LOUISVILLE, Ky. (WDRB) -- The Beecher Terrace revitalization is getting a $4 million boost.
Louisville Mayor Greg Fischer announced the city's fourth Choice Neighborhoods grant for the Russell neighborhood on Friday. The additional money will help cover increased housing costs for Beecher Terrace residents, who are expected to start moving back into the new housing in the fall.
"I am a resident of Russell, a longtime resident. And we have seen a decline in property values and the abandonment of property for years, and this is the beginning of an initiative toward restoring our values," says Manfred Reid, Sr. from the Louisville Metro Housing Authority Board.
Louisville won its $29.5 million Choice Neighborhood grant in 2016 from the Department of Housing and Urban Development. That money began the process of replacing the old housing complex with affordable units for mixed-income individuals and families. Previous grants helped provide support services for residents including case management, job training, and health assistance.
Rep. John Yarmuth says Louisville's use of money from HUD's Hope VI programs is a national model for success in improving infrastructure, schools and services. "The revitalization of Beecher Terrace is key to helping bridge the 'Ninth Street Divide,' and I'm glad that local residents have been on the front lines of this initiative to reimagine and reinvest in one of the most historically and culturally rich parts of our city," he says.
Construction at Beecher Terrace broke ground in March.
Phase one is a senior building. Crews are finishing the roof. Inside, workers are completing electric and plumbing. The elevator is getting installed. Soon, they will turn on temporary heat in order to start hanging drywall and completing finishes.
Phase two will be residential buildings. Demolition of the old buildings is completed. Three of the new buildings have wood framing. Crews are in the process of framing three other buildings and laying concrete slabs on eight other buildings before framing can being.Â
The first two project phases are scheduled to be completed by the fall.Â
Under terms of the additional grant, the Metro Housing Authority will get an additional two years to complete all 758 housing units. The entire project is scheduled to be complete by 2025.
Related stories:
- New Beecher Terrace development to keep its name after public vote
- Last Beecher Terrace resident moves out amid redevelopment plans
- Construction begins on senior apartments to replace Beecher Terrace complex
- Phase one of $29 million Beecher Terrace transformation to start soon
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