In Bullitt County, Kentucky, near the towns of Mt. Washington, Brooks, Hillview, and Shepherdsville, is Mt. Washington Apartments, an affordable housing development catering to families earning below 60% of the Area Median Income. The 24-unit rental community was built in 1982 and has since provided the community with access to much-needed affordable housing.
Mt. Washington had not undergone significant improvements since its original construction and its occupancy rates have faced challenges in recent years due to the property's condition. However, renovations completed between 2020-2021 led by the experts at Winterwood Development, Inc., have ensured the property has not only restored its optimal occupancy levels but also become a beacon of hope for those seeking affordable housing in the region.
Rehabilitation: 24 Units
Private Equity Investment: $2,532,213
During Construction:
Local Jobs Supported: 11
Local Government Revenue: $55,565
The rehabilitation project entailed a comprehensive scope of work, including but not limited to roof replacements, siding updates, HVAC unit replacements, and interior refurbishments. The landscaping and exterior of Mt. Washington Apartments also underwent significant renovations, including the addition of a new playground for residents to enjoy with their children.
The rental market in Bullitt County has seen consistent growth over the past several years, with the population of families in the area increasing steadily. With an occupancy rate of 100% since the project's completion, Mt. Washington Apartments is set to serve the community as a high-quality, safe, and affordable housing option for many years to come.
7700 Falls of Neuse Road, Suite 200
Raleigh, NC 27615
919-420-0063
This institution is an equal opportunity provider.
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