Self storage developer Citadel Storage Partners I LP, a Delaware limited partnership, has received approval to begin construction on a three-story facility in St. Matthews, Ky., a suburb of Louisville. Company affiliate Dupont Self Storage LLC acquired the 2.5-acre site at 1403 Browns Lane for $1.35 million. The developer plans to build a 145,000-square-foot structure containing 900 storage units, with completion expected by March 2018, according to the source.
The site was previously home to a church, elementary school and daycare center. The seller was Fruitful Ministries Global Inc. Citadel has permission to remove the existing buildings, and the property has been rezoned from residential to commercial use, the source reported.
Construction on the facility is expected to cost about $10 million, project manager Dan Kunau told the source. The developer chose the property near DuPont Square and Norton Suburban Hospital due to its visibility and proximity to Interstates 64 and 264, according to the source.
Founded in 2015, Citadel Storage Partners I is based in Louisville.