Duke Energy has teamed up with the Catalytic Fund to distribute Urban Revitalization grants to three Northern Kentucky recipients.
The program, which was launched in 2011, has distributed over $3.3 million to more than 100 grantees across Greater Cincinnati. The grants typically provide funding for pre-development costs and serve as catalysts for further economic development in the urban core.
“The Duke Energy Urban Revitalization Program has positively changed the landscape in our region’s urban cores,” said Amy Spiller, president of Duke Energy Ohio and Kentucky. “Bringing into existence the inspired visions of our grant recipients make this program so valuable to Ohio and Kentucky neighborhoods.”
The Catalytic Fund, which guides high impact real estate projects in the Northern Kentucky river cities of Dayton, Bellevue, Newport, Ludlow and Covington, secured the Urban Revitalization Grant funding for the three Northern Kentucky projects.
“We are grateful for our long-standing partnership with Duke Energy to impact the vitality of Northern Kentucky for the last decade. The support the Duke Energy Foundation provides to address the pre-development needs of these critical projects is paramount. We’re excited to continue to bring three more projects to fruition in the region,” Jeanne Schroer, president and CEO, Catalytic Fund.
Grant Recipients
• 401 Elm – Located at 401 Elm Street in Ludlow, the project will feature the redevelopment of two buildings by Challis and Lauren Hodge, the owners of Taste on Elm gourmet deli and Conserva, a wine and tapas bar. They will renovate the historic two-story corner commercial storefront building to include dining and event rental spaces, while a garage structure to the rear will be outfitted with a full commercial restaurant kitchen.
• 337 W. 11th – This project will restore a blighted and vacant historic corner commercial building in Newport’s Buena Vista neighborhood back into a contributing community asset. Newport resident and real estate and construction professional Luke Woerner will develop the project. Woerner will renovate the building to restore the original commercial storefront for a new small business and significantly update two residential units.
• Monmouth Street Mercantile – The project will transform a vacant historic building located at 722-24 Monmouth Street into a vibrant community hub, strengthening Newport’s downtown business district. Owners of The Baker’s Table Bakery and The Baker’s Table restaurant, Dave Willocks and Wendy Braun, will develop, own, and operate the project, which will bring a multifaceted retail business offering lifestyle products, home décor and wellness brands.
There have been a number of high visibility sites that have benefitted from a Duke Energy Foundation Urban Revitalization grant over the last decade. Hotel Covington, Braxton Brewing, Baker’s Table, Warsaw Federal Incline Theater, Kiki’s, Tortilleria Garcia, Regal Theater and Norwood Cider Company to name a few.
To learn more about how the Catalytic Fund and a Duke Energy helped launch the award-winning Baker’s Table in Newport, watch their story on the Duke Energy Youtube page.
Duke Energy Foundation
