By Piper Hansen – Reporter, Louisville Business First
Sep 11, 2024
Construction has begun on a new East End residential development.
Denton Floyd Real Estate Group has begun work on what it's calling its first luxury multifamily community.
Called "The Sterling," the 278-unit Class A, multifamily apartment complex will open near the Paddock Shops in August 2026.
Located at 4805 Olympia Park Plaza, the apartment building will have one and two-bedroom units, with sizes ranging from 718 to 1,130 square feet and prices starting at $1,996 and increasing to more than $2,565 a month depending on size.
"With luxury apartment communities under development in both Indiana and Kentucky, we are excited to bring Denton Floyd's first luxury multifamily community to Louisville," said Denton Floyd co-founder and partner Tommy Floyd in a news release. "Louisville, particularly the East End, is experiencing rapid growth, and we are proud to contribute to the vibrant development in this community."
According to the news release, amenities at the property include a "resort-style" heated pool, clubhouse, fire pits, grilling stations, 24-hour fitness center, dog park and pet spa, market, small office spaces, electric vehicle charging stations and a bike storage room.
Last August, Louisville Business First reported the Jeffersonville-based developer had purchased 7 acres for just over $6 million. TRIO Commercial Property Group was the sole broker on the land acquisition.
Denton Floyd's Director of Marketing Sarah Nollner declined to disclose the developer's total investment on the development.
Nollner said in an email The Sterling's construction loan and equity partner is Phoenix Capital Management.
Denton Floyd has completed multiple developments across the Louisville Metro area, Indianapolis and in other nearby states.
The development company is working on projects in Elizabethtown and Bowling Green, Kentucky, and in Clarksville and Charlestown across the Ohio River in Southern Indiana. It also sold an apartment development in Jeffersonville, Indiana, last year for north of $50 million.
Since 2012, Denton Floyd has grown its development and management services to encompass over 13,000 units in six states.
It is one of the area's largest private companies, reporting more than $144 million in revenue in 2023, according to LBF research. It ranked No. 19 on LBF's 2023 Fast 50 list, with three-year revenue growth of nearly 131%.
The company also appears on LBF's list of largest general contractors and fastest-growing private companies.
