NEWPORT, Ky. — Residents of the Newport apartments formerly known as Victoria Square found out last summer that a developer had purchased the buildings and would be renovating.
That meant residents would have to leave.
Rents at the time cost between $650 and $710 a month.
A year later, the buildings have a new paint job and a new name: Cadence of Newport.
But that’s not all that’s changed. Rents at Cadence, located at 516 Central Ave., range from $1,395 per month for a one-bedroom, one-bathroom 625 square foot unit to $1,900 for a two-bedroom, two-bathroom 1,066 square foot unit.
The first set of units became available this week.
The apartments were purchased last year for $26.68 million by Cincinnati-based Sunset Property Solutions.
Four different floor plans are available at Cadence, two of which became available Wednesday. The other two will be available on June 16.
The former Victoria Square website promoted the property as “an affordable place to live.” Residents at the time said they also considered it affordable because they had a lower rent than other units in the area. Victoria Square also accepted low-income housing vouchers.
Many residents in the Victoria Square Apartments used the vouchers, also known as Section 8, which help low-income families, the elderly, and people with disabilities afford housing in the private market.
When the property was sold to the new development company last summer, residents grew concerned about their rent increasing due to the company specializing in “high-end remodeled apartments.” The week after residents were alerted of new ownership, they received notices to vacate and construction notices warning them that they had to move out so the new owners could renovate the property.
One of those residents was Morgan Mullins, who lived in the Victoria Square apartments for over three years. When she received the notice to vacate, she was paying $710 for a two-bedroom, one-bathroom unit. The Cadence of Newport is pricing the renovated two-bedroom, one-bathroom units at $1,495 and $1,595 per month based on size.
Apartment amenities, according to the Cadence of Newport website, include:
- Gourmet kitchens with quartz countertops
- Stainless steel Samsung appliances
- Gas ranges
- Contemporary lighting
- Designer backsplashes
- Brass pulldown kitchen faucets
- Soft-close cabinetry
- Porcelain tile bath and shower surrounds
- Matte black plumbing fixtures
- Quartz vanity tops
- Electronic keypad door locks
- Programmable thermostats
- Pre-wired with Alta-Fiber
Mullins and her family had to vacate their apartment last August. She said after receiving the notice, she expected the rent to increase.
“Unfortunately, that’s exactly what I expected to happen, although I think it is ridiculous,” Mullins said. “They did paint them, in my opinion, not well. Definitely not deserving of that price whatsoever. It’s very sad to hear the results of our lives being turned upside down.”
Since then, her family has moved out of Newport and now lives in a townhome in Cold Spring, where she said their rent is more than twice what they paid at Victoria Square.
“It’s tough even with our income being much more than it was at the time,” Mullins said. “I was a stay-at-home mom when we left Victoria Square.”
LINK nky reached out to SPS Properties for more information on upgrades that have occurred, and whether the apartments are still available to those using Section 8 vouchers, but has yet to hear back.
LINK nky is a media partner of WCPO.com.
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