Lexington Bluegrass-Aspendale Partners Break Ground on Phase IV
On Friday, January 23, 2009, HUD Louisville Field Office Director Krista Mills joined Mayor Jim Newberry, the Lexington-Fayette Urban County Housing Authority Executive Director, Austin Simms, the Board of Commissioners, staff, and the Lexington-Fayette Urban County Council for the official groundbreaking of Phases IV and V of the ongoing revitalization of the former Bluegrass-Aspendale neighborhood. The two new developments are named Bridlewood Place, which is Phase IV, and Grand Oaks, which is Phase V. Together, Bridlewood Place and Grand Oaks will comprise 176 rental units that are a combination of 1, 2, and 3 bedrooms.
"A safe, affordable home is the springboard for an individual or family to grow," said Krista Mills, adding, "It is for our neighbors - whether in Lexington or any other part of the Commonwealth - that all of us work hard to transform neighborhoods into centers of opportunity."
This revitalization project is part of a $20 million HUD HOPE VI grant. HOPE VI permits expenditures for the capital costs of demolition, construction, rehabilitation and other physical improvements, development of replacement housing, and community and supportive services. It encourages public housing authorities (PHAs) to seek new partnerships with private entities to create mixed-finance and mixed-income affordable housing that is radically different from traditional public housing "projects." PHAs administer the program, and can use the grants in conjunction with modernization funds or other HUD funds, as well as municipal and State contributions, public and private loans, and low-income tax credit equity. While most of the funds are to be used for capital costs, a portion of the grant may be used for community and supportive services.
Funding for and development of these neighborhoods was provided by Ohio Capital Corporation for Housing, Kentucky Housing Corporation, and the U.S. Department of Housing and Urban Development. Partners include Lexington-Fayette Urban County Government Home Ownership Commission, Inc., Lexington-Fayette Urban County Housing Authority, Lexington-Fayette Urban County Government, Bluegrass Phase IV Development LLC, Grand Oaks Development LLC, Sherman Carter Barnhart Architects, and CRG Residential LLC - General Contractor.
|Content Archived: July 5, 2011|