Louisville Magazine

OCT 2018

Louisville Magazine is Louisville's city magazine, covering Louisville people, lifestyles, politics, sports, restaurants, entertainment and homes. Includes a monthly calendar of events.

Issue link: https://loumag.epubxp.com/i/1033109

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Page 44 of 144

liveinlou.com 42 LOUISVILLE MAGAZINE 10.18 franchise development as a way to encourage economic development and income growth. "I'm not talking fast food," she says. "is is an opportunity to think about what's missing from Russell and west Louisville that are franchise-able. Maybe it's a tutoring center or a healthy restaurant. We could have funds to help start those franchises and whatever training might be needed." Other organizations are committing to Russell too. e Louisville Urban League's REBOUND (Rebuilding Our Neighborhood Dwellings) program has plans to build duplexes in Russell and offer them to business-savvy individuals in the area who would like to own a property, live in one unit and rent the other side for income. And Park Community Credit Union has dedicated $7.5 million to home ownership in Russell, offering low-interest loans and closing costs for individuals who want to stay put in Russell and buy or those looking to move in. is fall, Zawacki and Smith plan to collect more input at community gatherings. Floyd says she has met with them both and feels "good" about it but still has a "bit of skepticism," especially because she hasn't heard much conversation about how to improve schools in Russell and surrounding communities. Still, she animates when asked how she envisions Russell in 10 or 15 years. "I want it to be streets filled with children playing," she says. "ey run in their house and say, 'Mom and Dad, can I walk to the store?' Or maybe I'd say, 'Hmm, I need a pair of stockings.' Instead of getting in your car, you just walk a couple blocks. You'd have people sitting on their porch, talking or gossiping." Gentrification can swoop in with force or stick to a slow, steady pace. Much of what happens to Russell may be hard to control, largely up to the whims of capitalism and housing trends. is past winter, Floyd's rent went up $110. She can afford it, for now. She has urged those living around Beecher Terrace to "stay woke," as their rent might start climbing too as excavators tear down old buildings and make way for the new. Some parts of Russell already have a high eviction rate. In the north-central section of Russell, 25 percent of the 186 rental households had an eviction filed against them in 2016. What might happen if rents in the area suddenly surge? In late August, a Courier-Journal headline read: "40203: e hottest ZIP code in Louisville for first-time homebuyers." e piece focused on Shelby Park, Smoketown and Limerick as some of the hot spots in 40203, due largely to attractive and affordable housing. Part of east Russell lies in that ZIP code as well. It's the last neighborhood to touch downtown and not spark great interest among those seeking city living. It's bound to happen, a phrase I hear often. Some will come, others will go. e shift seems certain, but no telling how deep the tilt will be. "e timing of everything on this is crucial," Zawacki says. "And we know there's a lot of pressure to get everything in place so that there is no displacement."

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