Louisville-based Denton Floyd Real Estate Group has closed on another apartment complex in southern Indiana, the fourth such development across the Ohio River over the past year. The company says it will build a 256-unit complex in Jeffersonville, known as Arbour Place Apartments.
Denton Floyd says there is a 4,700 unit housing shortage in the greater Louisville area, and it is helping to ease the strain by adding apartments in Jeffersonville.
Last week, the company announced plans for a $226 million investment on two multi-use developments in Clarksville that will include 374 units.
In August, the company said it would be build an apartment complex in Charlestown with more than 200 units. The company also has a project underway in Clarksville, called Current812, which also includes more than 200 apartments.
“Our commitment to building quality housing in Jeffersonville is at the forefront of our development strategy. The forecasted job and economic development in Jeffersonville drives local developers such as us to adapt to that growth by providing vital housing to the community,” said Tommy Floyd, co-founder and partner of Denton Floyd. “We are excited that this project will not only be a high-valued asset to the community but will complement its direct neighbor, Lakeside Gardens, another Denton Floyd community.”
The new project, Arbour Place, will be located near Interstate 265, Interstate 65, and the East End and Downtown bridges that lead into Kentucky’s largest city.
It will be located adjacent to another existing Denton Floyd property, Lakeside Gardens.