Company buys more properties in Cardinal Valley neighborhood

Says it plans to make investments, upgrades

October 27, 2021

Steve Rogers,

LEXINGTON, Ky. (WTVQ) – Vision & Beyond Capital Investments has acquired the 146-unit Creekside North Apartments at 2223 Devonport Drive in Lexington, marking the fourth property totaling 420 units the company has purchased in the neighborhood.

With this latest closing, Vision & Beyond’s principals say they expect to invest more than $30 million on property acquisitions and related improvements in Cardinal Valley.

Earlier this year, Vision & Beyond acquired Ashland Apartments at 1329 Devonport Drive, Cambridge Park Apartments at 2045 Cambridge Drive, and the Cambridge Homes multifamily development at 1980 – 2016 Cambridge Drive.

All properties will continue to serve a workforce housing population including middle income, young professional, and student tenants. No tenants will be displaced while renovations are underway, the company said.

“Workforce housing tenants are feeling the effects of the housing shortage, and yet this kind of housing has been forgotten and left behind by a lot of developers,” said managing principal Stas Grinberg, “Our team is committed to improving these developments and ensuring that they are around to serve a vital part of Lexington’s community for generations to come.”

Improvements at Creekside North Apartments will mirror improvement plans for the other developments.

Vision & Beyond plans to make comprehensive improvements to all properties including foundation repair and renovations to HVAC, electric, and plumbing. The properties are currently occupied and will remain so throughout the process. Vision & Beyond’s construction team will also make updates to amenities in units as they become vacant through attrition.

Vision & Beyond was founded in 2018 in Cincinnati, Ohio. The firm owns and manages 2,000 multifamily residential units in Cincinnati, Columbus, and Dayton, Ohio and Lexington, Kentucky. Its holdings represent a total investment of more than $200 million in acquisitions and property improvements.