FRANKFORT, Ky. — Soon, seniors in West Louisville will have a new affordable housing option.
Construction on the Gateway on Broadway, a renovation project by The Housing Partnership, Inc. (HPI), will provide 116 affordable housing units for seniors in addition to a community resource center and a branch of First Financial Bank breaks ground.“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 critical to the development of our lives, who we are as people, the families we love, and the communities we love. We are thankful that KHC has resources that we can make available for worthy projects like this.”
The original structure on the National Register of Historic Places for its role in Louisville manufacturing was built in 1921 for the Frank A. Menne Candy Company. Still, it was later sold to the Axton-Fisher Tobacco Company. KHC invested over $28 million in 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.
