Apartments planned for old Fiscal Court building in downtown Louisville

LOUISVILLE, Ky. (WDRB) -- The planned conversion of the old Fiscal Court building in downtown Louisville calls for 106 apartments partially subsidized by a city fund meant to help turn office space into housing.

Officials announced Tuesday that Metro government will spend $3 million from the fund to help developer Weyland Ventures renovate the 10-story art deco building off 6th Street into a mix of studio and one- and two-bedroom units, including "affordable housing."

Mayor Craig Greenberg's administration gave Weyland development rights in early 2024 to the city-owned site, which still houses a Jefferson County Sheriff's office.

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Weyland could begin construction by the end of the year, said Mariah Gratz, the company's CEO. The building is "positioned in the ideal location to connect the cultural and tourism activities on Main Street with the hospitality and restaurants along 4th Street and the revitalization of Louisville Gardens," she said.

In seeking a development plan for the building, the city preferred uses that could include retail, hotel and entertainment venues. But Gratz said a "purely residential" use is the most practical because of a layout that would make it challenging for retail and restaurant tenants.

Besides the $3 million from the building conversion fund, she said the $28 million project will be financed with historic tax credits and debt and equity sources.

The Weyland project is the first to receive those city monies, which were part of a $100 million allocation from state lawmakers last year. In all, 19 projects have applied for the funds, Greenberg said.

"This one was chosen to go first because it is very close to being ready to go," he said.

So far, the Greenberg administration has dedicated just under half of the $100 million for the Community Care Campus ($22.5 million); the LOUMED medical district ($10 million); the Gardens renovation into entertainment soundstages ($10 million) and the Fiscal Court project ($3 million).

The money also can be used for other vacant lots downtown that are part of Greenberg's redevelopment plans, as well as for renovations to the Belvedere and work building up a stadium district near Lynn Family Stadium in Butchertown.

Asked about how much could be spent on other housing units in office buildings, Greenberg said: "There's not an exact number, because it depends on which projects, other projects, among that $100 million happen."

Rebecca Fleischaker, executive director of the Louisville Downtown Partnership, told reporters that she believes there will be "a couple more of those announcements," referring to the housing fund.

"I've been harping on this for over a year," she said. "We need more people living downtown, so being able to see this be announced — and I'll be more excited when I see shovels in the ground later this year — it just means so much so much for the future vibrancy of downtown."

This story may be updated.

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