Louisville officials OK development with affordable housing

Kentucky
A HC-144 USCG Ocean Sentry passes by the city skyline during the Thunder Over Louisville air show Saturday, April 17, 2010, in Louisville, Ky., to begin the Kentucky Derby Festival of events, which ends with the 136th running of the Kentucky Derby on May 1. (AP Photo/Brian Bohannon)

A HC-144 USCG Ocean Sentry passes by the city skyline during the Thunder Over Louisville air show Saturday, April 17, 2010, in Louisville, Ky., to begin the Kentucky Derby Festival of events, which ends with the 136th running of the Kentucky Derby on May 1. (AP Photo/Brian Bohannon)

LOUISVILLE, Ky. (AP) — Louisville officials have given the thumbs-up to a proposed tax increment financing district to support a proposed mixed-use development with affordable and market-rate housing and a hotel.

The Courier-Journal reports the proposal was approved by the Labor and Economic Development Committee this week and is expected to be taken up by the full Metro Council next month.

Development officials say construction on the $115 million project could begin early next year.

The proposal calls for a 130-unit hotel, 295 market-rate housing units, 60 units of affordable housing, commercial space, and two pocket parks.

Louisville’s affordable housing shortage is estimated by local advocates at around 30,000 units.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

CONNECT WITH FOX 56 NEWS ONLINE

Popular Stories