LOUISVILLE, Ky. — LDG builds large apartment complexes in several states, but it's difficult in the company's hometown.
"The development process in Louisville is broken," Michael Gross, the LDG development director in Kentucky, said.
He struggles against unpredictable project timelines and difficulties getting approval. That's a problem when building material prices and interest rates for loans grow.
It takes LDG nearly one-and-half to two years just to get a shovel in the ground on any given project. At The Prestonian, an apartment complex under construction at South Clay and East Gray streets, it took eight years.
"Developers aren't happy with it. The public's not happy with it. Council members aren't happy with it," Council President Markus Winkler said.
He agrees, development takes too long. In part, pushback from citizens during building approval slows the process down. It's happened to LDG too.
"Really what people are expressing though is concerns for, 'Have we made adequate investments in traffic capacity,' okay? 'Have we made adequate investments in sewage capacity?" He said.
So he formed the Land Use Committee. They're addressing a shortage of over 30,000 affordable places to live.
"I fully anticipate it's gonna be more than that with the updated numbers. So to me, that is our challenge," Councilman Andrew Owen, the chair of the committee, said as their conversations kicked off.
At the first meeting, the Office of Planning and Design recommended a focus on middle housing—a Goldilocks solution that's slightly larger than single-unit homes but much smaller than apartment complexes. Something like what's commonly seen in Old Louisville, where three-to-six homes are in the same building.
Currently, zoning doesn't allow for that type of construction. Councilman Anthony Piagentini expressed concern over too much rental property.
"And I want to focus on home ownership," he said.
The committee also considered changes to zoning—the way land is regulated in the city—to encourage more building in certain corridors.
"Our housing issue is a supply issue," Gross said.
Meaning it takes more to keep the price down.
The Land Use Committee meets again March 21. An updated housing needs assessment releases next week.
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