Covington KY. (April 9, 2026) – The Northern Kentucky Port Authority, along with its partners Kenton County, the City of Covington and The Catalytic Fund, closed on the $4.5 million purchase of a nearly-eight-acre site at the corner of Madison Avenue and Martin Luther King Jr. Boulevard in Covington.
This site, formerly the home of the Chesapeake & Ohio Railroad and Duro Bag Manufacturing, features a more-than-200,000-square-foot industrial building and the historic C&O Railroad roundhouse.
The NKY Port Authority and its partners will now begin the process of stabilizing the property in preparation for future privately led development. Outreach to potential developer partners has begun and the City of Covington is planning to engage neighboring residents through a community engagement session.
“The NKY Port is grateful for the collaboration and partnership of the City of Covington, Kenton County and The Catalytic Fund, which make the acquisition of this property possible,” said NKY Port Executive Director Christine Russell. “The NKY Port has brought two impactful, landmark buildings – the OneNKY Center and SparkHaus – to Northern Kentucky, and I am excited to keep this positive momentum going as we continue to build transformational projects in Northern Kentucky.”
The NKY Port Authority had previously entered into a purchase agreement for the site from Charles Shor, former CEO of Duro Bag.
“I’m proud to close this transaction with the Northern Kentucky Port Authority, the City of Covington, and Kenton County, and I’m sincerely grateful for their partnership, and that of the Catalytic Fund, throughout this process,” said Shor. “This property meant a great deal to my father and to me, and it also carries deep meaning for the many Covington residents who worked at Duro. It is important to me that this next chapter both honors that legacy and creates meaningful value for the people of this great city. I also want to thank my team — Gerry Otto, Jeff Cahill, and Sergio Pascual — for their hard work and dedication in bringing this transaction to the finish line. As I look to the future, I am committed to seeing that the proceeds from this sale are reinvested directly into the community through robust technical education programs that help empower the next generation of workers to enter and strengthen the American middle class.”
The acquisition of this property is a first step in spurring revitalization and development south of 12th street in Covington. Covington Mayor Ron Washington is eager to see the next stage of the city’s revitalization.
“Finalizing the sale of the former Duro Bag site and the C&O Roundhouse clears the way for something transformative that will bring new energy and investment to our neighborhoods south of 12th Street,” said Washington. “We’ve long recognized the potential of this area, and now we’re taking a major step toward realizing it. I’m eager to see what comes next, and confident this project will create lasting benefits for our residents and our entire city.”
Kenton County Judge/Executive Kris Knochelmann said this project is a testament to the power of patience and partnership.
“By committing to a shared vision, we now can create a new marquee space for our entire community, catalyzing new investment, job creation and long-term opportunity,” said Knochelmann. “This effort shows how strong collaboration today will help fuel Northern Kentucky’s growth well into the future.”
Jeanne Schroer, President and CEO of the Catalytic Fund said, “We are grateful for our partnership with the owners of the Duro Bag site, the City of Covington, Kenton County, and the NKY Port Authority. This is an excellent example of how private/public collaboration and cooperation among various governmental entities can lead to major community and economic development advances not possible by any one entity alone.”
In 2022, as part of its Build + Elevate NKY Investor Campaign, BE NKY Growth Partnership chose “activating the NKY Port Authority” as one of its four initiatives for continued economic prosperity in the region.
Since that time, the NKY Port Authority celebrated the grand openings of two signature buildings: the OneNKY Center and SparkHaus. The OneNKY Center is home to 9 Northern Kentucky growth organizations and a lab run by LifeSciKY. SparkHaus is operated by Blue North and is Northern Kentucky’s new home for entrepreneurs, giving them access to capital, business mentors, and space to build out their ideas.
About the Northern Kentucky Port Authority
The Northern Kentucky Port Authority (NKY Port) was jointly formed as an economic development organization by Boone, Campbell, and Kenton counties in 1968 under the provisions of KRS 65.510 to 65.650. The NKY Port is a managed entity of BE NKY Growth Partnership and it was activated in 2022 as a real estate and development tool as a key initiative of the Build + Elevate Northern Kentucky investor campaign.
