Covington, City Pharmacy

Closing Date: May 3, 2018
On May 3, 2018, GCF provided a $250,000 loan to the City of Covington Downtown Development Authority for the renovation of a commerical building located at 1105 Church Street in downtown Covington. The Authority provided a simultaneous loan to City Concept Group Ltd. Co., the project's developer. The completed project houses an upscale restaurant, City Pharmacy. The restaurant bears the name of the pharmacy that was located in this building for many decades.

Project Details

Loan Recipient
City of Covington Downtown Development Authority

Sub-Recipient
City Concept Group Ltd. Co.

Project Cost
$1,621,776

GCF Loan Amount
$250,000

DD RLF Loan Amount, if any
$250,000

Project Use
Restaurant
After
Foundation Project Impacts
335 New Downtown Businesses
2196 New Jobs Downtown
$208 Million in Private Investments
8 Cultural Facilities
347 Downtown Housing Units
157 Hotel Units Downtown
1,600,000 Redevelopment Floor Area sf
229,000 New Construction sf