First City Monument Bank has partnered with TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd to finance and develop Louisville Phase 1, a 157-unit residential tower located in Eko Atlantic City, Lagos.
The project is a key component of the broader $150 million Louisville mixed-use development, which will also include a luxury hotel, commercial spaces, sports facilities, and a dedicated car park.
Recognized for its commitment to sustainability, the Louisville project has earned two Excellence in Design for Greater Efficiencies certifications from the International Finance Corporation.
It will incorporate eco-friendly features such as green technologies, smart home systems, and sustainable construction methods.
FCMB is supporting the residential phase with a $40 million loan facility—its first major international infrastructure partnership involving a housing cooperative.
The investment aligns with FCMB’s strategic focus on mixed-use developments that address housing shortages, promote economic activity in free zones, and boost urban growth.
Managing Director and CEO of FCMB, Yemisi Edun, said, “This partnership with Total Energies Housing Cooperative Multipurpose Society Ltd is our commitment to finance a project that supports Nigeria’s urban growth.
“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.”
Chief Commercial Officer of TEHC, Oluwakemi Balogun, stated, “This partnership marks a bold step in global collaboration for urban renewal. We’re proud to work with FCMB to bring to life the first phase of the elite urban ecosystem in Africa.”
Managing Director of ITB Limited, Ramzi Chidiac, added, “Louisville will be a revolution in the developments within Eko Atlantic, Lagos, and Nigeria at large.”
The project is scheduled for phased completion over the next 36 months, with piling work already completed. Positioned to set a new benchmark for luxury living in Eko Atlantic City, the Louisville development will offer a distinctive blend of contemporary elegance, sustainable design, and community-focused living.
