Bristol Bluffs affordable housing complex to open soon
LOUISVILLE, Ky. (WDRB) – One of the biggest developments built with the help of affordable housing funding from Louisville Metro government is opening soon.
Bristol Bluffs, a 216-unit apartment complex off Billtown Road near the Snyder Freeway, will welcome its first residents at the end of the month, though construction will continue into early 2019.
The $35 million, nine-building complex was financed in part by a $4 million loan from Louisville CARES, Mayor Greg Fischer’s affordable housing program, and a $500,000 loan from the nonprofit Louisville Metro Affordable Housing Trust Fund.
“The city’s money into this is really a small portion of the total budget, however it is really significant in getting it over the top and making it work,” said Chris Dischinger, co-founder of LDG Development, a Louisville firm that specializes in affordable housing.
The two- and three-bedroom units rent from $850 to $1,200 a month, and they are reserved for people whose incomes are no more than 80 percent of the Louisville metro’s area median family income -- $71,500.
That means no more than $40,050 for a single person, $45,800 for two people and $57,200 for a family of four, according to guidelines published by the federal Department of Housing and Urban Development.
For leasing information: www.bristolbluffs.com or call 502-888-1200.
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