Covington's newly-elected mayor, Ron Washington, is a fount of surprises, determination, and a deep affection for his city.
Covington's Transformative Riverfront Development
Covington, Kentucky, is set for a significant change with the redevelopment of the approximately 23-acre site previously occupied by the IRS Building. The project, led by the Silverman Group, is part of the Covington Central Riverfront (CCR) development and will see the construction of a large-scale residential and commercial mixed-use community [1].
The development includes the creation of 280 apartments, 7,700 square feet of commercial space, and a 133-space parking garage. Part of the financing for this $67.2 million project comes from a 20-year PILOT tax incentive agreement approved by Kenton County [1]. Two acres within the site, Blocks M and N, were purchased by CCR-MN Investment Partners for around $2.6 million in June 2024 [1].
There's also speculation that the site may be considered for the Commonwealth Center for Biomedical Excellence, a $125 million biomedical campus involving Northern Kentucky University and the University of Kentucky colleges, expected to be delivered by 2028 [3]. However, the precise location within the riverfront area has yet to be finalized.
In addition to these developments, Northern Kentucky University's Chase Law School and the University of Kentucky Medical School are expected to have locations on the site [2]. Moreover, twelve townhouses are being built on the same site, with half already sold.
The proposed development is a significant step for Covington, marking its first major riverfront development in decades [1][3]. The transition will also lead to a Mayor-Council form of government in two years, where the mayor acts as the chief executive, while a separately elected city council constitutes the legislative body [2].
Ron Washington, the newly elected mayor of Covington, has been instrumental in this transformation. A graduate of Holmes High School in 1986, Washington served as a member of the Covington Board of Commissioners for two two-year terms before being elected as Mayor Pro-Tem in 2020 and 2022, making him the highest vote-getter in those elections [4]. He also still serves as the PA announcer for all Lady Bulldog basketball games [4].
Washington has also started a transition committee to make a more efficient form of government [4]. The City of Covington will also see the addition of 350 new well-paying jobs with the arrival of Fischer Homes in six months [5]. Moreover, a hotel with approximately 250 rooms is planned, along with about 250 market-rate apartments and a land-bridge promenade park [5]. The name of the hotel has not been revealed yet.
Covington has recently been named one of Food and Wine Magazine's top small U.S. cities for food and drink in its 2025 Global Tastemakers awards [6]. The city's transformation, led by Mayor Ron Washington, promises to further enhance its reputation as a vibrant and attractive destination.
[1] Cincinnati Business Courier - Covington Central Riverfront project gets $67.2M in tax incentives [2] Cincinnati Enquirer - Covington to adopt mayor-council form of government [3] NKY Tribune - Commonwealth Center for Biomedical Excellence could be coming to Covington [4] Covington Independent - Ron Washington elected as Mayor Pro-Tem [5] Covington News - New development plans for the former IRS site [6] Food and Wine Magazine - 2025 Global Tastemakers awards
- The Riverfront Development in Covington, Kentucky, spearheaded by the Silverman Group, is projected to transform the city, with the former IRS Building site being redeveloped into a mixed-use community, including apartments, commercial spaces, and a parking garage.
- Local schools will also be part of the development, with Northern Kentucky University's Chase Law School and the University of Kentucky Medical School expected to establish locations on the site.
- The development has received financial support from a 20-year PILOT tax incentive agreement approved by Kenton County.
- The proposed changes in Covington extend beyond the physical landscape, with a shift to a Mayor-Council form of government expected within the next two years.
- The community's revitalization efforts have gained traction, attracting businesses such as Fischer Homes, which is anticipated to bring 350 new well-paying jobs to the city in the next six months.
- The artistic and cultural scene in Covington is also thriving, as it has been named one of Food and Wine Magazine's top small U.S. cities for food and drink in the 2025 Global Tastemakers awards, hinting at its growing reputation as a vibrant and attractive destination.
