LDG Development expands Louisville footprint and announces relocation of headquarters to accommodate growing staff
In two transactions that were finalized earlier this month, LDG Development is expanding its footprint in Louisville and signaling its commitment to helping revitalize downtown Louisville. These developments come after the company closed and finalized plans for 3042 Hikes Lane —a site in Hikes Point that was once the home of St. Barnabas Church and school—and announced plans to relocate its headquarters to The Madrid Building located in downtown’s central business district. These announcements come at a time when the company is experiencing exponential growth and is working to meet the demand communities across the country are experiencing for more high-quality housing options.
“Over the past 24 months, LDG has grown to meet the needs of cities that are experiencing unprecedented demand for a variety of housing options,” said Chris Dischinger, co-founder and co-principal of LDG Development. “The former St. Barnabas reflects this trend and will provide units of high-quality market rate housing in an area that has not seen a lot of significant investment in recent years. As our organization has evolved to help communities meet these challenges, it was clear that we needed a new headquarters that could provide the space and infrastructure needed to appropriately staff our efforts.”
Located at 535 S. Third Street, The Madrid Building provides more than 56,000 square feet of office space. Renovations of the space will begin during the first quarter of 2022, and LDG will initially occupy the second and third floors. The first floor will continued to be occupied by its current tenants until their lease expires in the coming years. Dischinger says that while LDG considered other options for its headquarters, remaining in downtown Louisville was a priority.
“LDG was founded in Louisville and has a strong history of being a part of the downtown community,” said Dischinger. “As we reflected on some of the challenges our city has experienced over the past 18 months, both Mark (Lechner) and I wanted to demonstrate our commitment to helping revitalize the place that both of us are proud to call home, and investing in our downtown seemed like an appropriate way to achieve this goal.”
3042 Hikes Lane provides 9 ½ acres and will house 276 units of market rate apartment homes. The development will include 1-, 2- and 3-bedroom units as well as a two-story club house, a fitness and business centers, a pool and other amenities. Dischinger, who grew up in the Hikes Point area, says that he hopes that this development will spark interest in the area.
“Hikes Point is really an area that could benefit from new high-quality housing options and more investment,” said Dischinger. “With its central location and proximity to shopping, employment centers and other amenities, I believe this community will draw other services to the area.”
Construction on the property is expected to begin during the second quarter of 2022.
In 2022, Dischinger says that he anticipates that LDG will continue to look for more opportunities to provide housing that meets the needs of a neighborhood and believes that a new headquarters will help the company to continue meeting his goal.
“Clearly, LDG is on track to have another record year for producing housing—both affordable and market-rate—that reflects the trends and demands of the market,” said Dischinger. “With a new headquarters we will be able to prove the staff needed to support this trend and ensure that going forward, we will be able to continue to provide housing families are proud to call home.”