Commission authorizes taxable bond financing for 342‑unit Christopher Apartments at Newport Steel site despite public concerns
May 18, 2026 | Newport, Campbell County, Kentucky
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The Newport Board of Commissioners on May 18 authorized issuance of taxable industrial building revenue bonds (not backed by the city's full faith and credit) to finance redevelopment of the former Newport Steel site as a residential project now proposed as Christopher Apartments.
Staff and the developer said the project scope shifted from a previously discussed mixed‑use plan to a 100% residential development, increasing units from 195 to 342 to take fuller advantage of the site. A city staff briefing said PLK Communities (through a special‑purpose entity, Christopher Apartments LLC) has advanced remediation, planning and design review approvals and expects financing to close in June. The project includes a closing‑time payment of $150,000 to fund a West End tree program.
During public comment, a resident opposed the residential plan, citing walkability concerns, the lack of a crosswalk on the adjacent through road and expected increases in vehicular traffic and demand for a traffic signal. The resident said the site’s original planned use was not residential and expressed continued opposition to the density proposed.
Why it matters: The authorization, capped at $100,000,000 as presented in the bond order, is intended to enable site cleanup and construction that city staff said will not add to the city’s general‑obligation debt. The project would add housing units in a region facing shortages but raised local concerns about traffic, safety and design.
Vote and outcome: The board approved the order on a roll‑call vote: Commissioners Sutherland and Radwanski voted yes, Vice Mayor Smith Morrow voted yes, Commissioner Rekton voted no, and Mayor Cadulli voted yes (tally: 4 yes, 1 no). The motion passed.
What was said: City staff described extensive remediation and planning work and the shift to a residential program "taking advantage of the entire site," and the developer representative said the project would move forward with construction once financing closes. A public commenter said the site has poor walkability and predicted traffic issues if developed residentially.
Next steps: Staff expects financing and closing work in June and will return with final bond and lease documents for closing and related approvals.
Staff and the developer said the project scope shifted from a previously discussed mixed‑use plan to a 100% residential development, increasing units from 195 to 342 to take fuller advantage of the site. A city staff briefing said PLK Communities (through a special‑purpose entity, Christopher Apartments LLC) has advanced remediation, planning and design review approvals and expects financing to close in June. The project includes a closing‑time payment of $150,000 to fund a West End tree program.
During public comment, a resident opposed the residential plan, citing walkability concerns, the lack of a crosswalk on the adjacent through road and expected increases in vehicular traffic and demand for a traffic signal. The resident said the site’s original planned use was not residential and expressed continued opposition to the density proposed.
Why it matters: The authorization, capped at $100,000,000 as presented in the bond order, is intended to enable site cleanup and construction that city staff said will not add to the city’s general‑obligation debt. The project would add housing units in a region facing shortages but raised local concerns about traffic, safety and design.
Vote and outcome: The board approved the order on a roll‑call vote: Commissioners Sutherland and Radwanski voted yes, Vice Mayor Smith Morrow voted yes, Commissioner Rekton voted no, and Mayor Cadulli voted yes (tally: 4 yes, 1 no). The motion passed.
What was said: City staff described extensive remediation and planning work and the shift to a residential program "taking advantage of the entire site," and the developer representative said the project would move forward with construction once financing closes. A public commenter said the site has poor walkability and predicted traffic issues if developed residentially.
Next steps: Staff expects financing and closing work in June and will return with final bond and lease documents for closing and related approvals.
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