Richwood Bend Apartments

Richwood Bend Apartments is a development of 83 residential apartments in the Woodhill neighborhood in the southeastern part of Lexington, KY. It includes 4 buildings offering one-, two-, and three-bedroom units targeted at families with incomes equal to or below 60% of the area median income. Amenities include: common areas in each building, picnic tables, and a playground.

The apartments were developed by AU Associates, an experienced Lexington-based developer. Construction began in April 2023 and was completed in the fall of 2024. AU Management, an affiliate of AU Associates is managing the property.

HOPE provided a $10 million construction loan for the project through the purchase of tax-exempt bonds issued by the Kentucky Housing Corporation (KHC) and a $1 million construction bridge loan. The project received low-income housing tax credits from the KHC and funding from the Lexington Affordable Housing Fund and Lexington HOME.