LDG and Mayor Fischer join to break ground on city’s newest affordable housing community for families
(Louisville, KY – December 12, 2018) – Mayor Greg Fischer, representatives from the U.S. Department of Housing and Urban Development (HUD) and other business officials joined LDG Development to break ground on phase I of Jefferson Green—a multifamily development that will provide 312 units of quality housing for families earning 60 percent or less of the area median income, or $42,900 annually for a family of four.
Conveniently located off of Jefferson Boulevard, directly behind the new state-of-the art South Central Library and other amenities, services and businesses that continue to expand into the area, this development will offer 1, 2 and 3-bedroom garden style apartment homes for families in the area.
“Jefferson Green is terrific location for families in Louisville who want to live in close proximity to public transportation, great schools, the South Central Regional Library, major employment centers and the many other resources available around this development,” said Fischer. “These units add to our city’s affordable housing options and give more families an opportunity for financial stability. I’d like to thank LDG for their continued investment in our community.”
Situated on a 20-acre site that overlooks a nature preserve, Jefferson Green will provide residents a variety of amenities including a playground, a clubhouse, business and fitness centers, a pool and picnic areas. Units will range between 850-1.185 square feet and monthly rental rates will range between $594-$995.
Financing for this $56 million community is being provided through a variety of entities including HUD, US Bank, the Kentucky Housing Corporation and the Louisville Affordable Housing Trust Fund, an organization created by Metro Louisville to help address the affordable housing shortage for working families, seniors and individuals with disabilities.
Christie McCravy, executive director of LAHTF, says Jefferson Green is one of the organization’s largest investments and will provide quality housing for families that often struggle to find a place that meets their housing needs.
“Finding affordable housing is a challenge many individuals face, but those with a disability or other needs can have an especially difficult time,” said McCravy. “Jefferson Green
is one of several investments we’ve made throughout our community to address this shortage and ensure more Louisvillians have access to quality housing that improves their overall quality of life.”
Jefferson Green will be Louisville-based LDG Development’s 15th community in Kentucky. Founded more than two decades ago, the company is the country’s largest developer of affordable housing with over 40 properties in eight states including Tennessee, Louisiana, Texas and Georgia. The addition of Jefferson Green to LDG’s growing portfolio helped the company achieve a milestone of providing more than 10,000 units of affordable housing for working families and seniors across the county earlier this year.
As part of the LDG’s commitment to initiatives that help to stabilize and support working families, in October, through a partnership with National Association of Housing Redevelopment Officials, LDG announced that it has established the LDG Scholars program and, as part of this effort, has committed $1 million, over a 10-year period, to support scholarships that will be awarded to residents who live in Section 8 housing. Chris Dischinger, co-founder and principal of LDG, said that of at least $100,000 will be awarded to students in Louisville beginning in 2019.
“Communities that are aggressively working to provide more affordable housing and ensure that all students have a path to pursue a post-secondary education or training understand quality housing and a trained workforce are essential to a city’s long-term success.,” said Dischinger.
“We are thrilled that Louisville– the place LDG calls home—understands the importance of making progress in both areas is providing a variety of tools and the leadership needed to produce the desired outcomes we all want for our community.”
Construction on phase I of Jefferson Green is currently underway and is expected to be complete by July 2020. Phase 2 of Jefferson Green will provide an additional 240 units of apartment homes and construction plans will be announced as they are finalized.