Capital Investment Group Inc., the group that built the SouthShore condominium tower, started work on June 21 on a $15.6 million apartment building in Newport, Northern Kentucky. Officials from the city of Newport, including Newport Mayor Jerry Peluso, and representatives of Capital Investment Group attended the groundbreaking ceremony, held at 400 Riverboat Row, in the parking lot of SouthShore Condominium.
The building will be called Vue 180 and is the second phase of the SouthShore development. It is also the first luxury apartment complex to be built in Northern Kentucky since the economic downturn in 2007. The project will bring 93 high-end rental apartments along the Ohio River, immediately west of the SouthShore Condominium high-rise.
A parking garage will occupy the first floor of the five-story building. The other four floors will be filled with one- and two-bedroom apartments, ranging in size from 630 to 1,200 square feet. Rents will be between $850 and $1,350 per month.
By far the building’s strong point is its location. Vue 180 is located within minutes of Newport on the Levee, downtown Cincinnati, and all major interstates. It offers great views of the Ohio River and Cincinnati skyline. The apartments will also offer tenants such upscale finishes as hardwood floors, granite countertops, stainless steel appliances, brushed nickel fixtures, Energy Star front-loaded washers and dryers, and patios or balconies. Vue 180 will include a club room with full kitchen, an outdoor deck with grill and fireplace, and a fitness facility.
Capital Investment Group Inc.( CIG) was established in 1984. The company has offices in Cincinnati and Chevy Chase, Md. It acquires, develops and redevelops residential and commercial properties. The Vue 180 project will help CIG take advantage of the growing demand for rentals in the Cincinnati region. CIG expects to finish the project in 12 to 15 months.
Rendering courtesy of http://www.vue180.com.