KHC Joins Groundbreaking for Affordable Housing, Historic Preservation Project in Lexington

FRANKFORT, Kentucky — Kentucky Housing Corporation (KHC) traveled to Lexington today, January 30, to break ground on the Oaks at Woodland, an historic preservation and affordable housing project that will serve as the cornerstone of the Woodland neighborhood.

“We are proud to partner with Winterwood Development LLC on this project, which will restore the luster to what was once a crown jewel of the Woodland Park District,” said Justin Long, KHC’s project manager for the Oaks at Woodland. “This is a thoughtful and beautiful restoration that will add more affordable rental housing to the Lexington landscape, which is critically needed.”

The Oaks at Woodland project will include the restoration and expansion of the 21,000 square foot Woodland Christian Church, a Colonial Revival structure built in 1924. The original building will receive substantial structural and mechanical repairs and an architecturally appropriate structure will be added.

When completed, the two buildings will add 38 one-bedroom affordable homes for low-income Lexington seniors. The church will remain in the building and continue to provide services to the community as well as to the new residents.

According to the Kentucky Housing Supply Gap Analysis, which KHC conducted in 2024, the state needs more 206,207 housing units to meet the needs of its current population. Fayette County alone needs 22,549 more units:

• 14,423 rental units, second only to Jefferson County.
• The majority of the need — 8,764 — falls to residents who have the lowest incomes.
• That number is expected to increase to 10,104 by 2029.

KHC invested $646,000 in 9% Low Income Housing Tax Credits (LIHTC) in this project. It will be developed and managed by Winterwood Inc.