under the Licking River, there would have to be some type of bulkhead in place so that if the flood walls of one or the other were breached the water couldn't enter the opposite city through this tunnel.

 

Yes I know...but that was a portion of a light rail system, not a stand alone one.  That's the only point I'm making.

Well, this is different. Bill Butler was one of the leading opponents of the LRT/streetcar plan in 2002. Maybe his years of buiding in Denver have changed his mind.

Well, this is different. Bill Butler was one of the leading opponents of the LRT/streetcar plan in 2002. Maybe his years of buiding in Denver have changed his mind.

 

Maybe...I wouldn't put any faith in him yet.  He may very well just be giving everyone lip service to gain necessary support.

Newport waits for Ovation

$1 billion project slated to break ground soon

By Scott Wartman • [email protected] • July 14, 2008

 

 

NEWPORT - Grass, weeds and utility poles populate the site of the largest commercial/residential development planned in Newport.

 

The $1 billion Ovation project, however, should break ground some time late this year or early 2009, according to the city and the developer, Covington-based Corporex Cos.

 

http://news.cincinnati.com/apps/pbcs.dll/article?AID=/20080714/NEWS0103/807140330/1170/NEWS

Slackin!!    :wink:

Nice to see a story about this.  Those of us that have to look at the thing every day have been wondering what was going on.

I don't think Bill Butler is much of a lip service kind of guy... I have a feeling that if he says this thing is happening, it's Happening... IMO

This is all great to hear.  Its a very healthy competition between NKY and Cincy.  We have The Banks and QCS and NKY is getting the Dayton development and Ovation.  In the long run both sides will benefit from eachother and all of the sudden we have a very cool destination for people.  It's like feeding candy to a fat kid.  They just keep getting fatter as the candy gets bigger lol.

now all we need is a streetcar running from the ovation to NOTL to the Banks to OTR to Uptown

This is great news!!  The basin is going to look so different in 4-5 years!

"The townhomes that are part of Ovation will have the most spectacular view of the river and city," she said, speaking about the company's confidence in Ovation's marketability. "They are such a unique property. There will be a demand."

 

The developers in Miami probably thought the same thing.  I would love to see a great project rise out of the ground here...and be very successful.  I just don't think that is going to happen though...Bill Butler makes me very uneasy.

 

I don't think Bill Butler is much of a lip service kind of guy... I have a feeling that if he says this thing is happening, it's Happening... IMO

 

I'll believe it when I see it.  I tend to think you're going to see a greatly scaled-down project when they release the detailed drawings.  If that is not the case then build out will be spread over something like 15-20 years.

^ I think that as long as they get the garages built it will be a win for Newport.  They could really use the parking during festivals and whatnot, and as Cincinnati has found with the Banks, getting the necessary infrastructure in place is half the battle with these types of developments.  Yes, Newport doesn't have to worry about flooding like Cincy does, but they have the problem of not being able to see over their protective floodwall to deal with.

 

What confuses me is how the streets are going to work.  NOTL sits atop similar garages, and is totally disconnected from the rest of Newport.  The renderings for Ovation show streets with cars, so how are those going to connect?  Ramps?

I would be surprised to see any high-rise for this project anytime soon.  They have three years left on their TIF agreement, then they will seek an extension... it will get approved because they start building the town homes and newport officials are all giddy... complete build out will be in 15-20 years. (as UncleRando stated) Current newport officials will be on their death beds taking credit for this project that has probably been scaled down as mention in the previous post.  :-D

^ If so, I hope that it doesn't totally block the view of the historic Campbell County Courthouse.  That building is gorgeous.

 

^ If so, I hope that it doesn't totally block the view of the historic Campbell County Courthouse.  That building is gorgeous.

 

I don't know Billy B...but I think I know enough about him to know that he probably doesn't give 2 sh!ts about the view of the historic Campbell County Courthouse.  He cares about the bottom line and nothing else...just my thoughts though.

^ If so, I hope that it doesn't totally block the view of the historic Campbell County Courthouse.  That building is gorgeous.

 

I don't know Billy B...but I think I know enough about him to know that he probably doesn't give 2 sh!ts about the view of the historic Campbell County Courthouse.  He cares about the bottom line and nothing else...just my thoughts though.

 

Actually, I don't think he should be concerned with it, especially since we're only talking about what is and isn't visible from GABP.  I'm just hoping that it works out that way.

I don't think Bill Butler is much of a lip service kind of guy... I have a feeling that if he says this thing is happening, it's Happening... IMO

 

Remember his marina over in Covington?

 

I'm with Rando, I'll be interested to see how the coming scaled down renderings will look

Start date for Ovation construction's a mystery

Corporex updates, gives no timeline

By Scott Wartman • [email protected] • October 7, 2008

http://nky.cincinnati.com/apps/pbcs.dll/article?AID=/AB/20081007/NEWS0103/810070390

 

NEWPORT - The large riverfront residential/commercial complex Ovation will bring billions of dollars annually to Northern Kentucky, representatives of the developer, Corporex, told Newport City Commission on Monday.

 

When construction will start is still not known.

I'd like a more definite timeline, but at least they're staying positive.  I'm not sure where the current economic crisis leaves projects like this that are basically unstarted.  Sounds like we'll know something, one way or the other, in about 3 months, though.

Hmmm

Well the economic "crisis" is in everyone's heads.  It's all driven by premature fear and thats it.  Once people realise this, everything will be back to normal like it always is.  Fear is a nasty thing.  Ovation will be awesome when its actually built.  Hopefully sooner than later.

You'd better believe if this project was in Kentucky it would have been started by now....oh....wait.  KIDDING!

Well, it's not yet had multiple false starts and developers backing out of the project either...  :evil:

You'd better believe if this project was in Kentucky it would have been started by now....oh....wait. KIDDING!

 

that's awesome, wish i could press a recommend button like on cincinnati.com

You'd better believe if this project was in Kentucky it would have been started by now....oh....wait. KIDDING!

 

that's awesome, wish i could press a recommend button like on cincinnati.com

 

You can - just click on the link.

I drove drove past the site today for the first time in a few weeks, and there are several large piles of dirt and some heavy equipment as well.  Anyone know what's going on?

I drove drove past the site today for the first time in a few weeks, and there are several large piles of dirt and some heavy equipment as well.  Anyone know what's going on?

 

Nothing...could it just be left over equipment from the demolition work that happened there?