flexiblefullpage - default
Currently Reading

Coronavirus Threatens $35 Million Redevelopment Project in Kentucky

billboard - default

Coronavirus Threatens $35 Million Redevelopment Project in Kentucky

April 1, 2020
Kentucky Bridge
Image by Craig McCourt from Pixabay

The Department of Homeland Security may have declared construction an essential business, but the stay-at-home orders shuttering many restaurants and local businesses threaten the redevelopment of some of America’s poorest neighborhoods. In Louisville, Kentucky, the Portland neighborhood was gearing up for a revitalization: Gill Holland’s Portland Investment Initiative renovated millions of dollars worth of buildings and even commissioned the neighborhood’s first multifamily development in a generation, which rang in at $3 million. But now, Mr. Holland is worried that some of the over 60 properties he bought will remain empty as the restaurants and residents he courted are facing unprecedented times. 

Until the coronavirus pandemic, Gill Holland spent six years and $35 million constructing new residences and renovating 19th- and 20th-century warehouses in Portland, a historic neighborhood on the Ohio River that is Louisville’s oldest and one of its poorest.

Mr. Holland’s Portland Investment Initiative had bought more than 60 properties and filled them with businesses and residents new to the racially diverse neighborhood, where roughly 10,000 people live.

The project, the largest real estate investment in Portland in at least a century, is awakening civic energy that has been dormant for decades.

But its momentum is threatened by the coronavirus outbreak. Gov. Andy Beshear closed sit-down service in Kentucky restaurants and bars on March 16, and issued a separate closure order for other businesses nine days later.

Read More


Related Stories


Aging in Place: My Aunt Nancy’s New ADU

An apartment addition for an accessory dwelling unit to allow a family member to age in place presents several challenges and lessons learned for both the homeowners and contractor alike

Housing Markets

Average Homebuyer Income Increased Considerably in 'Pandemic Boomtowns'

Remote workers moving to Boise, for example, have raised the average annual income of homebuyers by 24%, to $98,000

Housing Giants

What Now for Residential Construction? The Housing Industry Post-Pandemic

The COVID-19 pandemic is essentially over, but the disruption to the housing industry that lies in its wake will be felt for years to come

boombox1 -
native1 - default
halfpage2 -

More in Category

native2 - default
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.