LOUISVILLE, Ky. — The James Graham Brown Foundation is providing a $575,000 grant to the nonprofit developer of a 116-unit affordable senior apartment project in West Louisville to complete a first-floor build-out of the former warehouse structure slated to become Gateway on Broadway.
Gateway on Broadway Senior Apartments will provide 116 affordable apartments for low-income seniors on the top four floors of what was originally the Axton-Fischer Warehouse.
Housing Partnership Inc. (HPI) , a 501(c)3 nonprofit organization, is a real estate developer that creates affordable housing opportunities to encourage family stability, revitalize neighborhoods, promote economic growth, and strengthen local communities, has worked to revitalize and repurpose the building as a retail, office, and residential space conveniently located on a bus line to reduce transportation barriers.
The grant will help complete the first-floor build-out of the Gateway on Broadway project, a restoration effort for the long vacant five-story warehouse at 1405 West Broadway in Louisville’s Russell neighborhood into affordable housing for low-income seniors.
The first floor of the building will become a community resource by housing headquarters for several nonprofits, service providers and a full-service meeting space called the Gateway Community Resource Center. Grant funds from the James Graham Brown Foundation will help support the construction and labor costs for the Gateway Community Resource Center.
HPI is currently seeking funding from partners to complete the build-out of the first floor of Gateway on Broadway which will house HPI’s new corporate office, affiliated nonprofits, a First National Bank Branch, and the Gateway Community Resource Center.
With grant funds from the James Graham Brown Foundation, HPI will create the Gateway Community Resource Center, a multipurpose meeting space equipped with presentation technology, a kitchen, and on-suite restrooms designed for community partners and local nonprofits to hold trainings, classes, board meetings, and events. HPI’s Homebuyer Education, Credit Counseling Program, and Healthy Habits classes will operate out of this space as well, speaking to their long-term investment into the physical and financial well-being of those affected by the critical gap in the supply of affordable housing.
Since its founding in 1990, HPI has leveraged more than $1 billion in affordable housing development and has created over 10,000 affordable housing units to help support low-income individuals and families. HPI currently serves over 1,500 individuals and families in its property-managed single- and multi-family communities. Additionally, HPI provides a vast range of community service and education programs to create more pathways to homeownership, promote financial literacy, and provide financial assistance. Through partnerships with state agencies and other nonprofits, HPI’s work also extends to counteracting homelessness with affordable housing opportunities for veterans and victims of domestic violence.
The James Graham Brown Foundation was established in 1954 by the noted lumberman, horseman and entrepreneur. Since its founding, the organization has awarded nearly 4,000 grants totaling over $685 million. The foundation funds a variety of causes and local charities working in the areas of education, human services, economic development, cultural and civic projects.
Founded in 1990, The Housing Partnership Inc. is a nonprofit real estate development organization that creates affordable housing opportunities to encourage family stability, support communities, revitalize neighborhoods, and empower local economy. https://wearehpi.org/
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