One of the largest housing developments to be built in Woodford County held its official grand opening this week. Wooldridge Gardens, a 305-unit residential community that includes apartments, townhouses and single-family homes, is now largely complete.
The $57 million complex at 210 Abbey Road in Versailles offers a diverse range of properties to meet the demands of an increasingly tight rental market in Lexington and in the surrounding counties. Rents in Lexington and the surrounding area have skyrocketed in the past few years. One recently released report showed year-over-year rents had increased by 40% in Lexington alone. Wooldridge Garden consists of: 156 apartments 80 homes 69 townhouses.
All but 18 of the townhouses are now completed. Anderson Communities is still taking applications for those townhouses. The rest of the complex is 99% rented, according to Anderson Communities officials. Tours and leasing information can be obtained by calling 859-251-4406.
The townhouses are two and three bedroom and rent from $1,523–$1,626, according to Anderson Communities.
Versailles Mayor Brian Traugott said the area needs more rental options. “This new neighborhood not only provides valuable housing options for our citizens, but is also emblematic of the well-planned, high-quality growth our community strives to achieve,” Traugott said. Wooldridge Gardens also has free WiFi, a gym, pool and will soon have a dog park, said Dennis Anderson, president and CEO of Anderson Communities. “All of Central Kentucky, and Versailles in particular, is experiencing a housing shortage with no definable end in sight,” Anderson said. “Residents of Woodford County have had very few quality rental options over the last decade. Anderson Communities has invested $57 million in a clean, safe, and high-quality community with Wooldridge Gardens, directly addressing an urgent housing need in Woodford County.”