There will soon be 71 brand new affordable housing units available in the Meadowthorpe area for Lexington’s seniors.
Mayor Jim Gray joined 2ndDistrict Councilmember Joe Smith, LFUCG Affordable Housing Manager Rick McQuady and AU Associates President Holly Wiedemann broke ground on Meadowthorpe Landing, a new affordable housing apartment building on Antique Drive.
“We want to make sure our citizens have access to quality, affordable housing,” Gray said. “Thanks to private investment, assistance from KHC, and our city’s Affordable Housing Trust Fund, Lexington seniors in need of affordable housing will have these beautiful new apartments with incredible amenities to choose from.”
“This Development by AU Associates, Inc. is a positive step toward affordable housing for seniors,” Smith said. “Cooperation with partners like Cahec, Riverhills Bank, the City of Lexington Affordable Housing Fund and the Kentucky Housing Corporation make the future bright.”
“We are thrilled to begin construction on Meadowthorpe Landing, an affordable elderly housing development,” Wiedemann said. “It will join AU’s 28 other developments and be the sixth one in Lexington. This project is the epitome of urban infill, and will create 71 beautiful apartments in the historic Meadowthorpe neighborhood, close to shopping, transportation, and services.
“The site will include walking trails and raised community gardens. A project like this can’t happen without the support of the city, through its Affordable Housing Trust Fund, Kentucky Housing Corporation, our investors at CAHEC, and RiverHills Bank.”
The Lexington Affordable Housing Program was created in 2014 to help create affordable housing for households at or below 80 percent of area median income.
Since 2012, the city has invested $12.2 million in Affordable Housing Trust Fund dollars with $112 million in investment by private developers.
Over 1,400 affordable housing units have been created or preserved in Lexington since the fund was created in 2012.
A $687,666 pre-development loan through the Affordable Housing Trust Fund was made to AU Associates to develop and build Meadowthorpe Landing.