Lexington officially opens new affordable housing project

LEXINGTON, Ky. (WTVQ) – Lexington’s newest affordable housing project has officially open.

Mayor Jim Gray and other city officials cut a ribbon Monday on the final phase of Parkside Apartments.

The city says the project, located at 1060 Cross Keys Road, brings an additional 36 units of affordable housing to Lexington, raising the total to 108 units of deed-restricted affordable housing on the site.

The property was the originally the home of the Gardenside Cabana Club and more recently the home of the Cross Keys YWCA.

The city says, after years of neglect and vandalism, AU Associates purchased the property after receiving an award of affordable housing tax credits from the Kentucky Housing Corporation.

All three phases represent over an $18.5 million investment in the Gardenside Neighborhood.

According to the city, Parkside provides much needed new, safe affordable housing for families in the Lexington area.

The new building includes 7 one-bedroom, 19 two-bedroom, and 8 three-bedroom apartments. The apartments are restricted to individuals and families making 60% or below of the area median income.

Rents range from $525-$775 per month, which includes water, sewer and trash.

Work on the final phase at Parkside began in October 2016.