Construction is expected to begin in April on five downtown riverfront, luxury townhomes that are being built on Main and Lafayette streets in collaboration with the new IBM Services Center development.
The Metro Council approved a necessary zoning change on Wednesday, greenlighting a project tentatively expected to be complete in about a year.
The townhomes have previously been described as “very, very high-end,” by Charles Landry, an attorney representing the developer, John Enquist.
The prices for the units have not been determined yet. But the expected construction budget is being estimated at between $8 million and $9 million.
The five townhouses sit on a quarter-acre lot. Four will be four stories in height, and one will be three stories with a 1,010- square-foot retail component.
Enquist will own and live in one of the townhomes as his primary residence, according to a report detailing the project. He bought the land from the Wilber Marvin Foundation, which owns the IBM block, to develop the property.
Each townhome will range in size from 3,500 to 5,000 square feet.
The IBM Services Center is set to open April 15.
Also being constructed along the same block is 525 Lafayette, a high-rise with 95 units that is expected to be complete this fall.