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Location
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1100 Prince Hall Drive Frankfort, KY
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Units
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100 Units
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Year
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Rehab Completed in 2019
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Type
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All-ages Community
Staggers Manor Apartments Development
Prince Hall Village
Prince Hall Village is a 100-unit affordable family housing community in Frankfort, Kentucky, originally built in 1970 and subsidized through a Project-Based Section 8 HAP contract with HUD. As it neared its 50th anniversary, the property faced significant deferred maintenance and outdated infrastructure. in response, a major rehabilitation initiative was launched to preserve the property and improve the quality of life for residents.
SOCAYR, Inc., In partnership with the Housing Partnership, Inc. (HPI) and Prince Hall Village, Inc., led the redevelopment as part of a larger portfolio effort involving 239 units across Kentucky. The project leveraged 4% Low Income Housing Tax Credits (LIHTC), tax-exempt bonds, and crucial gap funding through Kentucky Housing Corporation (KHC) to finance critical repairs, energy-efficient upgrades, and modern amenities.
Improvements including Energy Star-rated appliances, vinyl plank flooring, updated kitchens and bathrooms, cement board siding, new roofs, playgrounds, and energy-saving systems. The renovation was carefully phased to minimize disruption for existing residents
Despited complete challenges, Including legacy HUD debt, Intricate. financing structures, and regulatory hurdles, Prince Hall Village was successfully, repositioned as a vital, long-term affordable housing asset. This ambitious preservation project stands as a testament to collaborative partnerships, creative financing, and unwavering commitment to community revitalization.
