There is a huge opportunity to accommodate needed affordable housing inside Lexington’s urban core.
34% of new jobs will pay less than $20,000/yr. Downtowns are the most affordable place to live because amenities and essential services are close to residential development-substantially cutting transportation costs.
– Bluegrass Tomorrow, 2007
Yet, up to 90% of welfare recipients do not own a car, and yet 2/3 of job growth in the United States occurs in the suburbs.
– The Right to Transportation, Planning, The American Planning Association, January 2008.
Unlike the National Average in which downtown property is 2 times the cost of suburban property, the average downtown property is 1 ½ times the cost of suburban property in Lexington-Fayette County.
– Business Lexington, October 5th 2007
Opportunities are there, and the need for affordable housing is even greater. An alarming 18.1% of all renter households in Lexington now pay more than 50% of their gross income for housing. Meanwhile, the federal commitment to affordable housing has shrunk more than 80% in the last 25 years.
– LFUCG Affordable Housing Trust Fund Report, 2008.
In addition, the Section 8 waiting list is closed and the application process for section 8 housing has been suspended.
– Lexington Housing Authority website, August 2009.
Lastly, for those earning Fayette County’s median income of $47,000 / year, 56-71% of houses in Lexington are out of their price range.
– HBAL & LBAR Affordable Housing Study, July 2009.
In light of these facts, it’s apparent that Fayette County is primed for an innovative growth model—one that incentivizes developers to build well-designed, mixed-use, and affordable housing units in our urban core and suburbs, while preserving our finite Bluegrass landscape on the perimeter for its branding, quality of life, and economic development value.
