$81 million Apartment Development proposed near Ballard High School

The $81 mil­lion project has been pro­posed on 19 acres Hagan Prop­er­ties has owned for years at 2020 Herr Lane near Bal­lard High School in Louisville’s East End.

Hagan Prop­er­ties Inc. on Mon­day unveiled plans for the 520-unit Prov­i­dence Point apart­ments. The $81 mil­lion project has been pro­posed on 19 acres Hagan Prop­er­ties has owned for years at 2020 Herr Lane near Bal­lard High School in Louisville’s East End. The com­plex will house a mix of one‑, two- and three-bed­room units in mul­ti­ple build­ings on the site.August 03, 2020By Mar­ty Fin­ley

Louisville’s Hagan Prop­er­ties Inc. is ready to tack­le one of its most ambi­tious projects to date.

The local real estate devel­op­ment firm on Mon­day unveiled plans for the 520-unit Prov­i­dence Point apart­ments. The $81 mil­lion project has been pro­posed on 19 acres Hagan Prop­er­ties has owned for years at 2020 Herr Lane near Bal­lard High School in Louisville’s East End.

The com­plex will house a mix of one‑, two- and three-bed­room units in mul­ti­ple build­ings on the site. The apart­ments, which will fea­ture upscale ameni­ties such as design­er cab­i­netry and quartz coun­ter­tops, will be joined by com­mu­ni­ty ameni­ties, includ­ing a fit­ness cen­ter, dog parks and green space.

In addi­tion, with the changes that Covid is bring­ing to the indus­try, Prov­i­dence Point will have touch­less access ele­va­tors, UV fil­tered HVAC sys­tems in com­mon areas, flex­i­ble ‘We Work’ style space and many indoor flex areas in the club­house for res­i­dents to use as some peo­ple shift to work­ing more from home, but still need a ‘third place’ for escape from the home office,” Hagan Prop­er­ties Pres­i­dent Wendy Hagan said by email.

Hagan Prop­er­ties will han­dle the devel­op­ment, leas­ing and prop­er­ty man­age­ment for the com­plex while HCC, a major­i­ty female-owned con­tract­ing com­pa­ny led by Wendy Hagan, will serve as the gen­er­al con­trac­tor. Char­lotte, North Carolina.-based Axiom Archi­tec­ture will han­dle the design.

We have been wait­ing for a num­ber of years for the tim­ing to be right to start on this project. While there are many new com­mu­ni­ties under con­struc­tion, we believe that Prov­i­dence Point offers a unique loca­tion and great com­mu­ni­ty ameni­ties such as shop­ping, din­ing and access to schools,” Hagan said by email.

Pro­ject­ed lease rates and a full devel­op­ment time­line have not yet been dis­closed.

Hagan Prop­er­ties said sev­er­al devel­op­ers had unsuc­cess­ful­ly tried to rezone this land before it stepped for­ward.

A pri­or pro­posed devel­op­ment called for 175,000 square feet of retail and office space and hun­dreds of con­dos, but the finan­cial down­turn of 2008 and the cost of off­site improve­ments made that project non­vi­able, the com­pa­ny said.

As part of its pro­pos­al, Hagan Prop­er­ties is plan­ning to com­plete $5 mil­lion to $6 mil­lion worth of off­site improve­ments to pub­lic infra­struc­ture, and the com­pa­ny will pur­sue indus­tri­al rev­enue bonds to pay for those upgrades. Pro­posed work includes con­struc­tion of a region­al basin to serve 88 acres of the area’s water­shed, sig­nal­iza­tion improve­ments and a new traf­fic sig­nal and road improve­ments to Herr Lane, includ­ing the instal­la­tion of an addi­tion­al lane from Wes­boro Road to the new traf­fic sig­nal.

This sto­ried prop­er­ty will sat­is­fy this area’s demand for apart­ments for many years to come and the road improve­ments we are mak­ing will sig­nif­i­cant­ly aid in alle­vi­at­ing the grid­lock that Bal­lard High School expe­ri­ences dur­ing peak hours,” Layson Hagan, a mul­ti­fam­i­ly devel­op­er with Hagan Prop­er­ties, said by email.

Hagan Prop­er­ties has a num­ber of oth­er major projects in the works local­ly.

The firm is fin­ish­ing up the 470-unit Vic­to­ry Knoll apart­ment com­plex on the East End near South­east Chris­t­ian Church, which has been esti­mat­ed to cost $68 mil­lion. Hagan Prop­er­ties also built the 356-unit 9910 Sawyer Apart­ments, a sprawl­ing upscale apart­ment com­plex that backs up to E.P. “Tom” Sawyer State Park.

And the firm is invest­ing about $48 mil­lion into a 344-unit apart­ment com­plex on 19 acres at 8000 and 8006 Cedar Creek Road. About 90% of that com­plex will fea­ture one and two-bed­room units while the remain­ing 10% will be three-bed­room units.

Mean­while, the firm is slat­ed to break ground lat­er this year on The Sta­tion @ Mid­dle­town, a new apart­ment com­plex with more than 300 units near the Mid­dle­town Sta­tion shop­ping cen­ter, which it owns. That project is expect­ed to cost near­ly $50 mil­lion. Hagan Prop­er­ties also owns the Shel­byville Road Plaza and Tay­lorhurst shop­ping cen­ters in Louisville.