River Haus luxury apartments could boost MainStrasse business

by Melissa Reinert

COVINGTON – Covington is getting ready for a big boom on MainStrasse: an increase in business and residency.

River Haus, a five-story luxury apartment building with first-floor retail – now under construction at 501 Main St. – is set for completion in 2019.

“With the amount of business growth in Covington in the last several years, there is a tremendous demand for housing, particularly urban housing,” Covington Economic Director Tom West said.

So, Covington put out a request for proposals for two acres of property at Fourth and Main streets, the tip of Covington’s MainStrasse.

MainStrasse, perhaps one of the most popular areas in the city, is a mixed-use area with homes, apartments, condos, small retail shops, a wide range of restaurants and bars, and two city parks.

Indianapolis-based Flaherty & Collins Properties answered the call. River Haus will have 192 luxury apartments. Monthly rent will range from about $1,000 to $3,000. Amenities include a courtyard with fire pits and pool, a sky deck, a pet wash, gaming and study lounge, and a 24-hour fitness center. There will also be a two-story parking garage for both residents and public.

Resident applications, according to lead developer Deron Kintner, will be accepted around early this fall and move-ins are expected to start in winter.

Kintner said Faherty & Collins is close to signing a lease with a business that will be a “great addition to MainStrasse.”

Tom West said the project will add to more “vibrancy” to an already “cozy, funky and interesting” area that is “walkable, bikeable and alive 24 hours.”

“Jobs follow talent,” he said. “A development like this will help us attract more businesses. One thing Covington has going for it is this urban environment that blends in new developments with its existing historic elements.”

The building at 501 Main built in the 1950s began life as a bank.

The city bought the building in 2005 at least in part to block a proposed public health clinic from moving in. Many in the public at the time opposed moving a public health clinic into an entertainment district like MainStrasse. Covington City Commissioners were excited to see a developer come forward in 2016.