Construction is underway on a new development in St. Matthews that will appeal to those looking for luxury housing options.
Alter Development is finishing up the build on a state-of-the-art community known as Wellston Place on Massie Avenue, which will feature 12 2,400-square-foot townhomes in the heart of St. Matthews. Each home includes four bedrooms, 2.5 baths and a two-car garage, and will cost buyers around $700,000.
“We’re really excited about this one in St. Matthews,” says Chris Thompson, Alter chief executive officer and owner. “We are looking to be completely done with construction in December, and hoping to be sold out by then.”
Alter broke ground on the site last year. The opportunity to be involved with the site was presented to Thompson by another developer, who got the plans for the original project approved. Alter is now the developer and general contractor for Wellston Place.
Thompson has deep ties to St. Matthews, personally residing in the area for over a decade and also owning an office building at 136 St. Matthews Avenue, where Alter is headquartered. He calls moving forward with Wellston Place project a no-brainer.
“We’re really tied into the community,” Thompson says. “We’re very familiar with how St. Matthews works and the real estate that is here. This opportunity was presented to us by another developer who got the plan approved but didn’t want to move forward with the construction. They offered it to us and we jumped on it when given the chance.”
Thompson started Alter in 2021 after working with a number of other large real estate groups in Louisville. Alter is qualified to assist clients in their residential and commercial needs from start to finish, including construction, home loans and brokerage. Other projects Alter has worked on include a luxury living complex on Brownsboro Road, and a 26-unit apartment complex located on Saint Catherine Street known as The Shelby. The group has also done similar projects in other states including Ohio, Missouri, Indiana and Tennessee.
Being multifaceted and involved in projects from start to finish gives Alter a competitive edge, and this can save buyers on the back end with lower interest rates, as opposed to going with traditional banks.
“We have the ability to do exclusive financing for the townhomes,” Thompson says. “That gives us a lot of flexibility in how we price the interest rates. For how expensive construction has been lately, we’re able to save potential buyers on the back side, on the interest rates. We’re running about a half point lower than typical banks at this point.”
For more information on the Wellston Place project, contact Realtor Heather Nutt at 502-512-8275 or via email at
heather@thealterco.com. Or Doug Dreisbach at 502-777-3711 or Doug@thealterco.com
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