Located at the corner of Chestnut and Third streets, the Henry Clay Building dates back to 1924. Originally developer Lee Weyland said the plan was to convert the building into a hotel but changes to the economy made an apartment building a more appealing option. Weyland was quoted by WDRB News as saying:
"We were going to go the hotel route. But given where the current economy is, current conditions with interest rates and potential tariffs, we felt it was a safer option to focus on housing."
Banner printing services are frequently engaged to advertise rental units even before they are available.
The building was originally constructed to house the Louisville Elks Lodge. Considering the era in which it was built, it offered some high-end luxuries such as billiards rooms, bowling alleys and a basement pool. Much of the buildings original architectural features remain, including the original chandeliers, and vintage mail chutes and century-old pillars.
Following nearly two decades of being vacant, Weyland Ventures bought the building in 2005. According to Weyland, the property will be transformed into 33 market-rate apartments along with several ground-level storefronts.
The project which is expected to cost $7 million is anticipated to commence construction this summer and will take about 16 months to finish.