Two new affordable, for-sale homes mark first step in transforming Eastside block and expanding homeownership opportunities for Covington families
COVINGTON, Ky – The City of Covington and Neighborhood Investment Partners (NIP) are celebrating a major milestone in the City’s efforts to expand homeownership opportunities with the delivery of the first phase of a new workforce housing development on Pleasant Street in Covington’s Eastside neighborhood.
The first phase of the project includes two newly constructed 1,560 square foot, three-bedroom, three-bathroom homes at 304 and 308 Pleasant Street. Each home is expected to be sold in the $250,000 to $260,000 price range to income-qualified households earning no more than 80 percent of the Area Median Income (AMI), as defined by the U.S. Department of Housing and Urban Development (HUD).
The development represents a partnership between the City and NIP, the City’s nonprofit development partner. The City assembled land for the project by contributing three City-owned parcels to NIP, which consolidated the lots and designed the site to accommodate two homes and a shared driveway. The City is also providing financing and construction subsidies through the federally funded HOME Investment Partnerships Program (HOME), helping ensure the homes remain affordable for eligible buyers.
“This project is exactly the type of investment we need to create more pathways to homeownership for working families,” Mayor Ron Washington said. “Expanding access to quality, affordable housing is one of the top priorities of my administration. These homes represent opportunities for families to put down roots and invest in Covington’s future.”
The Pleasant Street development is the first of three planned phases that will transform the 300 block of Pleasant Street over the next year. In total, the project is expected to bring 15 new homes to the Eastside neighborhood.
Phase two, scheduled to begin later this year, will add five additional homes on the northern side of the block. Planning for phase three, which will develop the remaining vacant lots on the southern side of the block, is expected to begin this fall, with construction anticipated to start in spring 2027.
The project has been spearheaded by Brandon Holmes, the City’s Neighborhood Services Director and chairman of NIP, who has led development efforts on behalf of both organizations.
“The vision for Pleasant Street has always been to create quality homes that working families can afford while strengthening an established neighborhood,” Holmes said. “By leveraging City-owned property, federal housing resources, and innovative construction methods, we're demonstrating that workforce housing can be both attractive and attainable. This project serves as a model for future housing development throughout Covington and beyond.”
To construct the homes efficiently and cost-effectively, NIP selected modular construction. The homes, which were manufactured by Unibilt Industries in a state-of-the-art production facility, will be delivered on Wednesday, August 5, 2026, and set on their permanent foundations on Thursday, August 6, and Friday, August 7.
Prior to installation, the City will utilize a portion of the Covington Central Riverfront site as a temporary staging area for the homes before they are prepared for final transport to Pleasant Street, where they will be installed by crane onto their foundations.
Modular homes are prefabricated in sections within a controlled factory environment and then transported to the construction site for final assembly. Unlike manufactured homes, modular homes are built to the same building codes as traditional site-built homes. Once completed, they are virtually indistinguishable from conventional “stick-built” homes and offer the same durability and quality.
Following delivery, NIP will complete the remaining on-site construction activities, including utility connections, installation of mechanical systems, interior finishing work, construction of porches, and final site improvements such as driveways, walkways, and landscaping.
Prospective buyers may be eligible for assistance through the Northern Kentucky HOME Consortium Homebuyer Assistance Program, which is designed to increase homeownership opportunities in the consortium communities. Eligible households that meet income, credit, and other program requirements may receive zero-interest, deferred and forgivable loans to help cover costs. The assistance is forgiven on a prorated basis over 10 years, with one-tenth of the loan forgiven for each year the homeowner occupies the property as their primary residence.
Interested homebuyer assistance applicants can learn more and apply online here.
Additional information about the Pleasant Street homes will be announced as construction nears completion.