The City of Covington joined Silverman and Company, Messer Construction, KZF Design, elected officials, and community partners to celebrate the groundbreaking of Riverstone Place, the first mixed-use development at the Covington Central Riverfront, marking another major milestone in the transformation of the City’s 23-acre riverfront development.
Located on a 1.5-acre site, Riverstone Place will feature approximately 269 market-rate apartments, 8,000 square feet of ground-floor retail space, and 133 structured parking spaces. Additional resident parking will be available in the nearby Kenton County parking garage.
Silverman and Company purchased the property from the City in late 2025 for $2.6 million. Once complete, the six-story development will offer new retail opportunities, structured parking, and a premium package of resident amenities while bringing new energy and activity to the Covington Central Riverfront.
The groundbreaking represents the latest step forward in one of the largest urban redevelopment projects in the region. When complete, the 23-acre Covington Central Riverfront development will restore the historic street grid and create a vibrant mixed-use neighborhood featuring a mix of housing, commercial spaces, public green spaces, and new opportunities for investment and growth.
“Today’s groundbreaking marks the beginning of the first true mixed-use destination within the Covington Central Riverfront,” Mayor Ron Washington said. “With new townhomes already welcoming residents, single-family homes taking shape, and now Riverstone Place bringing apartments, retail, and commercial activity to the neighborhood, our vision for the riverfront is becoming a reality. The momentum continues to build, and we’re excited to see this new neighborhood come to life as a place where people can live, work, shop, and connect.”
“The site’s convenient location will provide residents with easy, walkable access to not only the Covington Central Riverfront, but to multiple adjacent Covington neighborhoods, the Roebling Bridge, the Northern Kentucky Convention Center and the recently announced Commonwealth Center for Biomedical Excellence,” Ryan Silverman, Vice President of Silverman and Company, Inc, said.
“Messer is proud to stand alongside the City of Covington, Silverman & Company and KZF Design as we celebrate the groundbreaking of the Covington Central Riverfront mixed-use project,” Messer Vice President Pete Bergman said. “This is the kind of complex, transformational work that energizes our team because of the impact it will have on the Covington community.”
Riverstone Place builds on the growing momentum at the Covington Central Riverfront, where additional development opportunities continue to attract private investment.
As the neighborhood evolves, the project will create new housing options and public green space, expand retail opportunities, establish a walkable destination that serves residents and visitors alike, and strengthen Covington’s connection to the Ohio River for generations to come.
City of Covington