- The property is still owned by the Benedictine Sisters of St. Walburg Monastery. Ashley has placed an undisclosed offer for the property contingent on obtaining all necessary permits and zoning changes. The Sisters selected this developer through an open Request for Proposal process. As the property is in private hands, the City did not review or select the proposed developer. The Sisters are wrapping up a four-year process to sell a portion of their land to fund the retirement of the remaining members of the religious community.
- The request for an amendment to the 2030 Kenton County Comprehensive Plan was preceded by a 13-month public process where over 400 people participated leaving more than 1,000 written comments. The 74-page final report along with supporting traffic and market studies are available on the city’s website. The current proposed Ashley development plan appears to substantially meet the guidelines of the amendments as approved by the Kenton County Planning Commission..
- Two traffic studies conducted by industry respected engineers came to the same conclusions: that Amsterdam Road is designed for 25,000 cars per day., Currently less than 6,000 use the road, and the additional traffic from this project, the radio station project, and the expansion of Madonna Manor will not add more than a couple of thousand cars per day. The traffic engineers recommended a stop sign at Niewahner, a roundabout at Amsterdam and Collins, retiming the light at Collins and Buttermilk, and adding green left turn arrow onto Buttermilk.
- The proposed Ashley plan is for 450+ residential units with the possibility of going to 493. The small area study authorized up to 750 units on the Sisters property. The plan envisions 190+ single family homes in the $500,000+ range, 35 townhomes in the $350,000 range, between 25 and 75 senior cottages (ranches) in the $250,000 to $350,000 range, one multi-story building with 187 luxury lofts/flats leasing from $1,200 to $1,600 per month. The plan also includes two commercial buildings on the central park that will have 1st floor retail, 2nd floor office space and about a half dozen third floor flats (each). The plan also has 20% open space with walking trails and an overlook open to the wider community.
- The developer proposes to level the site from back to front. This will mean that there will be an approximate 15 ft. drop from the corner lot at the back of Carpenters Trace to the luxury lofts’ parking lot. This parking lot will be more than 50 feet away from the rear property line of homes on Carpenter’s trace, roughly the same distance as the existing parking lot at Villa Madonna Academy. There will also be a substantial tree buffer provided by the existing tree stand. Glare from any lot lights is required to be directed away from neighboring properties (and will be below the ground level of Carpenters Trace due to the 15 foot elevation change).
- Fiscal analysis conducted by staff anticipate that the site will generate between $650,000 to $725,000 per year in new revenue. This represents about 20% of the current city budget. While some of those dollars will be needed to provide services to the new residents, the property is projected to have a net positive cash flow to the city for the next 30 years which was the length of the analysis.