101 Promontory Dr, Covington, KY 41015
Waiting List Forecast: Likely Long or Closed
Verified for 2020 by Gene B. Glick Marketing, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Cambridge Square Apartments is an affordable housing community in Covington, Kentucky, offering one, two, and three bedroom apartments. This community is federally subsidized, with rents and eligibility determined by government regulations. We are located on Promontory Drive right off of Taylor Mill Road. Transportation around Covington is a breeze from Cambridge Square Apartments of Covington with two convenient stops on the TANK bus line in front of the community. We offer several community amenities including a community center, a play park, and community grill area. You will find well-maintained apartment homes, beautifully landscaped grounds and professional on-site leasing and maintenance service teams. The apartment homes feature complimentary water and trash collection, large living and dining spaces and a balcony or patio. This community is managed by the Gene B. Glick Company.
This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Cambridge Square Covington is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $21,250 / year | $24,300 / year | $27,350 / year | $30,350 / year | $35,140 / year | $40,280 / year | $45,420 / year | $50,560 / year |
| 50% AMI for LIHTC Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year | $54,600 / year | $58,650 / year | $62,700 / year | $66,750 / year |
| 50% AMI for PBRA Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year | $54,600 / year | $58,650 / year | $62,700 / year | $66,750 / year |
| 80% AMI for PBRA Units | $56,650 / year | $64,750 / year | $72,850 / year | $80,900 / year | $87,400 / year | $93,850 / year | $100,350 / year | $106,800 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Cambridge Square Covington have a waiting list?
Cambridge Square Covington probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Cambridge Square Covington?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Cambridge Square Covington?
Cambridge Square Covington is managed by Gene B. Glick Company, Inc headquartered in Indianapolis, IN.
In addition to Cambridge Square Covington, how many other affordable housing properties (and units) are there in Covington?
In addition to Cambridge Square Covington, we list 33 other affordable properties in Covington. Learn about these properties here. Our data research shows that there are a total of 1954 affordable units in Covington.
Housing options for seniors.
Many housing programs have apartments or entire properties restricted to senior residents only, including Section 202 Supportive Housing for the Elderly.Mili Rodriguez says:
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