Mayor Linda Gorton and Councilmember Josh McCurn today cut a ribbon to officially open 71 new affordable apartments in Meadowthorpe.
Meadowthorpe Landing, 1447 Antique Drive, will provide affordable housing for independent senior citizens.
“Our city needs more affordable housing, especially for senior citizens,” Mayor Linda Gorton said. “We still have a lot of work to do, but this is a big step forward.”
Councilmember Josh McCurn, who represents Meadowthorpe agreed. “The Meadowthorpe Landing development is a win for the City, as we continue to focus on providing affordable, senior housing. The historic Meadowthorpe area is the perfect location, as it will provide several amenities as well as an active neighborhood association.”
The project features 57 one-bedroom, and 14 two-bedroom apartments. These apartments come equipped with energy efficient appliances, central heating and air, extra storage, a secure building access control system, and abundant natural light. The development also has a community room, fitness area, walking trails, laundry facilities, an outdoor gazebo, and extensive landscaping. All floors are served by an elevator.
Developer AU Associates worked with the neighborhood to ensure that the development would be welcomed by, and appropriately serve, the area. “Our goal at AU has always been to build a home that we would want to live in ourselves,” said Holly Wiedemann, AU’s Founder and President. “Each and every one of our projects is unique to the community in which it are located, and Meadowthorpe Landing exemplifies our mission. It was architecturally designed to highlight the surrounding context of the area, as evidenced by its extensive use of brick and abundant landscaping.”
AU has developed several affordable housing projects in Lexington in recent years, but Meadowthorpe Landing is the largest.
Financial partners include the City’s Affordable Housing Fund, Kentucky Housing Corporation, Community Affordable Housing Equity Corporation, Berkadia, Freddie Mac and RiverHills Bank. Architecture firm Lord Aeck Sargent designed, and Lexington-based Brett Construction built the project.
Since 2014, Lexington's Affordable Housing Fund has allocated $15 million for the development and preservation of 1,755 affordable units ($8,547 per unit). The fund has leveraged an additional $152 million from private and governmental resources for the development of these units.