New affordable housing in Lexington
LEXINGTON, Ky. (WTVQ) – City leaders celebrated the opening of a new 202-unit housing development in the Winburn neighborhood of Lexington.
Mayor Linda Gorton says she is glad to see the development fully open as the pressing need for affordable housing in the city increases.
The Alcove at Russell, located off of Russell Cave Road, is a community that provides 1-,2- and 3-bedroom units. They also provide amenities including a playground, clubhouse, fitness center, business center and an outdoor sitting area.
“As we all know affordable housing is a pressing need in our city and we our glad to see this new development fully open,” Mayor Gorton said.
The Alcove serves working families who earn up to 60% of the area median income, or up to $53,580 annually for a family of four.
The new development represents a $46 million investment to the area and is LDG Development’s second development in Lexington. \
Chris Dischinger, co-founder of LDG, says “Our experience in Lexington mirrors what we see in other communities, we can’t make these units available quick enough to meet the on-going demand.”
The community is currently 26% full, and leases are quickly being signed.
