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March 2021

How developers will transform former jail, administration building into apartments

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Monday March 29, 2021

How developers will transform former jail, administration building into apartments

A historical building in Covington, Kentucky is getting a big update. Kenton County’s 303 Court Street, a former city-county building and jail is becoming a multi-family development that will include commercial space. After five years of work setting up the project, Al. Neyer is proud to partner with Urban Sites on “The Hayden” which will begin construction in July. The building transformation comes with an address change. The Hayden will officially reside at 103 E. 3rd Street.

From Cincinnati Business Courier:

HOW DEVELOPERS WILL TRANSFORM FORMER JAIL, ADMINISTRATION BUILDING INTO APARTMENTS

Two Cincinnati developers are now primed to move forward with the redevelopment of a former office building into class A apartments.

Al Neyer and Urban Sites are partnering to redevelop the former Kenton County Administration Building at 303 Court St. in Covington to 133 apartments and 6,000 square feet of retail space. The project, which will be called the Hayden, is expected to be a total investment of be more than $31.4 million.

Danny Lipson, chief development officer, said he “couldn’t be more excited to bring the Hayden with its breathtaking views to one of the Tri-State’s greatest neighborhoods.”

The adaptive reuse project will transform the city-county administration building and jail into a mix of studio, one-bedroom and two-bedroom apartments. As part of the project, the building will be stripped to its 1969 concrete core, with a new exterior that include balconies. The developers will add two floors to its height.

Other portions of the project will include:

  • Gutting the interior and removing the jail cells
  • Demolishing the low-rise addition to the building that fronts Scott Street
  • Adding a new surface parking lot on Scott Street

Mayor Joe Meyer said the changes mirror the evolution of its uses over the years.

“What was built as a joint city-county government center more than 50 years ago and even housed prisoners for much of its life is set to become the proud home to hundreds of people and to become another iconic addition to the Roebling Point area,” Meyer said in a news release.

Dan Ruh, executive vice president and Cincinnati market leader for Al Neyer, said “with the help of the city of Covington, Kenton County, and the school board over several years,” he’s excited to see the project become a reality.

The project is moving forward after receiving approval earlier this week from the Covington board of commissions for the mayor to execute a development agreement with the developers that includes the issuance of industrial revenue bonds (IRB), a payment in lieu of taxes agreement and a tax increment finance district reimbursement for public infrastructure improvements. They also received unanimous approval from the Covington Independent School District board Thursday evening, clearing the way for the project to move forward.

The developers requested two incentives to close the funding gap on the project, a 20-year IRB with a 20% payment in lieu of taxes and TIF for public infrastructure improvements. The public infrastructure improvements are expected to include $150,000 in streetscape improvements, $240,000 for site utilities and $110,000 for sidewalks.

[…]

In June 2017, Kenton County selected the team of Turner Construction Co., engineering consultant Brandstetter Carroll Inc., architecture firm SFA Architects Inc., structural engineer THP Limited Inc., developer/design-builder Al Neyer and real estate developer Urban Sites to redevelop the former Bavarian Brewing property into the county’s administration campus. As part of that project, the county agreed to sell 303 Court St. to the Al Neyer and Urban Sites development team.

Urban Sites and Al Neyer are co-developing the Hayden. Al Neyer will handle construction of the project. Elevar Design Group is the architect for the Hayden. Urban Sites will handle property management of the completed project.

The Hayden will have a mix of 35 studios, 59 one-bedroom apartments and 39 two-bedroom units. The first-floor commercial space will likely be able to accommodate two or three tenants. The developers are looking at the possibility of providing operations and storage space for the weekly Covington Farmers Market.

The developers plan to begin construction on the project by July 15. Renovation of 303 Court St. into the Hayden is expected to take two years.

Read more from the article here.


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