In 2005, local developer and architect Bill Weyland with City Properties Group, LLC purchased the property from the City of Louisville. For several years, the City of Louisville had approached many developers with the opportunity to restore the Henry Clay, but deals fell through again and again. The redevelopment of the project was cost prohibitive because of its sensitive historic preservation needs.

City Properties Group was able to restore the building because of Weyland’s long-term expertise with working with a combination of New Market and Historic Tax Credits.