Real estate development and redevelopment firm City Properties Group is rebranding as its founder and prominent Louisvillian Bill Weyland takes a step back from day-to-day operations.
The company will now be known as Weyland Ventures, according to an announcement. The name change coincides with the business’s restructuring and expansion.
Weyland’s daughter, Mariah Weyland Gratz, and sons, Kent Weyland and Lee Weyland, are stepping up to take over more leadership duties at the company, while their father focuses on the “big-picture strategy and architecture and design matters,” the company said. While all three will play a role in the company, Gratz has been tapped as the heir apparent to take over the corporate leadership position.
At the same time, Weyland Ventures is looking to take on more projects outside of Louisville.
“The more well known we become, the more people reach out,” Lora Mindel, marketing director for Weyland Ventures, told IL.
Already, Weyland Ventures is working on a project in Lexington and another in Dayton, Ohio. IL previously reported that the company is investing $7.9 million in the revitalization of a former Dayton industrial facility. The facility will become a mixed-use development with 40 apartments and first-floor retail, including a Troll Pub Under the Bridge.
According to The Lexington Herald-Leader, Weyland Ventures also is restoring of the former Fayette County Courthouse. The $30 million project will transform the building into commercial space.
Weyland Ventures is expected to announce additional development projects in the coming weeks.
“We are committed to developing partnerships and pursuing projects that revive and restore urban areas, making them prosperous districts where businesses want to locate and people want to live,” Gratz said in the news release.
The company employs 20 people who work in architecture, urban planning, preservation, property management, event production, construction coordination and/or real estate, and much of its efforts have been focused in Jefferson County.
Weyland has worked as a developer for more than 20 years and is known for his investment in downtown Louisville. Projects include the Louisville Glassworks buildings, Louisville Slugger Museum & Factory, The Henry Clay, and most recently, the Edison Center.
“It has been a thrill to build our business into the thriving enterprise it is,” Bill Weyland said in a statement. “Most of our projects are complex and very challenging – but it has been a joy and a privilege to have been part of so many projects that have helped rejuvenate Louisville’s downtown core.”