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RATIONALE <br />The City must expand its residential capacity that is currently restricted by <br />zoning to meet the diverse housing needs of both the current and future <br />Louisville population. There are currently some areas where residential <br />development may be appropriate, but it is currently prohibited or restricted. <br />With the post-Covid downturn in the commercial real estate market, especially <br />in Louisville, the demand for commercial land has lessened while a clear and <br />pressing demand for residential land has emerged. These opportunity areas <br />include but are not limited to vacant or underutilized areas with nonresidential <br />zoning along the McCaslin and South Boulder Road corridors. <br />DESCRIPTION <br />Established criteria can offer transparency, foster <br />more strategic thinking around long-term economic <br />vitality and infrastructure investments, and may help <br />reconcile competing policy goals. With the upcoming <br />comprehensive plan update and its community <br />process, the City should develop criteria and identify <br />lands to rezone for residential uses. <br />The city should also consider conducting market <br />assessments in areas where major land use changes <br />are considered. This analysis will help provide insights <br />into the feasibility of various potential uses for an <br />area, as well as identify potential risks and challenges <br />that could impact development feasibility and market <br />viability. This analysis can also identify an appropriate <br />balance of residential and commercial uses (e.g., <br />retail, office, light industrial) in the opportunity areas <br />to support the economic vitality of the commercial <br />areas that need residential nearby to thrive. <br />Housing Goals <br />19:4:7Fill 1ilidi]ill Iq <br />CHANGES TO RESIDENTIAL <br />Access to public transit, bicycle, and <br />pedestrian facilities <br />Adequately served by infrastructure <br />(water, sewer, streets, etc.) <br />Near existing or future resident services <br />(retail, community centers, etc.) <br />Larger parcels > 1 acre <br />>> High recent vacancy rates <br />Large, underutilized parking areas <br />Action 1.1 Relevant Key Themes from Housing Plan Community Engagement <br />o Comprehensive plan in 2013 was beneficial in some ways, but zoning did not implement <br />the vision. <br />o Retail follows rooftops so we need more housing to support retail. <br />ACTION 1.1 BENEFITS SUMMARY <br />INCOME LEVEL <br />HOUSING <br />LEVEL OF <br />ACTION TYPE <br />GEOGRAPHIC SCALE <br />SERVED <br />PRODUCTION <br />INVESTMENT <br />Policy Change <br />All <br />City -Wide <br />Louisville Housing Plan Part 4: Housing Strategies and Actions 31 <br />