Newly Constructed Affordable Rental Community for Families in Lexington, KY

The Need for Affordable Housing

The number of individuals who cannot afford a comfortable and safe place to call home has reached a record high. The National Low Income Housing Coalition reports that there is currently a shortage of more than seven million affordable homes for the nation’s more than 10.9 million extremely low-income households. The burden of this shortage is far-reaching and has a lasting economic and social impact on individuals and communities. The development of affordable housing benefits the economy and helps communities thrive. Research shows that affordable housing encourages social connection, reduces overcrowding, attracts businesses with job opportunities, and lowers crime rates.

Project Overview

Davis Park Station

By The Numbers

Located in Lexington, Kentucky, Davis Park Station consists of 73 one-, two-, and three-bedroom units ranging in size from 738 to 1,134 square feet. The units are spread between 3 buildings, with one accessible unit attached to the community building. Davis Park Station represents the second phase of the development, following Davis Park View, a property that has maintained high occupancy since completion. In addition, the property is in the heart of downtown, which is an area of various revitalization efforts, including mixed-use housing.

Developed and managed by the expert team at AU Associates, Davis Park Station is equipped with modern amenities both in-unit and within the community. Site amenities include a management building with office space, laundry facilities, and a community room.

Project Impact

One of the things that sets Davis Park Station apart is the public-private partnership, which includes the City of Lexington’s Workforce Training Center on site. This center will provide career and employment services for residents and community members. "Davis Park Station epitomizes community collaboration. Each resident household has access to both affordable housing and employment services training, which allows them to pursue both housing stability and economic growth simultaneously," said President of AU Associates, Johan Graham.

Davis Park Station will help meet the growing demand for affordable rental housing in the area. The development was thoughtfully designed with families in mind, offering resources that allow residents opportunities for growth and success. This community is poised to provide safe, affordable housing to families in and around Lexington for years to come.

Davis Park Station was recognized at the 2025 CAHEC Partners Conference as the winner of the Outstanding Community Development award, in part, because of this unique offering. Click here to watch the award video and learn more about this exceptional project.

What is LIHTC?

Created by Congress as part of the Tax Reform Act of 1986, the Low Income Housing Tax Credit (LIHTC) generates private capital investment used to finance the construction and rehabilitation of affordable rental housing for households earning on average 60 percent or less of the area median income. According to the Joint Center for Housing Studies at Harvard University, the housing tax credit is "widely regarded as the most successful housing production and preservation program in the nation's history." Since being enacted, the LIHTC program has helped develop more than 3.5 million affordable housing units.

In addition to providing safe, decent, and affordable housing for working-class families and seniors on limited incomes, the economic impact of the LIHTC program is visible in communities throughout the country. The development of affordable housing increases spending and employment in the local economy. Moreover, affordable housing can affect an employer's ability to attract and retain employees. LIHTC investment plays a significant role in community revitalization, which in turn can improve economic opportunities for local residents.

Who is CAHEC?

CAHEC is a community development organization based in Raleigh, NC, and Columbia, SC, that offers housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. CAHEC's product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. Additionally, CAHEC provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services.

This institution is an equal opportunity provider