LEXINGTON, Ky. (LEX 18) — A renovation project at Briarwood of Lexington has brought new life to dated affordable housing units.
The Glick Company, based out of Indianapolis, recently renovated the 204 affordable apartment homes for seniors and people with disabilities.
Glick built Briarwood of Lexington in 1979, and after several decades, the subsidized apartment community was in need of upgrades.
“We have a lot of older properties in our portfolio like this, and affordable housing is an important issue to us, it’s near and dear to us,” said Glick Company CEO David Barrett.
Feeling an obligation to preserve Briarwood’s apartments, Glick utilized tax-exempt bonds from Kentucky Housing Corporation, low-income housing tax credits, and funds from Lexington’s Affordable Housing Fund. The public-private partnership was a first for Glick in Kentucky.
“We know this property was aging, and we decided to make an investment, and with the assistance of Kentucky Housing and other agencies here in Lexington we were able to complete this rehab and we’re really excited about it,” said Barrett.
Each unit received around $45,000 in upgrades, including new appliances, countertops, bathtubs, flooring, and light fixtures. The renovations ensure the one-bedroom apartments are affordable, high-quality, and safe for decades to come, according to Glick.
Longtime resident Willoughby Pounds described the makeover simply: “Slightly shocking, yet delightful.”
Crews took only a few days renovating each unit. In the meantime, Glick put up residents in hotels.
While Lexington still faces a steep affordable housing deficit – a shortage of more than 22,500 units - Barrett feels the ones that already exist can’t be neglected.
“To preserve these units and make sure they're available to residents for 20, 30, 40 years is critically important,” he said.
