LOUISVILLE, Ky. (WDRB) -- A once rundown housing complex with a high crime rate is being reborn in downtown Louisville.

The old housing complex will eventually be replaced by 454 new homes as Phase 1 of the project south of east Broadway nears completion.

The effort began several years ago with a $22 million grant used to attract $74 million in additional investment to replace the worn out public housing complex that had one of the highest crime rates in the city.

The new development will be home to families with mixed incomes, including, subsidized housing, low income housing and market rate housing. Some people have already started moving in.

On Monday, city officials, including Mayor Greg Fischer, gathered to mark the opening of the first phase.

"This is the third Hope Six Project for our city," Fischer said. "First there was Park Duvall, and we've seen the tremendous transformation in that community; Liberty Green, we're seeing that transformation at the same time. And each time what we see, we see private investment follow this public investment, with amenities and better quality of life around the projects."

Liberty Green replaced the Clarksdale Homes east of downtown, and Park DuValle was built where the Cotter and Lang complexes once stood in western Louisville.

The entire rebuilding of Sheppard Square won't be completed for another year and a half, around 2015. The total cost of the project is estimated around $100 million.


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