Osage Estates Development

Osage Estates

Osage Estates is a 54-unit affordable housing community in New Castle, KY, originally constructed in 1982-83. The property has served low-, very low-, and extremely low-income families for over four decades through 100% project-based rental assistance via a HUD HAP Contract. In 2024, SOCAYR, Inc. was awarded Low-Income Housing Tax Credits by the Kentucky Housing Corporation to support a full rehabilitation of the development.

The unit mix includes 24 one-bedroom, 24 two-bedroom, and 6 three-bedroom apartments, along with an on-site office and community building. The rehabilitation will modernize every unit and restart the useful economic life of the property. Planned Improvements include updated kitchens with new cabinetry, countertops, EnergyStar appliances, LED lighting, water-saving plumbing fixtures, new heat pumps HVAC systems, and higher-efficiency electric water heaters. Each unit will also receive designer-coordinated finishes, new flooring, doors, and fully renovated bathrooms.

Exterior improvements include new energy-efficient windows, roofs, siding, gutters, and downspouts, as well as repair or replacement of deteriorated building elements. Site work will include accessible routes, sidewalk upgrades, resealing of drives and parking lots, a new picnic and playground area, and improved landscaping. Underutilized space in the community building will be transformed into a dedicated Community Room for residents.

Owned and developed by SOCAYR, Inc. and managed by Beacon, Osage Estates will continue to offer sustainable, and well-managed affordable housing to families in Henry County for decades to come.

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