Louisville has completed seven new affordable housing complexes, thanks to $40 million from the American Rescue Plan. The new housing options, located in neighborhoods such as Iroquois, Russell, the Highlands, and Portland, are serving over 300 families with the lowest incomes in the community.

Affordable Housing Crisis

Christie McCravy, executive director of the Louisville Affordable Housing Trust Fund, oversaw the distribution of $40 million from the American Rescue Plan to fund the projects. “It’s for seniors, it’s for the mentally ill on our streets who just need a little boost up in order to become stable, and it’s for regular working families,” McCravy said.

The initiative, originally started by former Mayor Fischer, has been continued by Mayor Craig Greenberg. Former Rep. John Yarmuth played a key role in securing the funding in 2021. Looking ahead, McCravy emphasized the need to find a continuous commitment of funding sources to continue addressing the affordable housing crisis, especially as the average rent in Louisville ranges from $1,200 to $1,500 per month.

Original reporting: WLKY Louisville — read the source article.