LOUISVILLE, Ky. (WDRB) -- A developer says thousands of apartments are needed in southern Indiana to meet the needs of the growing area.
Local developers believe the pandemic has changed the housing landscape and the needs for families. They said housing construction has slowed down and apartment construction has boomed.
LDG Development and Denton Floyd Real Estate Group are partnering to build a 264-unit Garden style multi-family community in a new complex off Veterans Parkway. The upscale apartments will be located at 4501 Town Center Boulevard. The complex will feature one-, two-, and three-bedroom units.
Construction for new apartments in southern Indiana.
Denton Floyd Real Estate is firm leading development from Indianapolis down Interstate 65 to southern Indiana.
"Apartments 20 to 30 years ago are the night and day difference of what they are today," said Tommy Floyd, co-founder of Denton Floyd Real Estate.
Floyd said he's following where people are moving and job growth. He credits southern Indiana's boom in recent years to the development of River Ridge Commerce Center in Jeffersonville.
"There's just a lot of demand and there are a lot of people that like to live in those areas," Floyd said.
Floyd believes southern Indiana is still about 3,000 apartments short of the demand for the growing population.
"Which is a surprise because you do see a lot of units are kind of coming on online but there are a lot of people that like to live in that community," Floyd said.
LDG Development, a Louisville-based firm, is also in a building blitz. LDG has 1,500 units under construction in the Louisville-area and plans to build another 2,000 units.
"Seems like people are looking for maybe a little bigger apartment units than traditional, a lot of it tied to COVID," Chris Dischinger, co-founder of LDG Development, said. "Give me that extra room because I'm working at home or both of us are working from home."
Apartments in southern Indiana.
"The ideal locations are where people work, and where people want to live, you know, near schools, their employment opportunities. Sometimes, housing follows retail and oftentimes retail follows housing. You look for you know, where is there good access to transportation via public roads, or even public transportation such as buses," Dischinger said.
The developers believe Kentuckiana's landscape is changing.
"We should be excited about the tourism, the job growth, the really the advancement of downtown. If you'll hang on for the next 10 years, you're going to see them all it's going to be one of those communities that everybody's talking about, much like Nashville or Austin, Texas," Dischinger said.
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