LDG Development denies proposed Prospect Cove complex would be 'low-income' housing
A co-owner of LDG Development wanted to address some of the city of Prospect’s concerns about the plans for a senior housing complex off Timber Ridge Drive.
LOUISVILLE, Ky. (WDRB) – Co-owner of LDG Development Chris Dischinger said there is a large need for affordable senior housing in the Louisville area, and the proposed Prospect Cove senior housing complex off Timber Ridge Drive is designed to meet some of that need.
"I think many of the people that will eventually live there will be from Prospect or will be parents of those who live in Prospect,” Dischinger said.
One of LDG’s senior apartment complexes is the new Jefferson Crossings in south Louisville. Dischinger said much of Prospect Cove would be similar in amenities and design to Jefferson Crossings, but the $30 million Prospect Cove project would have 136 more units.
"It is larger, but it is on a bigger piece of land,” Dischinger said. “It has some wooded areas, and it's really close to shopping."
Dischinger believes some who disapprove of the project are misinformed about it, adding that the complex would be restricted to people 55 years old or older. He said the only exception might be if someone was married to someone slightly younger.
Dischinger said many residents in the company’s other complexes live alone or have a visiting care taker.
Prospect Mayor John Evans expressed concern that the scale of the building was four stories and could house up to 750 residents. There are no buildings in Prospect larger than two-stories tall.
“There are 198 units,” Dischinger said about Prospect Cove. “So we’ll probably have more than 200 residents, but I don’t expect we’ll have 300 or more residents there. I don’t think a four-story building is massive in scale. It’ll be very nice and blend in.”
Dischinger made a distinction to say Prospect Cove should be considered affordable housing and not “low-income” housing.
"What you make from an income standpoint really doesn't reflect on the kind of person you are,” he said. "And I think there are some misconceptions, because maybe you don't have a full-time job anymore and as you're entering retirement that you're less of a person who is working full-time or makes a lot of money."
The apartments tend to be in the $750 range for rent, according to Dischinger. LDG provides lower rates because of an agreement it has.
“The rent is not subsidized,” he said. “We get tax credits. We’ll have an investor that will buy the tax credits. And for that, we agree to keep the rent at a lower level.”
For the project to move forward, the Metro Planning Commission still needs to make a recommendation on the rezoning request. There is a public meeting Tuesday night at Springdale Community Church before a final call about the rezoning proposal will be made by Metro Council.
Dischinger encouraged anyone who would like to learn more about what Prospect Cove could be like to take a tour of Jefferson Crossings. You would just need to call the complex at 502-434-3822 to schedule a visit.
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