OWENSBORO, KY (WFIE) - Plans for more affordable housing in the downtown area are progressing.
We spoke with officials on Wednesday to discuss a new apartment complex in Owensboro.
“We’ve got recreation and retail which is fantastic," Ed Ray the Chief Operating Officer for Gulfstream said. "And now it’s time to get people living in our downtown.”
And now that seems to be finally happening. With luxury housing already an option downtown, millennials and small families are the target for more attractive housing pricing downtown.
“A price point where it’s attractive to families and seniors and millennials and all the people that really would have an interest in walk-ability of downtown," Ray said.
But after the newest parking garage opened, the city and Gulfstream realized there’s still a problem. With only about 260 parking spots open in the garage, and adding 160 apartments plus a hotel- there just needs to be more parking.
“Real estate and the construction cost are simply too high to also incorporate parking into that business plan,” Ray said. "So it just won’t happen without the municipal help to make parking available for a variety of reasons.
Gulfstream says the public private partnership between them and the city is key to making the parking work downtown.
“To have a robust downtown you need the retail, you need the recreation, you need the restaurants, you need the residential," Ray said. "And that’s what our goal is to work with the municipalities and to make that happen for downtown Owensboro.”