McCormack Baron Salazar and Louisville Metro Housing Authority Join with Partners to Welcome Home Residents to the new Beecher Terrace
June 9, 2021 | McCormack Baron Salazar
LOUISVILLE – McCormack Baron Salazar, Louisville Metro Housing Authority (LMHA) and Louisville Metro Government (LMG) celebrated the opening of the first and second phases of the multi-phase Beecher Terrace redevelopment. These $31.6 million and $24.7 million mixed-income developments, respectively, were funded in part through $33.5 million in Choice Neighborhoods Initiative Implementation grants awarded in December 2016 and December 2019. Residents and project partners joined to welcome home original residents of Beecher Terrace who were relocated in preparation for the site’s redevelopment between 2017 and 2019, as well as new residents to the Beecher Terrace community. Phase I housing – The 450 Roy Wilkins Building - offers 117 energy-efficient units exclusively for persons aged 55+. Phase II offers 108 townhome, garden style and walk-up apartments for families with a mix of incomes. When completed, the redeveloped community will be home to 640 mixed-income rental units in one, two and three-bedroom configurations, as well as homeownership opportunities.
“The new Beecher Terrace is our mission exemplified. LMHA is setting the standard for excellence in high-quality affordable housing for our community, enhancing the quality of life and working to build stronger neighborhoods,” LMHA Executive Director, Lisa Osanka said of the project milestone. “Having strong partners, committed to improving the affordable housing stock in Louisville, and maintaining a resident-centered approach are the cornerstones of the new Beecher Terrace. Our team is proud of this new beginning and is looking forward to fulfilling our promise to the Russell neighborhood in aiding to create sustainable, transformative outcomes for the community.
The redevelopment of Beecher Terrace as part of the larger Vision Russell Transformation Plan helped to leverage an additional $200 million in public and private investment for the historically significant Louisville neighborhood. Key components of the Transformation Plan include People, Housing, and Neighborhood. Each focus of the transformation plan is supported by a strategic implementation, overseen by the LMHA team or partner agency. Development and property management of the on-site Beecher Terrace units is handled by McCormack Baron Salazar. The People lead, Urban Strategies, Inc., worked to coordinate supportive services and case management for Beecher Terrace families before and during their relocation.
“The grand opening of the new Beecher Terrace apartments is well worth celebrating,” says Richard Baron, Chairman, McCormack Baron Salazar. “It’s been a long year, but through it all, Russell residents have shown resilience and demonstrated their continued dedication to this historic neighborhood. There is great pride and energy in Russell, and we are thrilled that the new Beecher Terrace is a cornerstone of the transformation going on here. We look forward to continuing the work with the community to bridge and erase the ‘9th Street Divide’ with a thriving, vibrant Russell neighborhood.”
Driven by the Russell Neighborhood, LMHA’s Choice Team facilitated more than 100 meetings with neighborhood residents, stakeholders and additional partners including Russell: Place of Promise, Louisville Urban League, Louisville Central Community Centers (LC3), MOLO Village Community Development Corporation, and the YMCA to ensure the Vision Russell Transformation Plan was a truly collaborative and inclusive benefit to the community.
“Today is a great day for residents of Russell and our entire city as we open the first two phases of the newly revitalized Beecher Terrace. The community discussions and planning for this transformational project began shortly after I became Mayor and the project has helped spur more than $1 billion of investment in west Louisville in the years since,” said Mayor Greg Fischer. “Thank you to the people of Russell, our Louisville Metro Housing Authority, the CHOICE team, funders and community leaders. This is what happens when people who share a common goal work together. This work is critical, because it’s not enough to lift up our neighborhoods, we have to lift up our neighbors at the same time.”