Ovation, which sits on a 25-acre site along the Ohio and Licking Rivers in Newport, near the Covington Fourth Street Bridge and newly completed connector of Route-9, will house shops, restaurants, a riverfront park and a $40 million dollar concert venue managed by AEG Presents/PromoWest.
Banta said that with 900 residences planned for the development, the concert venue helped tie in the vibrancy needed to keep the development inclusive and thriving.
The concert venue that is expected to draw up to 400,000 people a year to the development, hotels are part of the plan as well.
"There's probably going to be three hotels on the site," he said. "We're looking at a boutique kind of concept right now for the first one."
When completely built in 8 to 10 years, the total investment for the project is expected to near $1 billion. However, concerts in the new music venue are expected by the end of 2020.
"I think it certainly has the opportunity to be the kind of development that draws national attention," Banta said. "It's exciting times in Northern Kentucky."
Via FTM Media Partner, WCPO.