Lexington Mayor Linda Gorton made it clear that the city needs to build more housing, and affordable housing is an important component.
“Affordable housing is a pressing need in our city,” said Gorton.
On Monday, Gorton joined Gleanings Housing Inc. to cut the ribbon on a new affordable housing triplex in Lexington’s East-end neighborhood.
The development will provide affordable housing for households in the lowest income bracket, according to the mayor. So, rent will be set at 30% of household income.
Since 2014, the city’s Affordable Housing Fund has invested $48.3 million in the construction and/or preservation of 3,500 units. The $48.3 million investment has leveraged another $440 million from private and other public resources. And the city will continue to invest in the future.
“We’re dedicated to this. One percent of our budget every year goes into our affordable housing fund,” said Gorton.
“We know that we need thousands of units,” she added. “Thousands.”