Proposed $15 million would create 15,000 affordable housing units across Louisville
Part of Mayor Craig Greenberg's historic $1.2 billion budget proposal could help fight Louisville's affordable housing crisis in the near future.
The proposed budget revealed on Thursday includes $15 million allocated to the Louisville Affordable Housing Trust Fund to build 15,000 low-cost, single-family homes, apartments and duplexes across the Metro by 2027.
The executive director of the gap lender that would receive the funding said it would get them halfway to meeting the city's overall need for around 30,000 affordable housing units.
"Poverty's not going away. I'm concerned that it may grow a little bit with increasing costs for families," said Christie McCravy.
McCravy told 비바카지노 Viva that rising costs and federal cuts could make achieving Greenberg's goal difficult. However, she remains hopeful.
"I think if we keep working hard at it, we can," McCravy said.
On Thursday, the mayor unveiled his strategy called "My Louisville Home."
He said the effort will expand on the 5,000 affordable housing units already built in Louisville, as well as those still being constructed, including Bridlewood Crossing in South Louisville and the Russell neighborhood's Richmond Apartments.
"There's no greater foundation for stability than having a place to call home," Greenberg said.
According to McCravy, the $15 million for the Louisville Affordable Housing Trust Fund would go toward projects that are in the pre-development stage, though she couldn't provide locations or other specifics.
Of course, the outcome of it all depends on whether Metro Council gives the mayor's proposed budget the final approval.
"We will all see what really happens in June," McCravy said.
Once the budget is approved, the trust fund's executive director said the next step would be meeting with developers.
McCravy hopes some of the $50 million budget surplus will go toward nonprofits helping to provide low-cost housing across Louisville.