Aging Lexington apartment complex enjoying a renaissance

mmeehan1@herald-leader.comMarch 19, 2013 

An aging apartment complex on Village Drive off Versailles Road is getting new life thanks to some Louisville investors.

The 120-unit Thoroughbred Crossing apartments have undergone a $2.73 million renovation.

The changes include updated water, electrical, heating and cooling systems, said Michael Rose, marketing manager for owner Denton-Floyd Real Estate Group.

There are new appliances, windows, carpet, flooring, cabinets, countertops, paint, sliding glass doors and blinds.

The parking areas have been repaved, and the exteriors and decks have been painted. A laundry was added for each building, and landscaping was updated.

Rose said 50 of the apartments have been leased in the months since the renovation was completed.

He said the investors hope to continue investing in the neighborhood.

"We've made no secret that we hope to purchase other properties in the area," Rose said. The group seeks to help start a resurgence in the area.

"The property had kind of fallen on hard times," he said, and there was a problem with criminal activity in the complex.

The two-bedroom, one-bath units rent for about $700 including utilities, he said. Before the renovation, the were about $600. The complex accepts Section 8 vouchers for low-income renters.

A small number of the previous tenants have remained, he said, and the complex's management is being careful to rent to people who are interested in being part of the community and maintaining a quality living environment.

"We want people who will take pride in the property and who are happy to be there," Rose said.

Mary Meehan: (859) 231-3261. Twitter: @bgmoms. Blog: BluegrassMoms.com.

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