LOUISVILLE, KY. — New York City-based Affordable housing developer and operator Fairstead has acquired a general partner interest in City View Park, an affordable housing community in Louisville. Via the partnership, Fairstead will assume the role of owner and property manager.
The community includes 72 one-bedroom, 221 two-bedroom, 179 three-bedroom and 31 four-bedroom residences. Of the 503 total units, 468 are supported by Section 8 contracts, and all homes are governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions, reserved for residents earning no more than 60 percent of the area median income. City View Park was built in the early 1970s and renovated in 2021. Fairstead owns approximately 26,000 apartments across 28 states.