Indian Hills Village

Indian Hills Village

Existing Affordable Rental Community in Rural Kentucky Preserved for Local Families

Indian Hills Village Apartments, constructed in 1973, is a 40-unit affordable rental community that recently underwent extensive renovations to preserve the property. Located in rural Fulton County, KY, the property serves families earning up to 60% of the Area's Median Income. The preservation of Indian Hills Village was critical for local families, as it is one of the only low-income properties in the area and has maintained 100% occupancy for the last several years.

The rehabilitation of Indian Hills Village was possible through our collaboration with Wallick Communities, who served as the developer for the project. Wallick is an industry leader in affordable housing, with over 400 Low Income Housing Tax Credit (LIHTC) properties developed for families and seniors. Winterwood, Inc., one of the largest affordable housing management companies, will manage and oversee daily operations at the property. Jessica Somerfield, site manager at Indian Hills Village, highlights the impact on the community by stating that "this property helps give people who otherwise may not have that chance of having their own home, the opportunity to do so."

Indian Hills Village
Indian Hills Village

Rehabilitation: 42 Units
Private Equity Investment: $4,868,013

During Construction:
Local Jobs Supported: 21
Local Government Revenue: $36,000

Like the entire country, Kentucky is experiencing a severe affordable housing deficit for low-income renters. The National Low Income Housing Coalition estimates that in 2021 there was a shortage of nearly 90,000 units for the more than 165,000 households considered extremely low income, earning at or below 30% of the Area Median Income. Residents in rural areas of the state are particularly impacted by the lack of affordable rental options, often having to sacrifice other necessary resources to afford rent.

Renovations at Indian Hills Village included new energy-efficient appliances in each unit. Updated flooring, doors, paint, and cabinetry modernized the interior and improved safety for residents. A brand new community building with laundry facilities, a kitchenette, and a computer room was built at the property as well as a covered picnic area and playground. These improvements, along with others done at the development, will ensure residents have access to safe and affordable housing that will last well into the future.