Multifamily

Louisville, perhaps the center of the universe for horses and bourbon, is a somewhat undiscovered gem lying at the northern edge of the Southeast. The metro, with a population of just under 1.4 million people, is a steady performer across virtually all measurables, producing consistent and predictable metrics that may not dazzle Wall Street but certainly have not disappointed the base of capital invested in this riverfront market.   The Kentucky Derby, which ran for the 149th time this past May, produces $400 million in economic development annually and is likely the first mental image conjured up when the term “Louisville” is mentioned.  Kentucky bourbon likely comes to mind next as a $9 billion industry across the state, with roots as deep as oak. However, there’s much more to the Louisville metro.   Through the first half of 2023, the Louisville metro area had recovered virtually all of the more than 55,000 jobs the market lost in 2020. Interestingly but not surprisingly, arts, entertainment and recreation posted a net 7.5 percent increase in jobs from 2020 through 2022, more than erasing a blistering 2020 loss of 25.4 percent of the jobs in this sector.  Less glamorous but perhaps more critical is transportation …