A first of its kind in the capital city, The Saint Clair, a 13-rental boutique-style Airbnb facility with a conceptual bourbon-themed restaurant and rooftop bar, has received the go-ahead to start construction in the former Marcus Furniture building.
The Crumbaugh Companies, an investment, development and construction firm started in 1978 and currently led by Will Crumbaugh, is partnering with Key Select Properties — the largest Airbnb provider in Louisville — to manage The Saint Clair, located at 309-311 St. Clair St.
According to the Franklin County Property Valuation website, Legacy Property Group LLC purchased the building from the Elliott H. Marcus Irrevocable Living Trust for $188,000 in December.
“With the number of distillery visitors increasing dramatically each year, The Crumbaugh Companies saw the demand for short-term rentals and made the decision to act,” the company wrote in a press release.
Conceptual plans of the renovation were released Tuesday, and according to Heather Neilson, director of marketing at Crumbaugh Commercial Real Estate Group, construction will begin soon — though she couldn’t give an estimated date.
“We have received all of our approvals from the Architectural Review Board and our building permit from the state,” she told The State Journal.
The project was awarded the $100,000 Downtown Reinvestment Grant — capital funds provided by the city to stimulate reinvestment in properties located in the mixed-use commercial districts in Frankfort’s Central Business Historic District — earlier this year. That money will be used to restore the original façade by opening and installing new windows, according to the company.
“We have an exciting plan and look forward to working to provide a mixed use development that will make the community proud,” said Will Crumbaugh, the principal and development director.
While still in the conceptual phase, Neilson said the firm is attempting to attract the right tenant for the restaurant — “one that will provide the greatest positive impact on our community,” she explained, saying the rooftop bar would be for restaurant patrons and Airbnb tenants.
As for how much rentals will cost, that is something that has yet to be determined by property management, but Neilson said those conversations will take place in the coming weeks.
“We hope this project will bring new life to this beautiful, historic building and add additional excitement to the great things happening in Downtown Frankfort,” she said.