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LOUISVILLE, Ky. (WDRB) -- A plot of land in southeast Louisville will be transformed into a multifamily apartment complex.

The property at 6512 Billtown Road, adjacent to the Gene Snyder Freeway, was purchased by the Toronto-based Highgates Group for $925,000, according to our partners at Louisville Business First. That's just outside Fern Creek.

Joseph Waldman, founder and CEO of the development firm, said the goal is to create a "garden-style apartment complex" of three-story apartment buildings with surface parking.

LBF reported the complex is still in the planning stage and needs more zoning approvals. 

Waldman told LBF he chose the property because it's in an area with a shortage of apartments.

"There's a need for diversity of housing, and I really believe that it's going to be a tremendous success for the neighborhood and for the people and for Highgates," he said.

Highgates is behind a handful of other developments in the Louisville and southern Indiana areas, including the 5604 Apartments, Cedar Creek Flats in Fern Creek, the Glengrove Apartments in Valley Station and the Lancaster Lofts in New Albany. The group is also developing The Villages at Floyds Fork, reported in September by LBF.

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