Business First, January 8,2025
More housing is coming to Shepherdsville.
Poe Companies broke ground on a 49.5-acre multi-family development off of Saltwell and Bel Lick Road in Bullitt County in November, Poe President Hank Hillebrand told Business First.
The 633-unit Saltwell Springs complex will feature 528 apartments, including 324 one-bedroom, 180 two-bedroom and 24 three-bedroom units, Hillebrand said. The property will also be include 88 townhomes — 66 of which will be two-bedroom and 22 of which will be three-bedroom — and 17 single family homes.
The project will also feature a clubhouse, pool, splash pad, dog park, walking path and a man-made lake. It will be located on a new street called Saltwell Springs Boulevard.
The entire project is expected to be completed in 2028, with units coming online as early as the end of this year, said Hillebrand, who declined to disclose the cost of the project.
Saltwell Springs comes more than a decade after Poe developed The Reserve at Thomas Glen Apartments, a 192-unit complex in Shepherdsville. Hillebrand said the success of that project is a big reason why the firm is again setting its sights on Bullitt County.
“We’ve got all the class-A amenities that modern apartment complexes have now, with a really nice clubhouse, a great gym, resort quality pool, splash pad, playground, areas to hang out and fire pits,” Hillebrand said. “We like [the project] just because of the sheer fundamentals. Bullitt County and Shepherdsville proper has really grown a lot in the last 15 years and they haven’t see a lot of apartment supply. So, we feel confident in our ability to deliver here.”
Poe is one of the leading developers in Louisville, producing projects such as the Louisville Marriott Downtown and the Hotel Distil and Moxy. Poe also is the developer of the Waterside at RiverPark Place residential community, which debuted a $24 million expansion in 2019 off River Road. The firm also developed a warehouse complex at 1231 Durrett Lane that e-commerce giant Amazon.com Inc. uses as a last-mile delivery station.
The Saltwell Spring project is located in an Opportunity Zone, which provides federal economic development incentives, such as tax benefits to investors in the project. Poe previously developed the 434,000-square-foot Stellar Snack facility in an Opportunity Zone at 1391 Dixie Highway, Hillebrand said.
Weber Group is the general contractor on the complex, while LD&D is the civil engineer and Harold Cox is the architect, Hillebrand said. Financing for the project was provided by Central Bank and Trust.
He wasn’t sure how many construction workers the project would employ and said it’s too early to know monthly rent rates for the units.