Grand Towers

1359 Grand Ave, Newport, Kentucky 41071

Grand Towers is a high-rise apartment building designed specifically for senior living. A beautiful resident lounge on the 11th floor offers spectacular views of downtown Cincinnati, and bingo, cards, crafts, and movies are offered throughout the week in the Community Room. Multi-million dollar renovations and of the apartments, exterior and common areas makes Grand Towers perfect residence for the young at heart!

 

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Grand Towers Details

  • 198 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Public Housing

Property Amenities

  • Community Room
  • On-Site Maintenance
  • Laundry Facility

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

Newport HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Newport but actual income limits may differ for units at Grand Towers.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $17,950 $20,500 $23,050 $26,500 $31,040 $35,580 $40,120 $44,660
50% $29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
80% $47,850 $54,650 $61,500 $68,300 $73,800 $79,250 $84,700 $90,200

Newport Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Newport but actual income limits may differ for units at Grand Towers.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
Low Income (60%) $35,880 $41,040 $46,140 $51,240 $55,380 $59,460 $63,540 $67,680

Grand Towers is managed by Neighborhood Foundations.

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