Park Community to break ground for new headquarters

Louisville-based Park Community Federal Credit Union plans to break ground next week for its new headquarters building.

As Business First previously reported, the credit union plans to build its new headquarters at 2515 Blankenbaker Parkway, next to its branch at 2501 Blankenbaker Parkway. It plans to create offices for 75 to 80 employees now scattered among three Louisville buildings.

The estimated price tag, including the price of the property, is $10.1 million, according to a filing the credit union made with theKentucky Economic Development Finance Authority earlier this year. In July, KEDFA granted preliminary approval for the credit union to receive up to $160,000 in tax incentives for the project, provided the company creates 20 new jobs with a total payroll of more than $900,000.

The credit union closed on the purchase of the property on Aug. 22, and officials expect to start construction sometime early in November, said Carolyn Riggs, vice president of marketing and business development.

According to Jefferson County Property Valuation Administration records, the credit union paid NTS Crossings Corp. $1.17 million for the property.

Designed by Cincinnati-based K4 Architecture LLC, the two-story, 43,000 square-foot building is expected to incorporate architectural elements of natural materials and earth-tone colors. It will include a tower at the main entrance, intended to help with brand recognition for the credit union.

The general contractor for the project is Louisville-based Kelley Construction Inc.Construction is expected to be complete in the fourth quarter of next year.

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