Puritan Apartments Development

 Puritan Apartments

Puritan Apartments is a 249-unit affordable senior housing community located at 1244 S. 4th Street in Louisville, KY. Originally built in 1910 and serving residents aged 62 and older since 1978 under HUD'd Section 202/8 program, the historic property underwent comprehensive rehabilitation led by SOCAYR, Inc. in partnership with Beacon.

Completed with the support of Tax-Exempt Bonds, 4% Low-Income Housing Tax Credit (LIHTC), and both state and federal Historic Tax Credits, the renovation brought $17 million in upgrades to the property. Improvements included new plumbing and mechanical systems, centralized HVAC with individual thermostats, modernized kitchens with dishwashers and over-the-range microwaves, fully renovated bathrooms, energy-efficient interior storm windows, roof replacement, and masonry restoration that preserved the building's historic character.

SOCAYR's preservation strategy included retiring existing HUD debt and entering into a new 20-year Section 8 HAP contract with a preservation agreement. The project exemplifies SOCAYR's mission to acquire, restore, and preserve long-term affordable housing throughout Kentucky. The existing owner retained a 50% ownership interest in the new partnership entity.

Puritan Apartments remain a vital resource for affordable senior housing in Louisville, ensuring the continued dignity and comfort of older adults in a thoughtfully restored, historically significant setting.

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