LOUISVILLE, Ky. — The Downtown Housing Assistance (DHA LLC) Loan Fund administered by the Louisville Downtown Partnership, has helped to finance two new housing projects in and near Downtown.“We know that to get more people Downtown, we need more housing opportunities,” said Rebecca Fleischaker, executive director of Louisville Downtown Partnership. “These loan funds are critical dollars that can help close the gap and make a project come to fruition; we hope to help more projects like this in Downtown.” The loan fund approved $1.92 million for two projects, leveraging $29 million in new housing developments. The approved housing loans are:
- $1.4 million in gap financing to Audubon Wizard QOZB, LLC for The Audubon building, located at 1409 – 1427 Lytle Street. This mixed-use project, located in the East Portland neighborhood, will provide 71 apartments and over 37,000 square feet of commercial space on the doorstep of Phase IV of Downtown Louisville’s Waterfront Park. The adaptive re-use development consists of a historic group of three masonry and timber warehouse buildings along a brick-paved road, with most of the exposed brick, wood beams, and historic windows preserved.
- $518,806 in gap financing to Myers Hall QOZB, LLC to assist with the preservation and adaptive re-use of Myers Hall, the former home of the UofL School of Dentistry located at 129 East Broadway. The new Myers Hall Lofts will convert the original building, built in 1900, into 44 efficiency apartments in Downtown’s Louisville Medical Education District (LOUMED).
Click here for more Kentucky business news.