ELIZABETHTOWN, KY.—The new Towne Commons Family Apartments was built to provide housing options for working families in the region.
The 92-unit community features 12 one-bedroom, 36 two-bedroom, and 44 three-bedroom apartments for Kentucky families earning no more than 60 percent of the area median income.
“The residents are hard-working, deserving people who look forward to moving here,” said Chris Dischinger, LDG Development principal. “It’s evident they take pride in where they live, and we are thrilled to be able to improve their overall life experience.”
Towne Commons is the latest affordable housing development by Louisville, Ky.-based LDG.
Funding for the $12.5 million development includes $1.25 million in annual low-income housing tax credits and $600,000 in Tax Credit Exchange Program funds from Kentucky Housing Corp. Stratford Capital Group provided the equity investment, and JPMorgan Chase Bank provided construction and permanent lending.
“Towne Commons provides additional housing options for working families in the ever-growing Fort Knox area,” said Andrew Hawes of Kentucky Housing. “This project represents another successful public/private collaboration to offer affordable housing options for Hardin County residents.”
All units have Energy Star appliances, including a washer and dryer, dishwasher, refrigerator, stove, and microwave. The apartments have laminate plank hardwood floors.
Located within walking distance of a major grocery store and restaurants, Towne Commons also features a community room with a separate theater. Behind the buildings, there is an outdoor park area.
The development was designed by The Weber Group, Inc.