Region’s third innovation district will join the Greater Cincinnati area when SparkHaus opens next year in Covington. The over-$16-million venture turns a vacant retail space on Madison Avenue into an entrepreneurship hub for both venture capitalists and startup founders.
Construction kickoff held recently Project leaders have met to celebrate a construction kickoff. Work officially commenced on September 30, and the facility is slated to open for summer 2025. The more that is learned about the project, the more that is known.
It’s huge, and frankly speaking, Kenton County’s is a huge need in this region, Kenton County Judge/Executive Kris Knochelmann said that they are very excited about the prospects of making it happen.” Dave Knox, executive director of Blue North, a local entrepreneurship support group teaming with Kenton County, said that the feelings of excitement are mutual. Blue North is one of the tenants that have signed up for space in the building formerly occupied by Sims Furniture and Montgomery Ward.
Knox pointed to the pain points of local entrepreneurs, many of whom meet today in informal spaces like the lobby at Hotel Covington. A dedicated space is required here. The businesses looking to attract investments from companies like Keyhorse or even to avail the Kentucky angel tax credits, they need to set their base here. Just having a home address doesn’t get you into a realm conducive to job growth or scaling any sort of startup.”
Knochelmann described SparkHaus as the culmination of years of effort, adding that the former Sims Furniture building came on the market after its departure in early 2022. In 2023, the Kenton County Fiscal Court approved up to $3 million in site development funds to buy the property via the Northern Kentucky Port Authority.
The space has great potential, according to Knochelmann. He stated saying that this wide open space right in the heart of Covington is a definite catalyst for business growth.
SparkHaus will be a complement to the two existing innovation hubs across the Ohio River: Union Hall in Over-the-Rhine and the 1819 Innovation Hub Uptown, according to Knox. She and the other developers drew inspiration from such spaces, but also looked at some successful models like Tampa’s Embarc Collective and 36 Degrees North in Tulsa.
He mentioned that they wanted to know more about people or firms who have built similar spaces after the COVID pandemic.
“Local demand outstrips supply, especially for private offices – they have a waiting list usually,” he added.
Located in Denver’s Larimer Square, the 49,000-square-foot SparkHaus will include 31 private offices that seat two to 12 people, more than 170 individual desks, and various shared meeting spaces. In response to the shift toward remote and hybrid work, its memberships will be flexible, so it can have more members than desks-a two-desk office might support four memberships.
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