Construction for industrial building behind Latonia Commerce Center underway

BY KENTON HORNBECK | LINK nky REPORTER

In a city with limited space for new construction, it’s rare for Covington to gain new industrial buildings. However, real estate developer CovCor found 8 acres of land to construct a large warehouse behind the revamped Latonia Commerce Center.

Construction is already underway for the 146,000-square-foot industrial building located at 135 W. 38th St. The project has a price tag of $17.6 million. CovCor owns the plot of land where the building is being put up, while Cincinnati-based ARCO National is in charge of construction.

“This is a huge project for Covington and fills a gap in the type of space we’re able to offer potential businesses,” Covington Economic Development Director Tom West said in April. “We don’t have a lot of industrial land that’s not already been developed.”

A groundbreaking ceremony was held on June 14 to christen the large construction project. Notable speakers included Coving- ton Mayor Joe Meyer, Heritage Bank President David Wallace and CovCor Principal Josh Niederhelman.

“The reason we chose this location was the city of Covington is in high demand and living here and being a part of the community,” Niederhelman said. “I see that demand on a consistent basis whether it’s from office, whether it’s from housing, whether it’s for industrial uses, the city of Covington is a real bright spot in the community of Northern Kentucky and Greater Cincinnati as a whole.”

In April, the Covington Commission approved a 15-year, $18 million Industrial Revenue Bond incentive package for CovCor, which includes decreased property taxes the company pays in exchange for the increase in payroll tax the industrial building will generate once it’s leased.

As of now, there are no tenants committed to leasing the building. Developers anticipate the building could house up to four tenants, according to the release. When filled, Covington Economic Development Department officials anticipate up to 100 jobs could be created.

The Latonia Commerce Center, formerly named Latonia Plaza, is transforming. The CovCor industrial building will join Keller Logistics, Enzweiler Building Institute and the Covington Academy of Heritage Trades in reorienting the complex’s purpose toward construction trades, logistics and in-

In 2021, a group of investors led by Niederhelman purchased the site for approximately $3.75 million. It was purchased from the Columbus-based Schottenstein Property Group, which had owned the property since 1964. The Commerce Center sits on the land that was formerly the historic Latonia Racetrack.

“It’s a great sign of faith and the continued growth of Covington generally and Latonia specifically,” Meyer said. “The significance of an industrial building should not be understated. We are in the midst of a massive reshoring of America’s industrial might, as we’re trying to bring things back within our borders.”