LOUISVILLE, KY (WDRB) -- It is a place where residents can live near water and a park, already a $25 million development with plans for much more.
It has been in the planning stages for almost a decade. But it won't be much longer before the first residents of the River Park Place Development move in.
"We'll start moving people in during January in the first part of the building that will be done," says River Park Place developer Steve Poe, who took WDRB News on a tour of the new building on Wednesday.
Construction of the four-story, 167-unit apartment building continues, with as many as 200 construction workers still on the job getting the building ready.
"We call it an urban-suburban development," says Poe, "our connection to downtown, our connection to East Market. We look at this as an urban project that is fortunate to be located in a park."
That park is Waterfront Park, so many of the apartments will have a view of the river and the downtown skyline. "We've leased more than half of the units already," says Poe, "we are leasing four to six units a week."
The apartments are one or two bedrooms with 14 different designs to choose. Rent begins at $695 a month and climbs to $1,950, depending upon the unit and its design.
"We have some empty nesters who are fifty-plus," explains Poe, "but the bulk of our residents are just what we thought they would be, twenty and thirty somethings who live and work downtown or are medical students at the University of Louisville."
The apartments have underground parking and elevators.
The one building about finished is expected to be the first of many on the 42-acre development that someday may include high rise apartments, condos, shops and restaurants.
"What we plan to do over the next ten years is build what the market is demanding, and right now the market is demanding apartments," says Poe.
He says plans are to begin construction on a second apartment building sometime during 2013.
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