LOUISVILLE, Ky. (WDRB) -- A pair of new housing developments could bring 115 apartments near downtown Louisville.

The Downtown Housing Assistance Loan Fund approved $1.92 million for two projects.

The first project is in the Audubon Building on Lytle Street in the Portland neighborhood. Developers plan to turn it into 71 apartments, along with 37,000 square feet of commercial space. The project received $1.4 million in gap financing, according to a news release.

The second project, which received $518,806 in financing, is at Myers Hall, the former home of the University of Louisville School of Dentistry on East Broadway. Plans include converting the building into 44 efficiency apartments. 

"We know that to get more people Downtown, we need more housing opportunities," said Rebecca Fleischaker, executive director of Louisville Downtown Partnership. "These loan funds are critical dollars that can help close the gap and make a project come to fruition; we hope to help more projects like this in Downtown."

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