LEXINGTON, Ky. (LEX 18) — The fight for more affordable housing is getting another boost on the city's East End.
That's where the Housing Authority unveiled six new townhomes this morning.
The development, located at the corner of E. Third and Race Streets, is named "Race on Third." Each townhome is at least 1,300 square feet, with porches, patios, granite counter tops, dishwashers, walk-in closets and laminate wood flooring.
According to the Housing Authority, the complex cost $1.6 million to build. But the Housing Authority didn't use federal or local money, instead funding the project through good stewardship of fees from other federal developments.
Rent at the townhomes will be based on low-income housing tax credit maximum rent limits, and housing vouchers are accepted. City leaders say the homes are the perfect example of the affordable housing needed across Fayette County.
The local contractor in charge of the project agrees.
"It's exciting to be a part of this project," said Bishop Carter, owner of Elaine Allen, LLC. "I've actually watched this land sit vacant for several years."
Applications are already open for Race on Third. Renters will start to move in on August 1st.
There are other developments happening in the neighborhood, including nine affordable single-family homes going up on a new street - Dr. Zirl A. Palmer Lane - just two blocks away from the townhomes.
