Park View Apartments Open in Morehead
FRANKFORT, Kentucky — Kentucky Housing Corporation (KHC) joined Frontier Housing and The Housing Partnership, among other partners, this morning to officially open Park View Apartments in Morehead.
Located next to Morehead City Park and adjacent to Morehead State University, this 40-unit affordable housing rental property comprises 12 one-bedroom, 20 two-bedroom, and eight three-bedroom apartments.
“Today we celebrate more than the opening of Park View Apartments—we celebrate 40 families gaining a safe, high-quality, and affordable place to call home,” said Terry Helton, managing director of Multifamily Programs at KHC. “Developments like this are critical because Rowan County faces a growing housing shortage, with demand projected to rise from 1,100 units today to 1,400 by 2029. Together with our partners, we’re building a Kentucky where everyone has a home they can afford.”
KHC supported the development with $300,000 from the Affordable Housing Trust Fund and $874,000 in Low-Income Housing Tax Credits that generated approximately $7.5 million in tax credit equity.
Kentucky Housing Corporation, the state housing finance agency, was created by the 1972 General Assembly to provide affordable housing opportunities. As a self-supporting, public corporation, Kentucky Housing offers down payment assistance loans to assist first-time homebuyers obtain home mortgages, housing production financing, homeownership education/counseling, rental assistance, housing rehabilitation, and supportive housing programs for special needs populations.
