The Newest Project: Florence Ave Duplex
Gleanings Housing purchased 732 Florence Ave vacant lot from the Master Commissioners Sale in November of 2024. The lot is zoned R2 and conveniently located on a public bus route, with Douglass Park less than a mile away. Duane Clup, a retired licensed architect, has completed architectural drawings for the duplex able to be used to obtain building permits. The duplex will feature one one-bedroom unit and one two-bedroom unit, both designed to remain affordable for the city's most economically disadvantaged households. Each unit will be equipped with a washer/dryer, a full kitchen with apartment-sized appliances, and will be fully electric. John Workman has been making contacts with groups and contractors that worked on Magoffin to create a accurate budget to guide this project. He is scheduled to meet with Lexington Building Inspection staff this week and plans on requesting a variance from the Board of Adjustments for approval to provide off-street parking in front of the duplex. The lot is smaller than Magoffin and does not have any space to put the driveway next to the duplex.
Gleanings Housing’s development projects are strategically focused on producing long-term affordable rental housing to address the gap identified in recent analyses. The Housing Supply Gap Analysis conducted by Bowen National Research reveals that Lexington has a total deficit of 14,423 rental units. Of these, 11,436 units are specifically required for households earning very-low or extremely low incomes (less than 50% AMI). Current policies do not adequately address the specific needs of those earning less than 50% of the AMI. Consequently, affordable rental housing is predominantly developed for those earning 60-80% of the AMI, leaving a significant gap for those in the lowest income bracket seeking housing. Adhering to these higher income thresholds fails to assist the most cost-burdened members of our community, resulting in a stark and evident gap. Gleanings Housing specifically targets our development for households earning less than 50% AMI in the Lexington area to meet this critical need. Households experiencing ‘cost burdening’ rent often experience housing instability because the cost of housing uses a larger portion of monthly income than is actually sustainable. Our very low-income and extremely low-income households are just one illness or accident away from being unhoused. Gleanings Housing develops rental units specifically designed to set rent at an attainable level for the very low-income or extremely low-income households we serve. Our model of housing development results in safe and equitable rental property that will remain at affordable rates for decades. Gleanings Housing can set rent at 25% to 30% of household income, even when the income is less than $1000/month, due to our model of debt-free building. Debt-free properties are key to long-term viability as we cover monthly expenses with minimal rent. Once the units are built, they immediately become stable housing with limited need for ongoing financing.
This is an exciting time and a time for needed prayer. Stepping into construction without solid funding is an act of faith. We cannot carry debt and meet the needs of the population we want to serve. Our mission of creating a community of people to develop affordable housing is the backbone for cost management and funding for debt-free construction. Watch for upcoming volunteer days and sign up. Let us know if you are interested in being part of the construction planning process. We warmly invite experienced individuals to join us in guiding this build. Your expertise is invaluable in creating safe and affordable housing for those in need. Together, we can make a lasting impact on our community. e need people with experience to help guide this build.