Community leaders gather to celebrate opening of area’s newest affordable housing community
Completion of Jefferson’s Landing expands on efforts to connect residents to healthcare and educational resources
(Louisville, Kentucky)—Community and business leaders gathered with representatives from LDG Development to celebrate the completion of Jefferson’s Landing—a 240-unit affordable housing development in Okolona that is serving area residents who earn up to 70 percent of the area median income or up to $62,790 annually for a family of four. Construction plans for Jefferson’s Landing were fast tracked in 2021 after the overwhelming success of its “sister property,” Jefferson Green—a 312-unit development that serves residents earning up to 60 percent of the area median income, or $53,820 annually for a family of four.
“The overwhelming success of Jefferson Green and Jefferson’s Landing reflects what we at LDG see across the country and that is the demand for high-quality affordable housing continues to grow; and given the robust economic development activity and rising housing costs, we don’t see this trend ending soon,” said Chris Dischinger, co-founder of LDG Development. “LDG is committed to not only producing high-quality housing families are proud to call home but access to services and programs that can improve the outcomes for the entire family.”
Jefferson’s Landing offers spacious 1-,2- and 3-bedroom apartment homes that include several upgraded amenities. This includes large closets, faux wood flooring, on-site property management, a clubhouse that includes a business and fitness center, a large sparkling pool; and gathering areas.
In addition to the property amenities, Jefferson’s Landing residents can access a variety of educational and healthcare program services. This includes a mobile health clinic provided by Norton Healthcare that visits the campus twice a week and provides routine health services often provided in a physician’s office; onsite summer camps that are focused on boosting reading scores minimizing “summer loss” or the academic loss that occurs during summer months; free breakfast and lunch four days a week; and recreational leagues that are focused on exposing school aged children to various sports activities and promoting increased physical activity. Jefferson’s Landing campus is also the site for the recently announced Bezos Academy—a tuition free, year-round Montessori inspired preschool that serves families earning up to 400 percent of the federal poverty level and will open in January 2025.
Mayor Craig Greenberg says that the housing and programming found at Jefferson’s Landing and Jefferson Green sites, is a model that the city hopes to expand into other parts of the community.
“The services and activities, coupled with the high-quality housing provided at Jefferson’s Landing, will serve as a catalyst for improving outcomes for the entire neighborhood,” said Greenberg. “The investment that LDG has made in housing and programs will not only help to attract additional investments but also provides our community with a model on how you incorporate the onsite services and programming needed by many working families throughout our community.”
Total costs for Jefferson’s Landing were $52 million. Financing for the development was provided by R4 Capital, R4 Capital Funding, Kentucky Housing Corporation and gap financing provided by Louisville CARES. This includes $2 million provided by CVS Health.
Paige Mankovich, CEO of Aetna Better Health of Kentucky, a CVS Health company, said the investment is a local demonstration of the company’s ongoing efforts to addressing housing insecurities and other social determinants of health in historically marginalized and underserved communities.
“Access to secure, quality affordable housing is critical to overall physical and mental health,” said Mankovich. “With on-site medical care and childcare, Jefferson’s Landing is a truly innovative approach to creating a holistic housing community. As part of our company’s commitment to addressing social determinants of health, we look forward to contributing our collaboration to further support the residents’ success.”
Monthly rental rates for this development range between $673.00- $1,442.00. Jefferson’s Landing welcomed its first resident in May of 2022. As of June 1, Jefferson’s Landing is 78.1 percent leased and 71.3 percent occupied.