Lexington’s Winburn neighborhood is home to a new 202 unit affordable housing development. The ribbon cutting occurred Tuesday. The Alcove at Russell is a $46 million investment, serving working families who earn just over $53 thousand annually. Oliver Mabson is property manager. He’s says he’s committed to maintaining a clean, safe, and enjoyable environment.
“And what we want to do is be a flagship property that show other areas or other developers or even this same developer that they can continue to do this…invest is this type of neighborhood…invest in this type of community..and get the results that they want,” said Mabson.
Mabson said 58 of the 60 units available in the first two buildings are leased. Housing Advocacy and Community Development Commissioner Charlie Lanter said another even bigger affordable housing project will be coming online this summer. In all, more than 800 units will have been built this year by the end of the summer.
Lanter noted there are different types of affordable housing.
“You know what we’re hear today looking at is really more of a workforce housing situation. It’s housing available to 60% or below. A lot of these folks are going to be employed or have a section 8 voucher. That’s different from maybe another project where we’re doing permanent supportive housing.”
This housing complex serves families who earn up to 60% of the area median income, just over $53 thousand for a family of four. Since 2014, the city has used local funds and leveraged many more to build or preserve 32 hundred units. Lanter said an affordable housing study in 2014 put the overall need at about 14 thousand. Lexington Mayor Linda Gorton asked LDG Development to do more in the future and co-founder Chris Dischinger said his firm would like to do so.
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