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
299 New Downtown Businesses
1728 New Jobs Downtown
$147 Million in Private Investments
8 Cultural Facilities
288 Downtown Housing Units
157 Hotel Units Downtown
1,352,805 Redevelopment Floor Area sf
200,267 New Construction sf