Vacant building conversion program to create new housing
A project to revamp vacant downtown buildings in Louisville has recently been announced by the city’s mayor with funding provided by the Kentucky legislators.
The project is part of the city’s “reimagination of downtown Louisville” and will limit consideration of vacant buildings in an area bounded by the Ohio River, I-65, York Street and 10th Street – the city’s central business district. Applications for funding to repurpose vacant buildings will be accepted up to early February with awards being handed out about mid-March.
At first glance, there are around 10-12 buildings that would be a good fit for the conversion program. Proposals for a variety of different occupancies will be considered such as entertainment or retail but mainly the city is looking to increase affordable housing in the area. As Mayor Craig Greenberg explained:
Rental units are frequently advertised prior to being ready for occupancy, and developers turn to banner printing services to help attract renters.
Greenberg says there is no limit on how much could be allotted to each project with a possibility of some receiving “millions of dollars”; however, the city will be prioritizing projects that can be completed within three years.
The project is part of the city’s “reimagination of downtown Louisville” and will limit consideration of vacant buildings in an area bounded by the Ohio River, I-65, York Street and 10th Street – the city’s central business district. Applications for funding to repurpose vacant buildings will be accepted up to early February with awards being handed out about mid-March.
At first glance, there are around 10-12 buildings that would be a good fit for the conversion program. Proposals for a variety of different occupancies will be considered such as entertainment or retail but mainly the city is looking to increase affordable housing in the area. As Mayor Craig Greenberg explained:
“We're very interested in more people living downtown. We're going to give priority to projects that include housing, particularly that includes some affordable housing. These are projects that are really important as we think about creating the 24/7 neighborhood that's growing here in downtown Louisville."
Rental units are frequently advertised prior to being ready for occupancy, and developers turn to banner printing services to help attract renters.
Greenberg says there is no limit on how much could be allotted to each project with a possibility of some receiving “millions of dollars”; however, the city will be prioritizing projects that can be completed within three years.