German American Bank Helps Break Ground on Roosevelt Senior Apartments, Bringing 36 New Units to the Historic Portland Neighborhood

German American Bank Helps Break Ground on Roosevelt Senior Apartments, Bringing 36 New Units to the Historic Portland Neighborhood.

On August 19, German American Bank joined local leaders and development partners to celebrate the groundbreaking of Roosevelt Senior Apartments, a new $8.9 million affordable housing community in Louisville’s Portland neighborhood. Once complete, the project will offer 36 ADA-compliant one-bedroom apartments for seniors aged 62 and older.

German American Bank is providing almost $2 million in construction-to-permanent financing, reinforcing our commitment to supporting long-term, community-focused housing solutions.

A Purpose Driven Partnership

German American Affordable Housing Commercial Loan Officer, Jessica Cheatham, worked closely with New Directions Housing Corporation to structure the financing for this impactful project.

“This project is a great example of what’s possible when mission driven developers and community focused lenders work together,” said Cheatham. “We’re honored to play a part in bringing more high quality, affordable housing to Louisville.”

Community-Driven Design

Each 600 square foot apartment will feature roll-in showers, ENERGY STAR appliances, and in-unit laundry. Shared amenities will include a community room, kitchen workspace, and common balconies. The building will complement the nearby Roosevelt Apartments, creating a cross-generational housing campus.

A Collaborative Effort

The project is led by New Directions Housing Corporation under the leadership of President and CEO Bridgette Johnson. Additional funding was provided through a HUD Section 202 award, Louisville Metro Government, and the Louisville Affordable Housing Trust Fund. Bosse Construction will serve as the general contractor.

The groundbreaking brought together many key contributors, including Mayor Craig Greenberg, Congressman Morgan McGarvey, and Lieutenant Governor Jacqueline Coleman. The event also featured remarks from community leaders and project partners who helped make the development possible. This marks New Directions’ first new construction project in more than 20 years, a meaningful milestone for the organization and the neighborhood.

Looking Ahead

Construction is underway, with completion expected by late 2026. German American Bank is proud to support this transformational project and remains committed to strengthening the communities we serve.

To learn more, visit ndhc.org.

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