Community Foundation of Louisville announces future use of vacant properties
LOUISVILLE, Ky. (WAVE) - The Community Foundation of Louisville announces the decision about the future use of vacant property Wednesday.
The property is located at Preston and Finzer Streets.
According to the foundation, two local non-profits will be getting new homes.
One of the nonprofits, the Louisville Association for Community Economics (LACE), plans to establish a cooperative grocery store on the property by the end of next year.
The organization, Rebuilding Our Urban Neighborhood Dwellings known as Rebound, plans to use the property to revitalize the neighborhood and to assist people who are seeking homeownership.
Executive Director of Rebound said, “Our goal to create and facilitate the creation of community land trust is to begin to access and gain land so that the residents in these communities can make the choices of what they actually want in their particular neighborhoods.”
The land, valued at nearly one million dollars, was initially given to the Community Foundation in 2015 by Hillerich & Bradsby Company to enhance the lives of Smoketown residents.
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