Louisville Affordable Housing Trust Fund allocates FY18 funds
The Louisville Affordable Housing Trust Fund (LAHTF) has announced the allocation of FY18 funds. LAHTF allocated about $8.76 million to 22 different projects which will assist in the creation or preservation of 1,115 units to projects in 8 Metro Council Districts.
Because of Trust Fund dollars, 775 of these units will be updated and upgraded while maintaining their affordability. 340 of the units will be brand new, through new construction or renovation of a vacant property.
The allocation was celebrated at the ground breaking of Middletown Apartments, a project that was allocated FY18 funds, as well as funds from Louisville CARES. The Apartments will consist of 80 one, two and three bedroom units on Urton Lane.
“An increase of affordable housing units, scattered across our community, is essential for our residents to reach their full human potential,” Mayor Greg Fischer said. “When families are cost-burdened by their rent, they have to give up other things like time with children, food or other essentials. The allocation by LAHTF will open housing opportunities for people who need them while simultaneously attacking other problems in our community like vacant properties.”
“Fully funding the Trust Fund is the only way we can begin to move the needle on the affordable housing shortage,” LAHTF Executive Director Christie McCravy said. “Projects and jobs are created, residents have choice…it’s a win for the entire community.”
LAHTF FY18 funds have been allocated as such:
- $175,000 to Winterwood Property Management for the renovation and rehab of the 27 unit Rivertown Apartments complex in District 6
- $1.74 million to LDG for the new construction of 158 units of a 316 unit multifamily apartment development in District 24
- $1 million to Housing Partnership Inc. (HPI) for the rehab of the 89 units at York Towers in District 4
- $450,000 to Habitat for Humanity of Metro Louisville for the new construction of 15 single family homes on vacant properties in Districts 1, 4, 5, and 16
- $350,000 to New Directions Housing Corporation and River City Housing for the renovation and rehab of 7 vacant single family homes in District 4
- $1 million to HPI and Urban Acupuncture for the new construction of a 24 unit multifamily development designed to house refugee families on a vacant property in District 5
- $30,000 to HPI for Operation Victory, a collaboration between HPI and local unions to build a home on a vacant property for the purposes of housing a homeless veteran
- $566,000 to Dayspring Community Living for the new construction of 3 single family homes on vacant properties in Districts 6 and 15, creating 9 single room occupancy housing units for the disabled
- $58,000 to House of Ruth and River City Housing for the new construction of a duplex on a vacant property in District 4
- $225,000 to HPI for the renovation and rehab of 11 vacant single family homes in District 4, 5 and 6
- $500,000 to Allied Argenta for the renovation and rehab of 125 units of the Henry Greene Apartments in District 4
- $1 million to Telesis Corp. for the renovation and rehab of 503 units at City View Park in District 4
- $250,000 to HPI for the new construction of the 80 unit Middletown Apartments in District 19
- $266,000 to Wabuck Co. for the renovation and rehab of the 16 unit Lions Arms I complex in District 1
- $200,000 to AME Church and Allied Argenta for the renovation and rehab of the 15 units Greater Community Apartments in District 5
- $300,000 to REBOUND, Inc. for the purchase and rehab of 4 vacant properties in District 4
- $189,000 to APK Development for the purchase and rehab of 5 vacant single family homes in Districts 1 and 5
- $330,000 to DF Property Holdings, LLC for the rehab of 11 vacant single family homes in Districts 4,5,6, and 15
- $100,000 to Blackrock, LLC for the rehab of 12 units of a vacant multifamily complex in District 4
- $34,000 to Yvonne and Crystal McAfee for the rehab of one vacant single family home in District 4
Additional funds were allocated to Homes of the Innocents ($10,000), HPI ($3,500) and Louisville Urban League ($15,000) for supportive housing services.
For more information on the Louisville Affordable Housing Trust Fund, please visit https://louisvilleky.gov/government/housing-community-development/louisv...