Arlington Properties Inc., which has been one of the busiest out-of-town apartment developers in Northern Kentucky, started construction on a riverfront luxury apartment community.
Birmingham, Alabama-based Arlington is building Velo Riverside, a 265-unit apartment community at Manhattan Harbour in Dayton. The development is expected to be an investment of more than $50 million.
Williams Morris, vice president of development for Arlington Properties, said there is pent-up demand for apartments with ample amenities that are close to downtown Cincinnati.
“This location allows us to create a true, class A living experience with room for outdoor amenity space,” Morris told me. “People love being on the river, using the new riverwalk and levee.”
This marks Arlington’s second apartment development in Dayton and its fourth in Northern Kentucky. Arlington entered the Northern Kentucky market with Tapestry on the River, now known as Manhattan on the River Apartments, in 2018. Since then, it has developed Tapestry Turfway Park in Florence and Tapestry Ridge in Covington.
Velo Riverside will be built on about 11.5 acres south of the marina in Manhattan Harbour. It will have a mix of apartments, with 39% one-bedroom units, 46% two-bedroom units and 15% three-bedroom units. Monthly rent at Velo Riverside is expected to range between $1,500 and $2,400.
Morris said Velo Riverside will take what Arlington has developed in the past and enhance it. The community will have an indoor/outdoor sky deck on the corner of one building. It also will have two exterior pavilions for dining and cooking.
Other amenities planned for Velo Riverside include an expansive garden and pool, a clubhouse, dog park, cycling room, work area, and fitness and yoga rooms that open to the outside.
“It will be the premier outdoor amenity development in Northern Kentucky,” Morris said.
The community’s name, Velo, comes from the French word for bike. The developer wanted to highlight the community’s connection to the outdoors and the multiuse Riverwalk Commons, an 11.5-mile walking and biking trail that will connect Northern Kentucky’s river cities.
Source: Cincinnati Business Courier
