The construction fence is up, asbestos is out, and crews are set to begin work on a 262-unit, $50 million apartment building in Butchertown. According to the Courier-Journal‘s Sheldon Shafer, Nashville-based developer Bristol Development Group has closed on the property assemblage and has obtained building permits, so demolition crews will soon prepare the site for construction of the so-called Main & Clay development.
Located on a parcel just east of Interstate 65 and bound by East Main Street, Clay Street, and Washington Street, the seven-story building replaces a cluster of one- and two-story buildings and parking lots on its half-block, 1.5-acre site. Several of the buildings are historic and Bristol is rebuilding four of their facades into the new building, a move that angered some preservationists.
Shafer reported that Bristol paid Trompeter Realty Group $4.2 million in July to complete the land transaction. The article added that Metro Louisville will subsidize the project with up to $4.4 million in property tax rebates from a mini-TIF zone.
While some of the old buildings on the site, a local landmark district, are quality examples of Louisville’s disappearing vernacular style from the mid- to late-19th century, their scale has been dwarfed by the enormous Ohio River Bridges Project. Main & Clay’s seven-story stature will help block the freeway and provide needed density for Butchertown and Nulu. One unfortunate detail has been revealed, however: Shafer reported the official name of the building will be “Main & Clay: in Historic Butchertown.” That extra but just doesn’t seem necessary.
Main & Clay will include a mix of one-, two-, and three-bedroom apartments with a few townhouses. According to the C-J:
Rents will range from $900 to $3,500, with an average monthly rental of around $1.600, Carlisle said…Unit size is to vary from 550 to 1,800 square feet. The plan includes 2,400 square feet of ground-level retailing and a 380-space parking structure.
Site amenities will include a clubroom, a courtyard, outdoor kitchen, outdoor pool, outdoor patio social area with televisions and hammocks, a fitness center, a pet spa and a dog walk.
Bristol expects the building’s first tenants to arrive in spring 2017.