WDRB: City of Louisville invests $22 million in new affordable housing projects

WDRB

LOUISVILLE, Ky. (WDRB) -- The city of Louisville will give $22 million to investors building affordable housing complexes around the city. That's money Mayor Craig Greenberg's office said will help create more than 700 new housing units, at least 272 of which will qualify as affordable housing.

Here are the six projects receiving funding from the $22 million:

The Prestonian, a 345-unit mixed-income housing project from LDG Development at the corner of South Gray and East Clay streets near Louisville's Phoenix Hill neighborhood, received $10 million to create 145 affordable housing apartments within the development.

Beecher IV LLC was awarded $1 million, which will fund the creation of seven units within its 210-unit Phase IV redevelopment.

Habitat for Humanity received $273,020 to construct four single-family homes.

River City Housing was awarded $1,789,583 to renovate nine existing affordable single-family homes and construct five new ones.

Family Scholar House was awarded $7 million to construct a 60-unit multi-family housing project called the Family Scholar House Medical Center Campus.

Wellspring and Woda Cooper Companies received $2,187,697 to fund the creation of 42 affordable units as part of its 90-unit Bridlewood Crossing development.

"During my campaign, I set the goal of creating 15,000 units of affordable housing across our city, and now as Mayor, my administration is taking action to make that happen," Greenberg said in a news release Friday. "Everyone has the right to safe and stable housing, and by growing our affordable housing stock, we are giving residents a choice in how and where they live."

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