Highland Village
SITE
Highland Heights, KY
July 2018
TOTAL PROJECT COST
$22 Million
IMPACT
118 units for the elderly
We brought 21st century senior housing to the community with the return of the first senior housing option in the city since 2013.
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This development, supported by the Mayor, Highland Heights City Council, and various other organizations, is a new senior housing construction project in response to a significant loss of subsidized housing for senior citizens in Campbell County, KY. Highland Village is a low-income housing Tax Credit development with many funding sources: KHC tax credits, CDBG, owner equity, owner loans, a Federal Home Loan Bank grant, KY Affordable Housing Trust Fund, and State Department of Transportation Replacement Housing Mitigation funds. The total development cost was around $22 Million.
Highland Village is a model for integrating affordable units into suburban communities. It is retirement housing for middle-income people who did not plan for retirement and will become low-income people once they retire.
The development includes 104 one-bedroom units and 14 two-bedroom units. All 104 one-bedroom units are located in a single three-story building, with the 14 two-bedroom units dispersed among one-story duplexes. These 14 units have attached garages, front porches, and private patios. And, the 104 units have private balconies and off-street parking. Of the total units, 71 serve residents with income of less than or equal to 50% of AMI, and 47 serve residents at 60% of AMI or less.