Excellence in Affordable Housing Development
River City Housing is a non-profit organization committed to developing high-quality homes that are affordable for low- and moderate-income families in Louisville Metro. Through productive partnerships with business, government, and community groups, River City Housing has produced close to 100 new single-family homes and 12 affordable senior apartments.

River City Housing improves the lives of working families and strengthens neighborhoods by developing homes built to last generations. The organization's Board of Directors and experienced staff maintain an unwavering focus on excellence—through construction oversight, customer service, and organizational governance. In recognition of RCH’s achievements, the Center for Non-Profit Excellence awarded its 2005 "Art of Governance" Pyramid Award to River City Housing.

Expanding Affordable Housing Choices Since 1992
River City Housing’s origins date to 1992, when Eastern Area Community Ministries, St. Matthews Area Community Ministries, and United Crescent Hill Community Ministries came together to form the organization. Thinking regionally well before city/county merger, the ministries recognized that affordable housing is needed everywhere, not just in concentrated low-income neighborhoods.

"There was a real imbalance, still is actually, where housing prices were going up a lot faster than incomes for a lot of people in Louisville, particularly in the East End," said founding board member Cleve Parkins. "We felt that this trend was making existing patterns of housing segregation by income and race even worse, and we wanted to try to address that in a practical and meaningful way. Our goal is to expand housing choices for all people in our community."

By any measure, River City Housing has succeeded in expanding affordable housing choices across Louisville. Of the first 94 homes sold, 38 percent were sold to African-American families, 50 percent to white families, and 12 percent to families in other racial or ethnic groups. Just over half of families were female-headed households, and the average annual household income was $26,722.

Building Assets for Families and Neighborhoods
The staff and Board of Directors of River City Housing believe that people deserve not only housing they can afford but housing that is well-built. As Board President Elizabeth Fust explained, "We want every home we build to be an asset that will appreciate in value for the family who purchases it. Equally important, though, we want to make sure that our product is seen as an asset to the neighborhoods in which we work."

Project Committee Chair Walt Reibling added, "Despite the stigma that some attach to the term 'affordable housing,' these are truly market-quality homes. The Project Committee, which includes engineers, trades people, and others with construction experience, wouldn't put up with anything less."

How the Homeownership Program Works
The homeownership opportunities provided by River City Housing are underwritten using funds provided through the U.S. Department of Housing and Urban Development (HUD) HOME program administered locally by the Louisville Metro Housing Department. Commonwealth Bank and Trust and the Louisville Community Development Bank provide construction loans at a favorable rate. The HOME program allows Community Housing Development Organizations (CHDOs) like River City Housing to provide a forgivable 15-year second mortgage to eligible homebuyers, lowering the amount of the buyer's first mortgage and their regular monthly payment. After 15 years, the no-interest second mortgage, is forgiven. Prospective homeowners must complete homeownership counseling training prior to purchase.

Expanded Vision, Increased Capacity
For the first ten years of its existence, River City Housing worked exclusively in Eastern Jefferson County. Over the years, however, the scale and scope of River City Housing’s operation has expanded - as Louisville Metro Housing recognized when awarding grant funds specifically to support a second staff member. "In recent years, as our organizational capacity has increased, we've broadened our service territory to include all of Louisville Metro, and have begun to take on more complicated projects." explained Executive Director Becky Roehrig.

In 2004 River City Housing used Low-Income Housing Tax Credits through the Kentucky Housing Corporation, Historic Preservation Tax Credits, HOME dollars and Federal Home Loan Bank funds to develop the historic 1892 Franklin School into 12 affordable apartments for low-income senior citizens. And during 2005-2006, working in partnership with four other affordable housing non-profits, the organization is developing 12 of 69 off-site single family homes as part of the Clarksdale HOPE VI revitalization project.

Multi-faceted Innovative Affordable Housing Strategies
River City Housing tries to place its work in the context of a broader affordable housing strategy for Louisville Metro. "We are rightly proud of our work to provide affordable homeownership opportunities, but frankly, lots of folks who need housing simply do not make enough money to even consider homeownership," said board Vice-President Nate Hollingsworth. "The affordable housing shortage we face has to be addressed using multiple tools." River City Housing will continue to develop and implement innovative strategies, taking into account social, community, and market changes, to fulfill its mission to increase the availability of affordable housing in the Louisville Metro area.