First City Monument Bank (FCMB) has partnered with TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) to finance the development of Louisville Phase 1, a premium residential tower within the ambitious Louisville Mixed-Use Development project in Eko Atlantic City, Lagos.
The collaboration was announced alongside the unveiling of the residential tower, which will feature 157 high-end apartments. These include two- and three-bedroom flats, four-bedroom maisonettes, and luxury five-bedroom penthouses. The tower is the initial phase of the larger $150 million Louisville project, which will also include a world-class hotel, commercial spaces, retail outlets, cinemas, multipurpose halls, sports facilities, wellness centres, and parking space for over 1,400 vehicles.
The residential phase is being financed solely by FCMB through a $40 million facility, marking the bank’s first major international infrastructure collaboration with a housing cooperative. According to FCMB, the project aligns with its strategic focus on real estate investment to address Nigeria’s housing deficit, foster urban renewal, and strengthen the urban economy.
FCMB’s Managing Director and CEO, Yemisi Edun, noted that the partnership supports Nigeria’s urban development objectives. “The Louisville Mixed-Use Development supports integrated living and the development of a live, work, and play environment that meets global standards in facilities and hospitality. This collaboration reflects FCMB’s strategic focus on real estate to enable job creation and community development,” she said.
TEHC’s Chief Commercial Officer, Oluwakemi Balogun, described the partnership as a “bold step in global collaboration for urban renewal,” expressing pride in working with FCMB to bring the vision of an elite urban ecosystem to life in Africa.
Construction for the project is already underway, with piling works completed. Development will progress in phases over the next 36 months. The construction is being handled by ITB Nigeria Limited, a reputable contractor with a track record of major infrastructure projects. ITB is serving as the EPC contractor, overseeing the entire project from piling to turnkey delivery.
Managing Director of ITB Nigeria Limited, Ramzi Chidiac, emphasized the project’s significance, stating, “Louisville will be a revolution in the developments within Eko Atlantic, Lagos, and Nigeria at large.”
The Louisville project has earned two Excellence in Design for Greater Efficiencies (EDGE) certifications from the International Finance Corporation (IFC), demonstrating a commitment to sustainability and green building practices. The recognition was announced during the Future Cities – Africa Green Building Summit, co-hosted by the Green Building Council Nigeria (GBCN).
The development is designed with a focus on smart, eco-friendly living, integrating green technologies, smart home systems, and sustainable construction methods aimed at reducing environmental impact while maximizing energy efficiency and comfort.
As West Africa’s first integrated urban ecosystem, the Louisville Mixed-Use Development is poised to set new standards for modern urban living in Nigeria, combining residential, commercial, and leisure spaces in a single, sustainable environment.
