Developer outlines 30-unit affordable housing proposal for Holmes Street
Winterwood Incorporated presented plans for a 30-unit, mixed-size affordable housing development on Holmes Street, estimating construction costs at just over $5.9 million and total investment of about $7.5 million; the developer said rents would be capped by housing tax-credit rules.
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Mike Hines, president of Winterwood Incorporated, told the Franklin County Fiscal Court on July 29 that his company is preparing an application to the Kentucky Housing Corporation for a planned affordable housing development on Holmes Street. "We anticipate a construction cost of a little bit over 5,900,000," Hines said, and added that "total investment would be about 7,500,000." He described site renderings, a three-floor layout with community rooms and a mix of one-, two- and three-bedroom units.
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