Manufactured Housing Industry & City Leaders Unite to Address Housing Affordability
In a groundbreaking initiative to tackle Central Kentucky's housing challenges, the Kentucky Manufactured Housing Institute (KMHI) announces a pioneering collaboration with Champion Homes and the City of Versailles. This innovative partnership emerged from a dedicated year-long task force, spearheaded by members of the Versailles' City Council, with significant contributions from KMHI Executive Director Logan Hanes and other community leaders. The task force's vision culminated in a unanimous city council approval to showcase a modern manufactured home on city-owned property—a creative solution to address the critical shortage of available housing inventory.
"This partnership exemplifies what can be achieved when local government and industry leaders work together to solve community challenges," said Logan Hanes, Executive Director of KMHI. "We're particularly grateful to Champion Homes, the City of Versailles leadership, Bluegrass Home Center, and our community partners for transforming this vision into reality."
Before becoming someone's permanent residence, this showcase home will be open to the public, highlighting the exceptional quality, advanced safety features, energy efficiency, and versatile design options available in modern manufactured housing. This initiative demonstrates how factory-built homes can provide an immediate, attractive solution to Kentucky's housing needs.
Photo Gallery
Home Price
- 3 Spacious Bedrooms
- 2 Baths
- Large Open Floor Plan
- Two Covered Porches
- Granite Countertops
- Refrigerator, Dishwasher, Oven, Cooktop, Microwave
- A Large Lot With a Great Location Near Downtown Versailles
- Over 1700 sq. ft. of livable space
Price = $249,900
Take a Virtual Walkthrough
Purchasing Process
Rather than a bidding process or a first-come/first-served basis, the home will be sold through a lottery process. All individuals who have submitted qualified pre-approval letters by June 26th will have their names put in a hat. The individual who will be eligible to purchase the home will have their name drawn on June 30th, 2025.
To schedule a time to view the home or discuss details on the offer needs, deed/buying restrictions, and lender requirements, call or email Logan Hanes.
For further details, reach out at: LHanes@kmhi.org | 502.223.0490
Buying Criteria & Features
We know that there will be many who, after walking through this home and seeing the quality firsthand, will want to call it home! So that we can stay in line with the mission of the task force and the intentions of showing how we can address the housing crisis, the task force has created specific criteria for the potential buyer(s). Those restrictions are:
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- Deed restrictions:
- Household income at or below 120% of the Area Median Income (see breakdown below)
- Cannot be used for a short-term rental property
- Cannot be used for a long-term rental property until January 1, 2045
- To ensure future availability, the home's resale value will be adjusted to match the inflation rate as measured by the FHFA Price Index, ensuring its value reflects current market conditions. This restriction will last for ten years beyond the purchase date.
- Deed restrictions:
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- Buying restrictions:
- Buyer must be able to qualify for and utilize a mortgage
- The loan must be a Fannie Mae or Freddie Mac “Choice Home” or “MH Advantage” program. (Reach out to Logan Hanes for details.)
- Buying restrictions:
Floor Plan
Financing Options - Get Pre-Approved
For questions about what will be required of the lender, reach out to Logan Hanes, KMHI Executive Director, at LHanes@kmhi.org
For Additional Information:
For any questions a reach out to Logan Hanes, KMHI Executive Director, at LHanes@kmhi.org.
Also, for a Homebuyer's Guide, see below.
