Northern Kentucky leaders certainly cannot be faulted for their lack of big plans, but their implementation has been suspect over the past decade. A multi-billion plan in Newport, for example, called Ovation sits as an overgrown lot on the city’s riverfront. Meanwhile, in Dayton, KY, officials there have been working for years to try to make Manhattan Harbour a reality. The 73-acre riverfront development would include high-rises, condos, shopping, a marina and more, but will it ever happen? More from the Cincinnati Enquirer:
DCI’s project with the city has been scaled down from a $1 billion investment to a $300 million to $500 million development. The newest version will have 45 upscale single-family building lots under the name the Commons, a combination multifamily, high-rise condominiums and single-family homes with a mix of commercial development in an area called the Lookout, and luxury multifamily apartments in an area called the Vistas.
Manhattan Harbour’s mixed-use development has been in the works since 2005, when DCI signed the development agreement with the city, which owns the land. In 2008 and 2009, nearly a half-billion dollars in state and local tax incentives were approved for the project. A $10 million sewer line was laid in 2010 to prepare for development. A 20-year tax increment financing district was created for the site.
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