COVINGTON, Ky. — The redevelopment of the massive former IRS site in the heart of Covington is entering a new stage. 

Jodi Funke, local real estate developer and founder of Funke Real Estate Group, is making history and leading the charge to transform a section of the old, 23-acre IRS property. She is the first Covington-based woman to partner with the city. 

Her portion of the project will focus on developing a one-acre section, referred to as "Block A," which will feature 10 single-family homes and two mixed-use buildings.

“I'm very excited that Covington chose me, a small local woman developer, to be a part of something that most cities, let alone developers, ever get to be a part of," Funke said. "With my involvement in Block A ... I'll be the start of an entirely new neighborhood.”

The city is reshaping Fourth Street as part of the redevelopment, and Funke's project will serve as a gateway into the new neighborhood.

“We have an opportunity," said Tom West, City of Covington economic development director. "We're reshaping Fourth Street, along with the Transportation Cabinet. And fronting on Fourth Street creates the front door into this new neighborhood. So it just made sense to start in that area as we start building the infrastructure between Fourth Street and the river.”

Funke said the city's vision matched hers. There will be 10 single-family detached homes. 

"Each one will be a little different ... and the plan is to have some of them with front porches," Funke said. "All of them will have rooftop decks, two-car garages.”

Funke and her partners will purchase the land along Fourth Street for $1.44 million, paying half now and the rest upon completion of the development. She said she's ecstatic to get started.

"I can't wait for May to get here," she said. 

The Covington Central Riverfront Project is a yearslong, multi-phase plan to redevelop the old IRS property into a modern mixed-use neighborhood with offices, housing, shops, a public plaza and parks.