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Newport, KY: Ovation

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Start date for Ovation construction's a mystery

Corporex updates, gives no timeline

By Scott Wartman • swartman@nky.com • 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.

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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.

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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.

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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

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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.

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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?

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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?

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Nah.  This stuff wasn't there a couple of weeks ago.  I think there was a bulldozer, a dump truck, and possibly one other large vehicle.  Also, these piles of dirt are huge.  One of them completely conceal's the floodwall's pumping station, and that station is 15 feet tall easily.  I wonder if they're using the site to store dirt for one of the other local projects or if they're bringing unneeded dirt from another project to the Ovation site for future use there.

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I took these pictures about a month ago and forgot to post them.  These dirt piles are about twice this size as of this weekend.  I wonder if the Ovation site is being used to store excess dirt from The Banks or QCS2 sites.

 

ovation1.jpg

 

ovation2.jpg

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Can you guys imagine ... With Ovation, The Banks, and a streetcar, this area would have to be one of the best urban spaces in the midwest.

 

Yep, I just hope that the streetcar makes it over to Ovation/NOTL and Covington.

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Can you guys imagine ... With Ovation, The Banks, and a streetcar, this area would have to be one of the best urban spaces in the midwest.

 

Yep, I just hope that the streetcar makes it over to Ovation/NOTL and Covington.

 

The Purple People Bridge has an entire side that's not being used. Throw some tracks over it and connect with Cincy's streetcars!

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Can you guys imagine ... With Ovation, The Banks, and a streetcar, this area would have to be one of the best urban spaces in the midwest.

 

if done properly.  we'll see. 

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Can you guys imagine ... With Ovation, The Banks, and a streetcar, this area would have to be one of the best urban spaces in the midwest.

 

Yep, I just hope that the streetcar makes it over to Ovation/NOTL and Covington.

 

I think it would be great, but Nky will have to pony up if they truly want to connect into the streetcar system.

 

The Purple People Bridge has an entire side that's not being used. Throw some tracks over it and connect with Cincy's streetcars!

 

Streetcars would probably be better suited for the US 27 bridge (newer one to the west of PPB) leaving the Purple People Bridge open for any potential light rail plans.

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I think it would be great, but Nky will have to pony up if they truly want to connect into the streetcar system.

 

Definitely.  The question is whether both sides will drop the KY vs. OH bit to work together on that, assuming that KY even wants in.  I'm hoping for the best, though.

 

 

Streetcars would probably be better suited for the US 27 bridge (newer one to the west of PPB) leaving the Purple People Bridge open for any potential light rail plans.

 

I like the sound of that!

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I have dreams at night of being able to hop onto a Streetcar on Fairfield Ave, take it to Newport and across the river to the Banks, Findlay or Uptown.....

 

 

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$800M project still dirt, dreams

By Scott Wartman • swartman@nky.com • November 25, 2008

 

 

 

NEWPORT - Mounds of dirt have been dumped on the Ovation site in preparation for construction.

The developer Corporex, however, doesn't know when construction will start.

 

Corporex trucked in the fill dirt to the site and will use it when construction begins, said Debra Vicchiarelli, spokeswoman for Corporex.

 

http://nky.cincinnati.com/apps/pbcs.dll/article?AID=/AB/20081125/NEWS0103/811250390

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There seems to be a much less condescending tone with this article than similar ones written about certain places to the north, almost more informative rather than speculative, kind of how news is supposed to be written.  strange....

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Well, give it 7 more years or so of sitting undeveloped and see what happens.  Ovation's only been in the works for a couple of years now, and appears to be prepping to break ground in the near future.  The Banks sat untouched for a decade with several false starts along the way.  Not that the Enquirer doesn't have an NKY bias, but comparing these 2 projects isn't really fair at this point.

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"You can build through tough economies, but until the financial markets settle down some, frankly (tax-increment financing) projects right now, the bonds just aren't selling, across the country."

 

Kind of a scary statement. "America is broke."

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I predict that this will happen, but not for another 3 years at best.  With The Banks now underway Ovation will either have to catch up big time and compete for the same residents and business, or wait until demand is built back up over time.  While Cincinnati is a healthy market from my perspective, I'm just not sure we can handle two $1 billion+ projects like this right next to one another in addition to all the other major projects (Manhattan Harbour, QCS, Gateway Quarter, heck City West still isn't built out yet, SouthShore, Ascent, etc).  I just don't see it being a realistic possibility for this thing to happen any sooner.

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^Agree mostly.   

  I still hope that this happens, though realistically it may have to wait til the Banks is at least 4-6 years into construction or more.    Corporex may have to wait a number or years to see how this market takes downtown (sales, leasing, etc.)  I don't think financing will be an issue once it starts flowing again, especially for urban projects like this.   

 

Cincy took the high ground and broke dirt first, for a change!  :wink:  Hopefully, another sign of a "Progressive" population afoot!

 

It's going to be all about the numbers!!!  And those numbers will have to include NKY.

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^I hope the project happens too, and I feel pretty confident that the state of Kentucky will throw some big time money Ovation's way to help make it happen.  With that said you can have the financing in place but still not have a market for the product you're trying to create.

 

I think it's all just a matter of time at this point and think many people will start to realize that $1 billion+ projects don't happen overnight like they expected with The Banks.  I see Ovation taking just as long just because that's how these things happen.  Urban projects are complicated and expensive, and it takes time to make them work.

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Hopefully they take a hard look at how Cincy is doing it.  I'm not a huge fan of the original renderings or at least the street level atmosphere.  I think it resembled South Shore and Assent TOO MUCH!  They need to get more people out and about on foot.  And that COULD turn NOTL into something real big then!! It's not far at all.

 

I do, however love the heights they are throwing around in those pics!  A Newport skyline would look TOO SWEET from inside GABP!

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Ovation start waits for financing to open up

Live, work, play project brings entertainment hub

Business Courier of Cincinnati - by Lucy May

 

There’s nothing delaying the billion-dollar Ovation project planned for Newport’s riverfront that an economic rebound couldn’t fix.  The mixed-use development is still “a major focus” for Corporex Cos., said Debbie Vicchiarelli, Corporex’s chief marketing officer.

 

“We’re doing all the pre-work that it takes to make Ovation a success,” she said. “But until the financial markets break, we’re not talking about any kind of (construction) dates.”  Ovation is still planned as a billion-dollar, live-work-play development with a substantial entertainment portion.  “We still envision it to be a new hub for the Cincinnati region,” she said.

 

Read full article here:

http://cincinnati.bizjournals.com/cincinnati/stories/2009/08/17/focus6.html

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