Professional Master Developer Services; Covington Central Riverfront (“CCR”) Phase II

The City of Covington, Kentucky Department of Economic Development is requesting Statements of Qualifications for a professional Master Developer to acquire and develop the Covington Central Riverfront Phase II mixed-use riverfront project, with SOQs due June 30, 2026 at 10:30 a.m. This is a complex urban development procurement in which the City will construct and deliver parking infrastructure and public improvements while the selected developer will develop private improvements on approximately 23 acres at a primary Covington-Cincinnati gateway.

The project scope encompasses a 670-space public parking garage and podium structure (to be built by the City), plus private overbuild and adjacent development featuring commercial uses, office space, residential components, retail operations, and public gathering spaces. The site qualifies as a federally designated Opportunity Zone and is zoned Central Riverfront Mixed-Use under Covington's code. Surrounding public investments exceed $3.6 billion, including the companion bridge to the Brent Spence Bridge and Fourth Street Bridge replacement. Qualified respondents must demonstrate experience with large-scale, complex mixed-use developments and provide evidence of financial capacity through letters from financial partners, lender references, and detailed statements regarding litigation, bankruptcy, or financial disputes. All selected developers must obtain occupational licenses and register with the Kentucky Secretary of State prior to contract execution.

The City is open to leveraging financial incentives including Industrial Revenue Bonds with property tax exemptions, discounted land sale pricing, utility and infrastructure support, and job development incentives. Evaluation criteria weight Technical Competence at 40 points, Financial Capacity at 35 points, Project Schedule at 15 points, and Overall Quality of Submission at 10 points. Requests for Information are due June 10, 2026 at 10:00 a.m. A shortlist will be announced July 10, 2026, followed by interviews the week of July 20th. Site tours are available by pre-scheduled appointment with the Economic Development Assistant Director.