Lexington city leaders held a ribbon-cutting Thursday afternoon to officially open affordable housing apartments on the southeast side of town. Mayor Linda Gorton said Richwood Bend Apartments, off Codell Drive, features 83 new units.
“We know that Lexington still needs more affordable housing, and Richwood Bend is one of several projects we are working on to begin to meet that need.”
Gorton said more than 400 new affordable housing units have opened this year. She also praised the city council’s decision to dedicate one percent of revenues to the city’s Affordable Housing Fund. Councilmember Preston Worley spoke of how his work with the Kentucky Housing Corporation, developers and lenders helped prepare him for such efforts.
“The most important thing that we can do for people is to provide them safe, decent and affordable housing, because that is the launching point for a good job, good education, food security, but most importantly, the ability to have a place to call your own.”
Gorton said since 2014, the city’s Affordable Housing Fund has invested $48.3 million, leveraging $440 million from private and public partners to build or preserve 3,500 units.
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