KHC Helps Break Ground on the Gateway on Broadway Affordable Housing and Community Resource Center
FRANKFORT, Kentucky — Soon, seniors in West Louisville will have a new affordable housing option.
Kentucky Housing Corporation (KHC) Chief Executive Officer and Executive Director Winston Miller joined Mayor Craig Greenberg, U.S. Representative Morgan McGarvey, former Kentucky Representative Charles Booker, and other officials Friday, July 21, to celebrate the start of construction on the Gateway on Broadway, a renovation project by The Housing Partnership, Inc. (HPI) that will provide 116 affordable housing units for seniors in addition to a community resource center and a branch of First Financial Bank.
This is an important project for the west of Ninth,” Miller said. “It’s an important project for Jefferson County. It’s an important project like all the other projects that we help finance around the state of Kentucky that make affordable housing available for the citizens of the Commonwealth. Affordable housing is so critical to the development of all of our lives, who we are as people, the families that we love, and the communities that we love. We are thankful that KHC has resources that we can make available for worthy projects like this.”
Booker emphasized that more than being a gateway to West Louisville, the project is a gateway to opportunity.
“This is an example of the restoration that must happen all across the west end,” Booker said. “We need to lead toward ownership, we need to lead toward wealth creation, and that starts with having a place to stay.”
The original structure, which is on the National Register of Historic Places for its role in the history of Louisville manufacturing, was built in 1921 for the Frank A. Menne Candy Company but was later sold to the Axton-Fisher Tobacco Company.
KHC invested more than $28 million for the project: $25 million in tax-exempt bonds, $1.7 million in housing credits, and $500,000 from the Affordable Housing Trust Fund.
Over the past 10 years, KHC has invested more than $190 million in the Russell neighborhood alone, and another $700 million in the surrounding neighborhoods.
The Gateway on Broadway is part of HPI’s larger focus on increasing homeownership and affordability in neighborhoods west of Ninth Street.
