Park DuValle Revitalization

Fact Sheet

Total Cost and Funding:

Approximately $200 million; 50/50 private/public funding. The sources of the funds include investor capital from the sale of low-income housing tax credits, public housing resources, and Community Development Block Grant funds from the City of Louisville.

1995:

1996:

$31.4 million Special Development Funds

$20 million HOPE VI
$14.8 million HAL Development Funds
$9.9 million HAL Comp Grant

Project Partners:

Private lenders and investors, the Louisville Metro government, Louisville Metro Housing Authority, and U.S. Department of Housing and Urban Development.

Completion Timeline:

8-10 Years

The first HUD grant was made in October 1995
The Oaks was launched in October 1996 and completed in the spring of 1998
Phase II infrastructure work began April 1998
Phase II marketing and leasing application began Fall 1998
Rental occupation began First Quarter 1999
Rental unit construction complete
New home construction near completion

Total # Housing Units:

Approx.1,213: 613 rental; 450 homeownership; 150 off-site units

Target Markets:

New housing will be available to buyers and renters of all income ranges throughout the metropolitan area.

Park DuValle Phases***

	RENTAL	H.O.
Phase 1	100	0
Phase 2	213	147
Phase 3	108*	60
Phase 4	192	243
	613	450

TOTALS:	Homeownership	450
	Off-Site	150**
	Rental	613
		1213

*Includes:	59 unit elderly building
	19 unit multifamily building
	30 multifamily townhomes

**Net new units of rental or homeownership somewhere in the County.
***These numbers are approximate and may vary somewhat as we develop each phase.