McCormack Baron Salazar is honored to be part of the Vision Russell Choice Neighborhood team alongside our partners at the Louisville Metro Housing Authority, Louisville Metro Government, and, most of all, the residents of Russell and Beecher Terrace. We recognize how hard everyone has worked to form Vision Russell as the strong foundation on which to carry out Russell’s transformation plan, and we are thrilled to be selected as the Master Developer for the Housing portion of that plan.
McCormack Baron Salazar has a history of working in Russell, and we are thrilled to be returning to the community. In 1986, we rehabilitated and converted several historic homes in the 2100 block of West Chestnut to much-needed multifamily rental housing and built new infill construction for a total of 41 new for-rent apartments in Russell, called Chestnut Manor. And in 1991, McCormack Baron Salazar, financed by a local Louisville bank Citizens Fidelity (now owned by PNC), constructed 150 new apartments, a community management space, and a pool at Hampton Place with a 70% affordable/30% market rate mix in rents.
We are proud to have contributed to attracting new investment within the neighborhood as a result of these activities. From single-family renovation to new construction, we have watched as adjacent blocks in Russell have received infusions of new capital and investment. We look forward to continuing this work with the Choice Neighborhood effort.
The vision and principles guiding the Russell Choice Neighborhood Transformation Plan are very much in concert with the McCormack Baron Salazar philosophy and work over the past 40 years. We believe housing is a platform for investments in people and neighborhoods that achieves transformative results.