According to the Louisville Housing Needs Assessment, Louisville needs 31,412 new units of housing for Louisville’s lowest-income households (30% AMI or below). Another 25,200 units are needed for Louisvillians at or below 50% AMI. As a result, the housing gap is real and painful in our community. New Direction’s project, Working Your Way Home, helps close the housing gap by increasing the availability of down payment assistance through employer contributions. This is an important first step. Lenders such as LHOME, Housing Partnership, Inc, and Park Community Credit Union, give potential homeowners greater access to lending in some of the most underserved Louisville neighborhoods.
How We Helped
New Directions Housing Coalition was one of six companies selected to receive grant funding through the 2019 Reconstruct Challenge. The 2019 Reconstruct Challenge was a prize competition focused on the affordable housing crisis in the United States by funding the implementation and beta tests of innovations working to decrease the ancillary costs of housing in the Louisville and Southern Indiana area with the goal to prove out innovative models and help them scale.