LOUISVILLE, Ky. (WDRB) — Louisville officials unveiled Wednesday the final of seven affordable housing projects funded in 2022 by $40 million in American Rescue Plan funds.

The Iroquois Senior Living Community was recently completed off Bicknell Avenue, just south of Interstate 264. Mayor Craig Greenberg was joined at Wednesday's event by representatives from Louisville Affordable Housing Trust Fund and former Kentucky U.S. Congressman John Yarmuth.

"I hope this is reassuring to some people that government can be effective in improving the community and the country," Yarmuth said.

In 2022, Metro Government allocated the $40 million out of federal COVID-19 relief money for seven projects to address shortage's in Louisville's affordable housing supply. At the time, these were the seven project planned:

  • 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.

Those plans became development of Monarch Station, Gateway, The Eclipse, Iroquois Senior Living Community, Single Moms' Supportive Housing, Portshaw Apartments and Wellspring Forward.

Affordable Housing Projects

In 2022, Metro Government allocated the $40 million out of federal COVID-19 relief money for seven projects to address shortage's in Louisville's affordable housing supply. 

"The goal was to provide units for the most vulnerable in our community," said Christie McCravy, executive director of the Louisville Affordable Housing Trust Fund.

McCravy said when the fund was created, they sought to create housing for people with incomes at or below 30% of the American median income.

"At that time, it may have been a family of four making $35,000," she said.

Since 2022, 644 total units have been built, serving low-income families, seniors, people struggling with mental health and those experiencing homelessness.

"The average rent in Louisville for a two-bedroom apartment well exceeds $1,200 to $1,500. That's average," McCravy said. "And if someone has a gross income of $39,000 a year, that's unattainable. That's unsustainable."

Greenberg's latest budget proposal — which still needs approval from Metro Council — called for new investment into city housing projects:

  • $20+ million to help more people and families find affordable housing through support of the Affordable Housing Trust Fund, down payment assistance, existing property repair and renovation, small developer projects, and more
  • $1.5 million to tear down Dosker Manor and make way for new affordable housing
  • $500,000 to support the Home for Good initiative to create more permanent supportive housing for individuals experiencing chronic homelessness

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