By David Rotenstein
NKyTribune reporter
The City of Covington announced plans to buy an 8-acre industrial site at 1301 Madison Ave. The city, Kenton County, the Northern Kentucky Port Authority, and the Catalytic fund held a press conference inside the historic building complex.
“Today marks a defining milestone for the city of Covington,” Covington Mayor Ron Washington said. “What we are announcing is more than a real estate transaction. It’s a pivotal step toward unlocking the next stage of redevelopment south of 12th Street and a unifying milestone for our Westside and Eastside neighborhoods.”
Covington City Manager Sharmili Reddy told the NKyTribune that the $4.5 million deal needs to close by Feb. 15. It still needs approval from the Covington Board of Commissioners and the Kenton County Fiscal Court. The Catalytic Fund has already approved a loan for the project.
Plans for the site have not yet been completed.
“Part of the next steps with this project is to figure out the highest and best use of the property,” Reddy said in an interview after the program. “We’re going to work on, you know, some developer summits and things like that.”
One of the city’s first steps after the deal closes is starting the process to have the property nominated to the National Register of Historic Places. A National Register listing would bring additional funds to the city for redevelopment through historic preservation tax credits.
Built after the Civil War as repair shops and a roundhouse for the Kentucky Central Railroad (later, the Chesapeake and Ohio Railroad), the Cincinnati-based Triangle Paper Bag Company opened a plant there in the early 1930s and expanded the existing buildings.
After prolonged litigation, Triangle liquidated its assets in 1959 and the Ludlow-based Duro Paper Bag Manufacturing Company bought the business. The railroad company still owned the land, according to former maintenance supervisor Jeff Cahill.
“I remember every summer I would be here working making bags, and it is something that I will never forget,” Charles Shor told the crowd. His family owned the Duro Paper Bag Manufacturing Company, which owns the site.
Duro moved its production to Boone County in 1985 and continued to use the Covington complex for logistics. The building has been vacant since 2014.
