Ground was broken Friday for a $43 million affordable housing complex in northern Fayette County. It’s in line with the Urban County government’s ongoing program to increase such housing.
Kearney Ridge Apartments is slated to feature 252 units. Lexington Mayor Linda Gorton says the city has dedicated an additional $10 million in federal funds plus $3.5 million in local money to build or rehabilitate affordable housing.
Since being created in 2014, the Affordable Housing Fund has provided support to for-profit and non-profit developers for the building and preserving of more than 29 hundred units.
The majority of the units at Kearney Ridge are designed for households with incomes at or below 60% of the area annual median income-just over $36,000 for a two-person household.
