Mayor Greg Fischer joined developer Bill Weyland of City Properties to unveil eight new units of various sizes, two of which have been sold. The prices of the units range from $100,000 to $430,000.
“There’s lots of home choices here, whether it’s rental or ownership from all income levels and walks of life. So you can have a medical student living here, you can have a single mom with some kids, you can have an MD from the hospital over here, so there’s choices for everybody. And that really is what makes good vibrant street life,” said Fischer.
Liberty Green is a mixed-income development that also includes government subsidized units. It replaced the old Clarksdale public housing complex. The East Market area has been developing both in business, with the University of Louisville’s Nucleus developments, and with various restaurants that have popped up forming NuLu area of downtown.
Fischer said the Liberty Green development will spur more investment in the area.
“You look for economic impact. That means is the market responding well so you can see the tens and ultimately hundreds of millions of dollars that are going into the development here of the housing units themselves. But also the spin off investment that comes from them in terms of restaurants and entertainment venues,” he said.
Weyland said City Properties will continue its building in the area and he expects to have 32 new for-sale housing units in the area in the next few years. More recently, the development group is constructing a mix-use development across the street from the eight current units. This development will have nine rental apartments and three retail spaces downstairs, said Weyland.