LOUISVILLE, KY (WAVE) - OneWest, a community development corporation focused on commercial development growth in west Louisville, is continuing its efforts to drive commercial and retail development in west Louisville beginning with the 18th Street and Broadway corridor.
OneWest has purchased its first property, a vacant single-family home located at 516 South 18th Street in the Russell neighborhood , for $12,000. After rezoning, the property will likely be redeveloped for a restaurant or retail space occupied by a local entrepreneur. OneWest is working with Community Ventures Corporation’s ChefSpace culinary incubator program to identify a potential tenant that is ready to advance beyond the incubator stage to a storefront location.
“This is the perfect location and opportunity for a cluster of locally owned and operated restaurants and shops that will serve local residents and bring visitors to the historic Russell neighborhood,” Evon Smith, who serves as President and CEO of OneWest said in a press release.
The property is directly behind Sweet Peaches Café, across from the Russell Apartments operated by New Directions Housing Corporation, and adjacent to additional vacant properties that may be purchased or leased by OneWest.
“The area from the Kentucky Center for African American Heritage to West Broadway along 18th Street offers significant opportunities for small business," Smith said. "This is a starting point for OneWest and small piece of a much larger, long-term effort to fuel business creation and provide wealth-building avenues for local entrepreneurs.”
The nonprofit’s new and ongoing initiatives are part of a long-term strategic plan to increase opportunities for employment and business development throughout the nine neighborhoods of west Louisville and is in keeping with the feedback from residents regarding development needs and retail desires.