SparkHaus will become Cincinnati’s third innovation district
After more than a year of planning, renovations have started with a completion date in mid-2025.
Cincy Inno reports that the Greater Cincinnati region is set to usher in a third innovation district when SparkHaus in Covington opens next year. The more than $16 million project will transform a vacant retail storefront on Madison Avenue into an entrepreneurship hub – a place where venture capitalists and start-up founders alike can better plant roots.
We have previously reported on the initiative in this February 2024 teknovation.biz article. Now, with renovations on the space having begun, we can provide an update. One thing that has escalated is the renovation costs. Earlier this year, estimates were $9 to $10 million. That is now pegged at $16 million.
In May 2023, with funding from the Kenton County site development fund, the NKY Port purchased the former Sims Furniture building in Covington for redevelopment into Northern Kentucky’s entrepreneurial hub. In April 2024, SparkHaus received an additional $6 million in state funding through Kentucky House Bill 1 to support the project’s build-out. Individual investors and private foundations have also provided funding for the building’s transformation which kicked off on September 16 and should be completed in mid-2025.
The planners of SparkHaus studied facilities like Tampa’s Embarc Collective and 36 Degrees North in Tulsa. As a result, there will be 31 private offices – with room for teams of two to 12 – more than 170 individual desks, and multiple shared meeting spaces.
Upstairs, an executive boardroom, dubbed the Covington Industrial Club, will be intentionally designed to be the “best boardroom” for venture firms to host board meetings. The lower level will feature a media room for hybrid presentations. And a cafe will be open to the public.
The partners produced a YouTube video that can be found here.
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