Jacob School Senior Apartments is an affordable senior housing development at the site of the historic Jacob School building in Louisville, KY. Apartment Interiors will feature fully appointed kitchens, designer-inspired colors, cabinets/countertops, flooring, and fixtures, with restored historic millwork and trim. New energy efficient equipment, including individual HVAC systems, hot water heaters, kitchen appliances, low-flow faucets and valves, and Energy Star rated lighting fixtures will help enhance the affordability of the apartments by keeping utility costs low.
Common Areas and Exterior Amenities. Work in the common areas will include the historic restoration of the original common hallways and stairways, and the repurposing of some common areas to accommodate additional programming and activities. The building site will include ample well-lighted and fenced parking areas, landscaped open space, recreation/picnic areas, walking trails, community garden plots, and other features.
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Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Jacob School Senior Apartments is managed by Bywater Development Group.