LOUISVILLE, Ky. (WDRB) — A new affordable housing development is now under construction in west Louisville on the Goodwill Opportunity Campus.
The development will include 76 apartment units, consisting of 28 one-bed and 48 two-bed apartments on 3 acres provided by Goodwill Kentucky. The near $20 million project is a result of a partnership between Goodwill Woda Cooper Companies.
Project and city leaders broke ground on the complex Friday near Goodwill Kentucky’s West Louisville Opportunity Center and Norton West Louisville Hospital, giving future residents access to health care, services and resources nearby.
Louisville Mayor Craig Greenberg said projects like Opportunity Village are part of a larger effort to expand affordable housing options across the city.
"Let's keep going," he said, alluding to 7,000+ new affordable housing units either developed or in development in his tenure. "Let's keep this excitement going. Let's keep working harder. Let's keep funding projects like this, and, together, we will build more safe, quality and affordable housing all across the entire city of Louisville."
The development will feature amenities including an outdoor terrace, dog park, playground, community rooms and a fitness center.
Goodwill Kentucky CFO Mark Hohmann said the need for affordable housing continues to grow among the people his organization serves.
"People we serve are just having a difficult time finding housing," he said.
The apartments will range in price from $695 a month to just over $1,300 a month. The units will be available to households earning between 50% and 80% of the area's median income, which is the federal standard used to determine affordable housing.
Hohmann said affordability depends on where someone is in their journey toward financial stability, calling that a "spectrum." He said the goal is to give residents a stable place to live while they work toward bigger financial goals, including eventually becoming homeowners.
"As they start to get stable, and they're sober and working and they get a job, then a better job ... that step up to $700 is doable, and then the step up to $1,000 is even more doable," he said. "We'd really love for them to save to buy a home."
The project is being funded through tax credits, private investors, grants from the Louisville Affordable Housing Trust Fund and loans that will be repaid through rental income.
At Opportunity Village, leaders believe the location is one of the project’s biggest benefits.
Norton West Hospital, Kroger, TARC transit and the Goodwill Opportunity Center are all within arms reach for future residents. Goodwill officials said that access makes a major difference.
"You've got primary care," Hohmann said. "Norton has a pharmacy. Norton has emergency services. So you've got that right here and you've got Goodwill and eight nonprofit partners."
Construction is now underway and could be finished by next year.
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