The Village @ West Jefferson holds groundbreaking in the Louisville Choice Neighborhood
February 3, 2020 | McCormack Baron Salazar
LOUISVILLE, KY (February 3, 2020) — The Village @ West Jefferson (“The Village”), a new 30,000 square foot, two-story, mixed-use retail and office development in the historic Russell Community, held a groundbreaking event on Tuesday January 28th. Construction of The Village will begin this month and be completed by the end of 2020 at the intersection of Jefferson Street and 12th Street.
The developer, MOLO Village Community Development Corporation, is excited to bring a new retail and office building to Louisville’s Russell neighborhood. “For us, it’s about bringing economic development and jobs into the community at a key location. The Village is ideal for any business that is searching for a location very near to our vibrant downtown and within a neighborhood eager to support new dining, shopping or service operations” said Rev. Dr. Jamesetta Ferguson. Dr. Ferguson also serves as the Senior Pastor of St. Peters’ United Church of Christ. The project has received comprehensive support from the UCC Church Building and Loan Fund (CB&LF). The project is one of the first of its kind in the country supported by the fund. According to Rev. Dr. Patrick Duggan, Executive Director of CB&LF, “We are proud to have provided the funding and expertise to support small, but deeply impactful groups like MOLO, lead community-driven development projects.”
Local support of the project is strong as expressed by Mayor Greg Fischer. “The Village @ West Jefferson is an example of the community-led development we are encouraging in Russell and surrounding neighborhoods. As investment dollars flow into west Louisville, it is critical that residents not only have a voice but also play a role in their neighborhoods’ transformation,” the Mayor said. “The city congratulates MOLO Village Community Development Corporation on reaching this milestone.”
Funding partners for The Village include McCormack Baron Salazar Urban Initiatives CDE. The organization provided a NMTC allocation to help finance the construction of The Village. “The Village will be vibrant community asset in the heart of the Russell neighborhood,” said Laurel Tinsley, CEO of MBS Urban Initiatives CDE. Tinsley wants the community to know that “The Village will be a welcoming place to seek a variety of essential community goods and services, in addition to being a hub to connect the community to job training, medical services and wrap around social services designed to help residents of Russell thrive.”
Joining Laurel Tinsley to describe their investment in the project is Thom Oldenburg, Vice President Business Development U.S. Bank. “U.S. Bank is proud to be part of this project and play a role in the transformation of the Russell neighborhood,” said Thomas Oldenburg, business development officer with U.S. Bancorp Community Development Corporation. “We’re excited it’s being driven by community-based organizations and will make much-needed services more accessible to local residents. When the private and public sectors work together, we can help close the gap between people and possibilities and that has a meaningful and lasting impact in our communities.” said Oldenburg. Additional funding partners include the James Graham Brown Foundation, Gheens Foundation, Louisville Metro Housing Authority and Louisville Metro Government.
Mayor Greg Fischer, a representative from the office of Congressman John Yarmuth, members of the Louisville Metro Council and other dignitaries attended the event.