Like many other cities, Louisville has experienced unforeseen struggles brought on by the pandemic. However, the city’s commercial real estate market leaders remain optimistic. This is partly due to the surge of online shopping that has spawned growth in the industrial sector, particularly in Louisville.
What’s New?
Sunshine Industries is looking to build a new 172 unit apartment complex on 1007 S English Rd in Jeffersontown. The Stables, as it is named, is pegged to be completed by the summer of 2023.
Hagan Properties is active once again after proposing a 326-unit apartment complex near a recently finished Target store on 12975 Shelbyville Rd. The anticipated completion date has yet to be announced, but this project signals the strong trend of growth in Middletown.
The Westside of Louisville will be getting an upgrade soon with a new residential subdivision coming to the area that will contain 110-single family homes and 99 townhomes. With the pinched housing stock across the nation, Louisville is set to rezone areas like the Orchards to position itself for continued growth.
Kansas City-based Hunt Midwest enters the Louisville market by acquiring 322,000 sq-ft industrial property for $43 million. The logistics center resides in a Class A, mixed-use business park. Hunt Midwest looks to get in with the rapid expansion of industrial centers.
Exciting Projects Transforming Louisville
Louisville developer Underhill Associates have planned to turn the empty downtown Starks building into a mixed-use project. The project is pushing forward in the second quarter of this year, looking to add 260 apartments, a bar, and studio space dedicated to the arts.
The Kentucky homelife building on 239 S Fifth St. in Downtown Louisville will be converted to a mixed-use concept that will include a hotel, urban-style apartments, and a retail space.
Jefferson Development Group seeks $80 million for a new downtown development project. The eight-story building has 348 residential units and a parking garage with 518 spaces. The property is assessed at $4.3 million and will be another move to continue to revitalize downtown Louisville.
Dream Hotel Group is seeking to add to the new projects slated for downtown Louisville with a proposal for a new 10,000 sq. ft hotel on Whiskey Row with 168 rooms and various, separate options for food and drinks. The project is expected to be completed in 2025.
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Kentucky Digest