Parkside Project Delivers Urban Infill to Gardenside Neighborhood
LEXINGTON, KY (January 25, 2012) AU Associates, a Lexington, KY based development firm, announces the completion of Parkside, a mixed-use development including 36 affordable apartments for families, offices of Sunflower Kids and Bluegrass Domestic Violence. In celebration, AU Associates is hosting a dedication ceremony for the $6.5 million project on January 25, 2012 at 2 PM at 1060 Cross Keys Road in Lexington, KY.
The property was the original home of the Gardenside Cabana Club and more recently known as the home of the Cross Keys YWCA. After years of neglect and vandalism, AU Associates purchased the property upon receiving an award of housing tax credits and affordable housing trust funds from the Kentucky Housing Corporation and City of Lexington HOME Funds. Construction and permanent financing was provided by Citizens Union Bank of Shelbyville.
“This exciting development is the first new urban infill project in this neighborhood in decades. By utilizing existing urban areas, we are countering sprawl and creating affordable housing in a sustainable manner. Lextran’s bus stop will help make this a great workforce housing opportunity, convenient to all our community has to offer,” says Holly Wiedemann, President of AU Associates, the developer of the project.
Parkside brings much needed safe and decent affordable housing for families in the Lexington area. The apartments will include well-appointed kitchens with dishwashers, microwaves, and disposals; private balconies; individual climate control; ceiling fans; and washer and dryer hookups. Energy star appliances and many elements of “green” technology including an eco-friendly elevator have been utilized to make this a sustainable new construction project.
There are 12 one bedrooms, 16 two bedrooms, and 8 three bedrooms apartments. The apartments are restricted to individuals and families making 60% or below of the area median income. Rents range from $500-700 per month which includes water, sewer and trash.
In addition to the residential floors on levels two through four, the first floor has three commercial space areas. The Parkside leasing and onsite management office and community room for the residents occupies Suite 110. The Sunflower Kids occupy Suite 160 and Bluegrass Domestic Violence Program occupy Suite 190.
Organized as a nonprofit agency in 2001, Sunflower Kids was created to respond to the need for a safe, affordable, and supervised child visitation setting, mainly for families affected by domestic violence and child abuse. Sunflower Kids has proudly served over 450 families since 2003.
Bluegrass Domestic Violence Program (BDVP) is the primary domestic service provider for prevention and intervention services in the Bluegrass Area Development District, along with a safe, healing shelter program. The Bluegrass Area Development District is made up of 17 Central Kentucky counties including Fayette. BDVP plans to use their new space at Parkside as a community outreach office which will offer counseling and support groups.
Parkside is the most recent addition to AU’s portfolio of more than $63 million of projects in Kentucky and West Virginia. AU has generated more than 350 units and over 100,000 square feet of commercial space in its 21 years of existence. For more information, please visit: www.auassociates.com or contact Martha Dryden, Director of Operations, at firstname.lastname@example.org or call (859) 233-2009.