First City Monument Bank (FCMB) has joined forces with TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) to finance and develop Louisville Phase 1, a premium residential tower in Eko Atlantic City, Lagos.
The tower will feature 157 upscale homes, including two- and three-bedroom apartments, four-bedroom maisonettes, and five-bedroom penthouses.
The project marks the first phase of the larger Louisville mixed-use development, valued at $150 million. Once completed, the development will include a world-class hotel, a commercial centre with retail outlets, multipurpose halls, high-end cinemas, a games arcade, sports and wellness facilities, and a multi-level car park with capacity for over 1,400 vehicles.
Positioned as West Africa’s first integrated urban ecosystem, the Louisville Mixed-Use Development has received two prestigious Excellence in Design for Greater Efficiencies (EDGE) certifications from the International Finance Corporation (IFC). These awards were presented at the Future Cities, Africa Green Building Summit, co-hosted by the Green Building Council Nigeria (GBCN), underscoring the project’s dedication to sustainability and advanced green building practices.
The development aims to set itself apart not just by its scale and mix of functions, but through a forward-looking design that incorporates environmentally friendly features.
It will be constructed in line with sustainable building standards, integrating smart technologies, energy-efficient systems, and eco-conscious design to minimise environmental impact while delivering comfort and modern luxury.
TEHC has appointed a qualified team of technical experts using a rigorous selection process to ensure top-tier project execution. ITB Nigeria Limited, known for delivering landmark projects, has been engaged as the piling and turnkey EPC contractor for the tower.
As the exclusive financier of Phase 1, FCMB is providing a $40 million facility for the residential portion of the development. Piling works have already been completed, and full construction will be delivered in phases over a 36-month period.
This partnership marks FCMB’s first large-scale international infrastructure collaboration involving a housing cooperative, aligning with its strategic push into mixed-use real estate that addresses housing shortfalls, supports economic hubs, and strengthens urban infrastructure.
Yemisi Edun, Managing Director and CEO of FCMB, stated: “This partnership with TotalEnergies Housing Cooperative Multipurpose Society Ltd demonstrates our resolve to finance projects that contribute to Nigeria’s urban transformation. The Louisville Mixed-Use Development represents a new model of integrated living, aligning with global standards in residential and hospitality infrastructure. It also reflects our broader strategy to stimulate job creation and community advancement through real estate investment.”
Oluwakemi Balogun, Chief Commercial Officer at TEHC, added: “This collaboration marks a bold step in global partnerships for urban development. We are excited to work alongside FCMB to bring to life the inaugural phase of this pioneering urban ecosystem in Africa.”
Ramzi Chidiac, Managing Director of ITB Limited, described the project as transformative: “Louisville will redefine the landscape of Eko Atlantic, Lagos, and the Nigerian real estate market as a whole.”
