Friday, January 01, 1999
Site of Hill's may see new use
BY SUSAN VELA
The Cincinnati Enquirer
COVINGTON — Although the city has approved a $64,000 loan to help them buy the Hill Seed Co. parking lot, owners of Klingenberg's Hardware and Paints say it's too soon to talk about their plans for the entire property.
“It's something we would like to develop,” said John Humpert, who co-owns two Klingenberg's stores with his father, Harry Humpert. The loan “enables us to hopefully get control of that lot. But, before that happens, there's really no comment as far as we're concerned.”
On Wednesday, Covington city commissioners agreed to offer a $64,000 low-interest loan to help the Humperts acquire the parking lot at Seventh and Washington streets.
The city probably would've helped even more if the Humperts had asked for it, said Ella Brown-Frye, Covington's economic development director.
The Hill Seed Co. has been an anchor of the retail area at Pike and Seventh streets for many years. But the 135-year-old company closed the doors of its Pike Street store on Thursday afternoon, and city officials are concerned that any long-term vacancy could lead to others.
“It definitely would leave a retail hole in that block,” Mrs. Brown-Frye said. “Historically, Hill's always has been an icon or destination point for people interested in garden supplies or products. We think it'll be similar with the hardware component.”
The Humperts are in negotiations to buy the Hill Seed Co. building, 25 Pike St. They have said they've outgrown their 1230 Greenup St. store.
Mrs. Brown-Frye said they would like to relocate there and are spending $320,000 to acquire both the Hill Seed building and parking lot. The Hum perts have said they'll be able to buy the building without the city's help, Mrs. Brown-Frye said.
Agri Bio Tech of Henderson, Nev., bought Hill Seed Co. several months ago. The non-retail business will continue operation of Hill's warehouse and distribution center in Florence. But Agri Bio Tech previously announced it would close the Pike Street store.
Paperwork for the $64,000 low-in terest loan to the Humperts should be ready in about 60 days. The Humperts are supposed to pay back the debt over a 15-year period at a 6 percent interest rate.
Five years ago, the retail area at Seventh and Pike streets was dealing with a 30 percent vacancy rate. It is now going through a revitalization period.
The Humperts' other store is at 3916 Winston Ave., Latonia.
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