Louisville council to consider Centennial Valley amendment for up to 104 affordable units
The proposed July 21 action would allow permanently affordable multifamily housing on a 2.8-acre parcel, but separate project approvals and financing remain ahead.
Louisville City Council is scheduled to consider July 21 an amendment that would allow up to 104 permanently affordable apartments on a 2.8-acre Centennial Valley parcel.
The amendment covers Lot A of Centennial Valley Business Park Filing No. 8, at 365 Centennial Parkway and 0 Dyer Road. The parcel is designated for commercial development. The amendment would allow multifamily housing only if every unit is permanently affordable through deed restrictions, with a maximum density of 37 homes per acre and a maximum height of 45 feet. The ordinance and Planning Commission record show that the commission held a public hearing June 11 and recommended approval without conditions.
The council item remains proposed, not adopted. The ordinance has blank adoption and signature fields, and the council presentation lists July 21 as the meeting date and recommends approval.
Approval would clear a land-use hurdle but would not approve a specific apartment project. A future proposal would require separate review and public hearings under the Louisville Municipal Code. The materials do not document final site-plan, traffic, public-works, design-review or building-permit approvals.
The concept presented to the city calls for about 100 family-oriented rental apartments in one building: 65 one-bedroom, 24 two-bedroom and 11 three-bedroom units. The application materials say the units would serve households earning 30% to 80% of area median income, with an average income below 60% of AMI, and would have one surface-parking space per unit. The proposed 100 units are below the 104-unit maximum allowed under the amendment.
The city is coordinating the amendment with property owner Koelbel and Company as part of a land-banking grant partnership and an anticipated Low-Income Housing Tax Credit application in August 2026. Those are financing steps, not evidence that funding or tax credits have been awarded. The application materials say the homes are not expected to be delivered by the end of 2026.
A broader traffic study was still in final review in the council materials. Preliminary staff findings indicated residential development would produce fewer morning and afternoon peak-hour trips than office development. The timing of any site review, financing award, construction or completion remains unresolved.