|
Total Cost and Funding: |
Approximately $200 million; 50/50 private/public funding. The sources of the funds include investor capital from the sale of low-income housing tax credits, public housing resources, and Community Development Block Grant funds from the City of Louisville.
1995:
1996: |
$31.4
million Special Development Funds
$20 million HOPE VI
$14.8 million HAL Development Funds
$9.9 million HAL Comp Grant |
|
|
Project Partners: |
Private lenders and investors, the Louisville Metro government, Louisville Metro Housing Authority, and U.S. Department of Housing and Urban Development.
|
|
Completion Timeline: |
8-10 Years
- The first HUD grant was made
in October 1995
- The Oaks was launched in October
1996 and completed in the spring of 1998
- Phase II infrastructure work
began April 1998
- Phase II marketing and leasing
application began Fall 1998
- Rental occupation began First
Quarter 1999
- Rental unit construction complete
- New home construction near completion
|
|
Total # Housing Units: |
Approx.1,213: 613 rental; 450 homeownership; 150 off-site units
|
|
Target Markets: |
New housing will be available to buyers and renters of all income ranges throughout the metropolitan area. |
|
Park DuValle
Phases***
| |
RENTAL |
H.O. |
| Phase 1 |
100 |
0 |
| Phase 2 |
213 |
147 |
| Phase 3 |
108* |
60 |
| Phase 4 |
192 |
243 |
| |
613 |
450 |
| TOTALS: |
Homeownership |
450 |
| |
Off-Site |
150** |
| |
Rental
|
613 |
| |
|
1213 |
| *Includes: |
59 unit elderly
building |
| |
19 unit
multifamily building |
| |
30 multifamily
townhomes |
**Net new units of
rental or homeownership somewhere in the County.
***These numbers are approximate and may vary somewhat as we develop
each phase. |
