Mayor joins Louisville Affordable Housing Trust Fund & Metro Council members to announce recipients of American Rescue Plan funds
Mayor Greg Fischer, Metro Council members and Christie McCravy, Executive Director of the Louisville Affordable Housing Trust Fund, today announced seven projects to be funded by $40 million in American Rescue Plan (ARP) dollars – adding almost 300 affordable housing units specifically for households at or below 30% of area median income.
“That brings the total we have spent on affordable housing during my administration to $116 million, including more than $97 million to the Affordable Housing Trust Fund – a record number that is funding transformational work, saving and changing lives throughout our city,” the Mayor said.
McCravy said the projects being funded are:
· Volunteers of America/Beargrass Development: $950,000 to build the 80-unit Bland Street Apartments, an affordable housing project that will include 20 units designated for permanent supportive housing.
· Housing Partnership Inc: $4.8 million to convert a vacant warehouse at 1405 W. Broadway that is listed on the National Register of Historic Places into a mixed-use development providing 111 one-bedroom and five two-bedroom apartments for seniors, along with one floor of commercial and office space.
· LDG Development LLC: $4 million to build The Eclipse, a 280-unit apartment community serving working class families in the Russell neighborhood of west Louisville, including former Beecher Terrace residents.
· Louisville Metro Housing Authority: $11.8 million to build the 60-unit, three-story Iroquois Senior Living Community.
· New Life Directions Ministry: $4.4 million to build and operate 20 permanent supportive housing units for homeless single mothers and their children. River City Housing Inc. will be the project developer.
· REBOUND Inc.: $5.2 million to build Portshaw, a 38-unit affordable housing development on a vacant parcel in the Shawnee neighborhood.
· Wellspring Ky.: $8.2 million to purchase and rehab existing multi-family properties, and provide 50 new units of affordable housing along with supportive services.
The Mayor said most of those to be housed in the units being funded – more than 200 new units and 80-plus already under way – are “our neighbors with very low incomes, earning 30 percent of our area’s median income. They are single mothers with children, some of whom have suffered domestic violence; senior citizens, people experiencing chronic housing issues — a mix of all the affordable housing challenges we want to address.”
“The awards represent a range of developments that will address the most vulnerable in our community, regardless of circumstances and in spite of their journeys,” McCravy said. “Everyone deserves safe, decent, quality, affordable housing. This investment of $40 million will leverage more than $180 million in housing for so many in our community who may have given up hope.”
The projects represent just one part of the city’s four-prong strategy to end homelessness and provide diverse stable housing solutions for all of residents of the city. Other elements include a safe outdoor space, the Hope Village, providing housing and support services to people now living on the street; bridge housing, which is more permanent than the safe outdoor space, but a step from permanent housing; and permanent supportive housing, like the $32 million in ARP-funded projects that the Mayor announced on Sept. 28, 2022 – providing housing and support services for those with disabilities, and their families, who also are houseless.
The $40 million funding allocation was approved by Metro Council in Nov. 2021.
"As our housing crisis persists, this funding ensures the Affordable Housing Trust Fund program is able to create new affordable housing for residents in the community. Supporting and funding affordable housing initiatives is a no-brainer, and I will always be an advocate for this cause to ensure Metro budget dollars are applied to avoid houselessness," said Councilwoman Paula McCraney, District 7.
“When Metro Council asked the public to rank needs for expenditure of American Rescue Plan funds, housing was at the top of the list. Today’s announcement builds on the work we have been doing since 2015 and the regular appropriations to the trust fund in every budget since 2015. We have much more to do but we are making progress in seeing that every Louisvillian has a safe, decent and affordable place to live,” said Councilman Bill Hollander, District 9.
The Mayor thanked Metro Council for their partnership in allocating the city’s share of ARP dollars on priority areas of addressing homelessness/affordable housing, as well as public safety; workforce development/small business support; and healthy Louisville/healthy neighborhoods.
The Mayor also again thanked President Biden and Congress for recognizing the need to fund transformative projects in local communities following the historic disruptions caused by COVID-19. In all, Louisville Metro Government (LMG) was allocated $388 million in ARP Coronavirus Local Fiscal Recovery Funds, approved by Congress to meet the most urgent needs of communities across the country as they rebuild from the devastating impact of the pandemic.