LOUISVILLE, Ky. (WDRB) -- Louisville is in need of more affordable housing, according to the city's mayor. 

"You name it, we need more housing in Louisville -- every type, at every price range, in every neighborhood, and that's what our administration is focused on doing," said Louisville Mayor Craig Greenberg on Wednesday.

Greenberg announced a goal last year for the city to create and preserve 15,000 affordable housing units by 2027. It's called the 'My Louisville Home' vision plan.

Greenberg said Wednesday that "affordable housing" is a term that means a lot of different things to a lot of different people. 

"What I believe it means is that no one in Louisville should have to pay more than 30% of their income toward their housing," he said. "Whether that's rent, whether that's a mortgage payment, including their utilities, what it costs to have a home."

While the cost of housing has increased in recent years, wages haven't kept up with that increase, according to Greenberg. He also said the city is working to make it easier to build houses in Louisville by working with metro council and state government.

"We have more work to do to help so that we have more affordable housing to address our homeless crisis, so hard-working Louisvillians have a place to live, and also support our economic growth," Greenberg said. 

The My Louisville Home plan, detailed in more than 30 pages on the city's website says, "... more than 40,000 Louisville households spend more than 50% of their income on rent and homeownership costs. As a result, many people do not have enough income remaining to adequately pay for food, healthcare or other basic needs, and some households have chosen to move farther away from employment centers to find more affordable housing options."

The Louisville Metro Housing Authority (LMHA) broke ground for the Iroquois Senior Living Community in July. It's located off Bicknell Avenue, near Taylor Boulevard. It's the site of the former Iroquois Homes, a low-income housing block that had about 850 units. Several years ago, those homes were demolished in phases. Now, there are plans to build homes on the property once again.

Geneva Bullitt lived at Iroquois Homes for years. She holds tight to fond memories from her time there.

"The friends, the mothers, we had mothers out there who looked out for kids like us," Bullitt said Wednesday. "They all became good friends and we became good friends as well."

AFFORDABLE HOUSING IN LOUISVILLE

Geneva Bullitt shows a photo in Louisville, Ky. on Sept. 4, 2024.

For Phase 1 of the new construction, a three-story building will be created for residents 55 and older. It's designed to support car-free living and is in walking distance of the South-Central Neighborhood Place and TARC bus access. According to Sherman Carter Barnhart Architects, the senior living complex will include 60 apartments.

Bullitt said the response for the new housing development has been overwhelming.

"Hearing the chatter of people, 'I want in, sign me up,'" Bullitt said. "I think it's something amazing that is taking place."

She said she's excited to see the city's push for housing that people can realistically afford. 

"Right now, a lot of people can't afford apartments," Bullitt said. "You find different ones living with their family members because it's too expensive out there."

The senior living complex is just the beginning of a larger project to bring more homes to the area. LMHA is working on plans for other potential phases to develop the full site into several acres with both affordable and market-rate housing for people of all ages.

LMHA said the senior living apartments would be income based affordable housing. It's just one example of the steps toward the city's goal of 15,000 units by 2027. Another is the now-open Hurstbourne Senior Apartments, where Greenberg made the announcement about the My Louisville Home plan last fall.  

Wednesday, Greenberg said the city is making good progress on creating new housing, but there's still more to do.

"Everybody seems to agree that we need more affordable housing, but there are some folks that don't want more housing in their neighborhood," he said. "With that mentality, we're never going to achieve this goal. We need more housing everywhere."

According to the city, since Jan. 2023, nearly 5,000 units of affordable housing have been completed or have started construction or renovations.

The goal of 15,000 units added across the city wouldn't be enough to erase the affordable housing shortage, but it would be a start.

Last year, the city estimated as many as 50,000 households lacked affordable housing, as a direct result of income.

"The median home price in Louisville has risen 48% since 2016 while the median income has only risen 29%," said Greenberg in Oct. 2023. 

Wednesday he said when aiming for 15,000 units, he wanted to set a goal that was both ambitious but also something people thought would be within reach.

"Let's push ourselves. Let's push ourselves to achieve what we haven't  achieved before. We will get there and then we'll be able to do it again and again because that's the type of investment into housing that our city needs," Greenberg said. 

Bullitt, who currently lives in Valley Station, looks forward to moving back closer to her childhood home. She has plans to return to the area where she was raised as more phases are built. 

"I love the area for one, it's a comfort zone," Bullitt said.  

Bullitt believes affordable housing gives people a chance to make a place their own.

"Once people have something they can love and cherish, they'll take good care of it. At an affordable price, no one wants to move. People want to stay right there because they can afford it."

The My Louisville Home plan has five key goals including providing incentives to create and preserve affordable housing, create long-term affordable homeownership opportunities, preserve existing affordable housing units, generate new revenue for affordable housing development and assist low and moderate income households in being able to buy homes. 

To read the My Louisville Home plan, click here.

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