Weyland Ventures Joins Forces with Gill Holland on Big Local Project

Some prominent names in the Louisville real estate world have joined forces for a significant project in the Portland neighborhood.

Weyland Ventures has partnered with Louisville developers Gill Holland and Gregg Rochman to redevelop about 100,000 square feet of vacant warehouse space into a mixed-use complex with apartments and commercial tenants.

The project will be located in multiple buildings at 1409, 1417 and 1427 Lytle Street that are owned by 4 Blokes LLC, an ownership group that includes Holland and Rochman. The property falls in a federally-designated opportunity zone, which allows investors with capital gains to reinvest those funds into real estate and economic development projects in economically distressed areas.

A development plan filed this week with Louisville Metro Government states the property will be transformed into The Audubon, a mixed-use space with 61 apartments, an 1,886-square-foot coffee shop and nearly 40,000 square feet of proposed office space.

Mariah Gratz, CEO of Weyland Ventures, said Holland and Rochman approached her firm about the property knowing its expertise with these types of redevelopments and tax credit financing, which is being pursued alongside traditional bank financing. It is Weyland Ventures’ first project in Portland, and Gratz said she was drawn to the location and the buildings.

No tenants have yet been disclosed for the project, but Gratz confirmed they are in talks with a coffee shop and have an undisclosed commercial tenant lined up for about 11,000 square feet of space.

Holland said the complex is named for American ornithologist, naturalist and painter John James Audubon, who once lived in Louisville.

Gratz said the multifamily component of the project will include a mix of studio, one- and two-bedroom units ranging in size from 550 square feet up to 1,200 square feet. Rent will start around $670 and increase to about $1,300, she added.

Gratz hopes to close on financing for the project later this year, and she said construction will take about a year once it commences.

The development partners are working with Joseph & Joseph Architects and Mose Putney on the design.

Holland, known for his extensive redevelopment work in NuLu, launched The Portland Investment Initiative, or PII, roughly seven years ago as a catalyst for commercial and residential growth in Portland.

Some prominent names in the Louisville real estate world have joined forces for a significant project in the Portland neighborhood.

Weyland Ventures has partnered with Louisville developers Gill Holland and Gregg Rochman to redevelop about 100,000 square feet of vacant warehouse space into a mixed-use complex with apartments and commercial tenants.

The project will be located in multiple buildings at 1409, 1417 and 1427 Lytle Street that are owned by 4 Blokes LLC, an ownership group that includes Holland and Rochman. The property falls in a federally-designated opportunity zone, which allows investors with capital gains to reinvest those funds into real estate and economic development projects in economically distressed areas.

A development plan filed this week with Louisville Metro Government states the property will be transformed into The Audubon, a mixed-use space with 61 apartments, an 1,886-square-foot coffee shop and nearly 40,000 square feet of proposed office space.

Mariah Gratz, CEO of Weyland Ventures, said Holland and Rochman approached her firm about the property knowing its expertise with these types of redevelopments and tax credit financing, which is being pursued alongside traditional bank financing. It is Weyland Ventures’ first project in Portland, and Gratz said she was drawn to the location and the buildings.

No tenants have yet been disclosed for the project, but Gratz confirmed they are in talks with a coffee shop and have an undisclosed commercial tenant lined up for about 11,000 square feet of space.

Holland said the complex is named for American ornithologist, naturalist and painter John James Audubon, who once lived in Louisville.

Gratz said the multifamily component of the project will include a mix of studio, one- and two-bedroom units ranging in size from 550 square feet up to 1,200 square feet. Rent will start around $670 and increase to about $1,300, she added.

Gratz hopes to close on financing for the project later this year, and she said construction will take about a year once it commences.

The development partners are working with Joseph & Joseph Architects and Mose Putney on the design.

Holland, known for his extensive redevelopment work in NuLu, launched The Portland Investment Initiative, or PII, roughly seven years ago as a catalyst for commercial and residential growth in Portland.

Read Louisville Business First’s article here.