COVINGTON, Ky. — New life could be coming to a massive property in Covington.
Right now, a boarded up, red brick building spans the block at the corner of 12th Street and Madison Avenue occupied by the former Duro Bag manufacturing site.
Now, the City of Covington has partnered with several other organizations to acquire the property, which the city called "a highly visible and historically significant facility."
The former manufacturing facility was founded by David Shor in 1953. At the height of its operation, it was the world's largest paper bag manufacturer with more than 2,500 employees.
The business was bought out in 2014 and slowly ceased operations at the site.
Covington city officials said the landmark property sits at a critical intersection that will "unlock the next stage of the city's revitalization."
A press release from the city says the property was purchased with future funding and support from the Catalytic Fund of Northern Kentucky, the city itself, Kenton County and the Northern Kentucky Port Authority. BE NKY Growth Partnership has also invested in the project, the city said.
Leaders have not said how much investment it took to acquire the property, and they have not yet announced any future plans for the site. Covington officials plan to formally announce the acquisition of the building during a 10 a.m. press conference Tuesday morning.
There is no word yet on whether the building itself holds any value for the future development or if it will be demolished to make way for new construction on the property.
