Featured Press Release
Ovation Time Capsule Event and Pedestrian Bridge Ribbon Cutting Ceremony
NEWPORT, Ky. (May 10, 2023) – On Tuesday, May 9, Corporex commemorated the completion of the pedestrian bridge over Third Street in Newport, a major milestone for the Ovation development. A ribbon cutting and time capsule ceremony celebrated the connection of the two major sections of the development with community members, Corporex officials, representatives from the City of Newport and surrounding communities, other local and state economic development organizations and future residents of The Boardwalk Residences at Ovation.
Integral community partners and members of the media were invited to place items into the time capsule that was sealed and timestamped. Items that went into the time capsule included a letter from Newport City Manager, Tom Fromme, a key to the city, a police uniform patch, a Newport City parking ticket, a Newport Italianfest program, original blueprint plans from the development and much more. The capsule will remain sealed along Third Street, under the pedestrian bridge on the 25-acre mixed-use development in Newport until 2048.
The ceremony began with opening remarks from Tom Banta, Chief Real Estate Officer of Corporex.
“Corporex has built a reputation of bringing transformative projects to and outside of the region,” said Banta. “When we started Ovation, we saw another opportunity to have a project that was truly transformative to the community, to Newport, Campbell County, and frankly the whole Cincinnati region. This is a project of immense scale and will have economic impact beyond just the few buildings we build.”
This major milestone officially connects the original parts of the development – MegaCorp Pavilion, the Homewood Suites by Hilton at Newport/Cincinnati and Class A Office building – to future ones, including The Boardwalk Residences at Ovation and restaurant and entertainment offerings.
“Bridges connect us,” said the Mayor of Newport, Tom Guidugli. “This connecting bridge is critical for pedestrian and biking safety. All of our projects around town are committed to walkability and connectivity.”
Tucked along the Ohio River, Ovation is a 25-acre, urban mixed-use development at the confluence of the Ohio and Licking Rivers. Ovation will include a hotel, offer luxury residential units, Class-A office space, and entertainment and dining spaces.
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Ovation is a 25-acre, urban, mixed-use development sitting at the confluence of the Ohio and Licking Rivers. Ovation will continue to evolve to include a hotel, luxury residential units, Class-A office space, and entertainment and dining spaces. Learn more about Ovation at: ovationontheriver.com.
Corporex, the master developer of Ovation, is a national, privately held investment and development firm based in Covington, Kentucky. Corporex has a nearly 60-year history of developing world-class hotels, Class A offices, luxury residential and mixed-use developments in over 22+ states across the U.S. The company has more than $1B in assets under management, has built over 25M square feet, and generously invested in communities with more than $2.4M in corporate and foundation giving in 2022. Today, the company remains one of the leading privately held, vertically integrated owner/operators of commercial real estate in the country. Learn more at Corporex.com.
Lauren Vogel, on Behalf of Corporex
Public Relations Director