Clifton Hills Apartments
SiTE
Newport, KY
February 2012
TOTAL PROJECT COST
$4 Million
IMPACT
32 rent-subsidized units for the elderly
We collaborated with public and private partners to develop new housing for the elderly.
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Neighborhood Foundations, Inc., the development arm of the Housing Authority of Newport, approached us to help fund a $4 million project for the development of 32 new units for senior citizens. We worked with Steve Percy Real Estate Consultants (SPREC) to successfully apply for $449,662 in annual Low-Income Housing Tax Credits, generating $3.87M of investor equity. The completed units are rent-subsidized for affordability.