$40 million apartment project in MainStrasse moving forward bizjournals.com/cincinnati/news/2017/03/14/40-million-apartment-project-in-mainstrasse.html
Tom Demeropolis A large, luxury apartment project in Covington’s MainStrasse Village is preparing to break ground soon. The development also has a new name. Flaherty & Collins Properties is developing the two-acre site at 501 Main St. into a 189-unit luxury apartment building called River Haus. In total, this is a nearly $40 million project.
Deron Kintner, general counsel with Flaherty & Collins, said the location and surrounding area made this an attractive site for the residential development. “First and foremost, you have MainStrasse Village, a built-in amenity that, quite frankly, you don’t often get when doing a development like this,” Kintner told me. Plus, he said, the site is within walking distance of downtown Cincinnati. “There has not been a property like this in Covington,” Kintner said. “That market hasn’t been tapped yet.” About 70 percent of the apartments at River Haus will be one-bedroom units with twobedroom units making up the remainder. Kintner said rent will range from about $1,000 to $2,000 per month. The apartments will be built on top of a 314-space parking garage. The first floor also will have a 4,000-square-foot space for a commercial tenant. Flaherty & Collins hasn’t started marketing the space yet. The apartments will have amenities similar to other “best-in-class” apartments in the Cincinnati region, Kintner said. The one-bedroom apartments will be about 750 square feet, while the two-bedroom units will be about 1,100 square feet. River Haus will have two courtyards, as the building is designed in an “A” shape, with a saltwater pool, outdoor kitchen, grills, a sky deck, a fitness center and WiFi throughout.
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