Their Home Renovation Was Almost Complete. All That Was Missing Was a Turret.
The circular tower in Louisville, Ky., capped off an update that was long overdue
The circular tower in Louisville, Ky., capped off an update that was long overdue
On a leafy lane in Audubon Park, in Louisville, Ky., sits a house that looks like it could have once belonged to Rapunzel. With a fairy-tale turret and Dutch Colonial Revival architecture, the home stands apart from its neighbors. But when Heather and Stefan Rumancik, both 43, purchased the 1930s home in 2009 for $225,000, it was a far cry from its present-day version.
“We bought the house from its second owners, who had owned it since the 1940s, but the home itself hadn’t been updated in 30 years,” says Mrs. Rumancik, a competitive intelligence executive at a pharmaceutical company, who shares the home with Mr. Rumancik and their daughter, Adrienne.
Although the Rumanciks renovated the original 3,025-square-foot home in parts over the years, the turret remained an unfulfilled wish for Mrs. Rumancik until 2020, when Mr. Rumancik, a builder and general contractor, was forced to pause his business due to the pandemic.
“Our ongoing projects were halted by clients, so it was an ideal time to pivot to working on something that had been kept on the back burner for far too long,” says Mr. Rumancik, adding that the turret addition was appealing both for its aesthetic value and because it challenged him to try something new. For Mrs. Rumancik, the turret was a great way to expand the home’s footprint: She and Mr. Rumancik agreed on having a banquette on the first floor, the primary bathroom shower on the second, and a cocktail tasting room in the basement. They set a budget of $350,000 for the three-story addition.
To help with the architecture of the addition, Mr. Rumancik tapped friend and longtime collaborator, architect Mark Foxworth of Foxworth Architecture, for $35,000. Together, the two sheathed the turret in the same materials as the rest of the house: cedar shakes and Kentucky limestone, the latter removed and repurposed from the home’s exterior. “We made it special by capping it with a copper finial,” says Mr. Rumancik. “I think what’s unique is that you can’t see the turret or the addition from the street. It’s at the back, so the original architecture is really unchanged.” To minimise the extension’s energy consumption, Mr. Foxworth specified insulated concrete forms and high-performance glazing on the windows.
For the interior design of the addition, including the turret and the surrounding spaces, the Rumanciks enlisted Bethany Adams, founder and principal of her eponymous Louisville-based interior design studio, who had previously engaged Mr. Rumancik and his company, Designer Builders Inc., to help renovate her 1897 Victorian home. They agreed on a fee of $35,000, excluding material costs. “We told Ms. Adams to take our ideas and make them better,” says Mrs. Rumancik.
“She proposed layout ideas that we hadn’t thought of, and also simplified some of the structural changes I thought we’d need, which ended up saving us quite a lot of money,” Mr. Rumancik says.
It was important for the Rumanciks that the home’s heritage be honoured. “Audubon Park was developed at the height of the Arts and Crafts movement when there was a true appreciation for the beauty of natural materials,” says Ms. Adams, who introduced a lot of walnut wood, stone, and decorative glass to pay homage to the craftsmanship of that period. To optimise the flow between the addition and the main house, she designed a large vestibule with arched openings leading into the various spokes: namely, the mudroom, the kitchen, the living room, and the hallway.
Additionally, Ms. Adams mirrored the turret architecture in the main home by using curved handles in the bathroom and powder room. “I also used circular mirrors and light fixtures, and there’s a circular motif on the marble bathroom floor too. It’s a subtle reminder of the geometry of the addition,” she says. In the same vein, the original foyer and hallway were painted the same colour as the new kitchen and mudroom. For the floor, Mr. Rumancik installed white oak planks that perfectly matched the rest of the house.
In the kitchen, the turret was built to accommodate a banquette. Mr. Rumancik made the breakfast table himself as a Christmas gift for his wife using walnut wood from his father’s farm in Danville, Ky., and leftover quartzite from the kitchen counters. Ms. Adams arranged for custom navy blue cabinetry, a walnut island, and a bar top, which collectively cost $58,000. She also upholstered the banquette in the same chartreuse fabric as the West Elm bar stools, which cost $500 apiece. The banquette cost a total of $10,000.
For Mr. Rumancik, the tiling of the circular shower walls was an exercise in both mathematical proficiency and patience. “Even though the shower tile came on a mesh backing, many pieces had to be cut and placed individually in order to follow the curve of the walls and afford uniform grout joints. We spent four weeks tiling that shower,” he says.
All in all, the Rumanciks say the 2021 renovation—completed just before the holidays to the tune of $425,000—was compensation for a year gone awry. “Despite the challenges of the previous year, it was quite possibly the best Christmas of all,” says Mrs. Rumancik.
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As interest rates, inflation and market sentiment fluctuate, investors are being urged to focus on data, not panic.
Australia’s housing affordability crisis is being fuelled by chronic undersupply, planning delays and rising development costs, as politicians continue to focus on the wrong solutions.
Australia’s housing crisis will not be solved by first-home buyer incentives or tax changes alone, with leading property figures warning governments must tackle supply constraints if affordability is to improve.
Speaking at the Kanebridge Quarterly Property Leadership Summit in Sydney last week, expert project marketing specialist Sam Elbanna, property investor and fund manager Paul Miron and property consultant Karla McNeice said that a lack of housing supply remained the central issue facing the market.
Elbanna, Director of CPM Realty with more than 30 years’ experience in project sales, argued that successive governments had focused too heavily on stimulating demand rather than addressing the barriers preventing new housing from being delivered.
“The misconception is that politicians think the way to solve the housing crisis is to drive demand,” he said.
“The reality is that’s not the way. This is a supply-side problem, and it needs to be solved on the supply side.”
Drawing on his experience in project sales, Elbanna said policies designed to help first-home buyers often had unintended consequences, pointing to previous grants that ultimately flowed through to higher property prices.
Instead, he said developers were facing increasing red tape, approval delays and rising costs, which were discouraging new housing supply.
“In the absence of stock, demand exceeds supply,” he said.
Miron, a Co-Founder and Fund Manager of Msquared Capital, said the housing debate had become overly focused on tax policy while overlooking broader structural issues.
He argued that affordability challenges stemmed from a combination of factors, including planning constraints, supply shortages, migration levels and interest rates.
“No-one can be 100 per cent certain on the real reason for property prices is going up,” he said.
“The reason why property prices are higher is a combination of interest rates, lack of supply, migration, vacancy rates and maybe taxes play a role.”
Miron was critical of recent federal housing policy changes, warning they could reduce the number of new homes being built and further constrain supply that was even highlighted in the budget.
He also highlighted the importance of the property sector to the broader economy, noting that residential real estate and related industries employed more than one million Australians.
McNeice, who advises developers on sales strategy and market intelligence, said understanding buyers had become increasingly important as affordability pressures intensified.
While affordability remained a major consideration, she said today’s buyers were focused on value rather than simply price.
“People are looking for value for money,” she said.
She said buyers were increasingly evaluating factors such as transport connections, walkability, nearby amenities and flexible living spaces that could accommodate changing family needs.
“What infrastructure is going on? Can I walk to the shops? Can I meet people at the local cafe?” she said.
The panel also discussed the mounting pressures facing developers, with Elbanna arguing that many projects become financially unviable from the moment a site is purchased.
“The viability of a development happens at the moment the site is bought,” he said.
He said rising construction costs, higher interest rates and overly optimistic feasibility assumptions had left some developers exposed as market conditions changed.
While acknowledging the growing number of smaller and first-time developers entering the market, Elbanna said property development required expertise across finance, construction, marketing and legal disciplines.
“It is actually a business that requires a level of expertise,” he said.
Looking ahead, the panel agreed opportunities remained in the market despite current challenges.
Miron said property should continue to be viewed as a long-term investment and cautioned against trying to time short-term market movements.
McNeice said success would increasingly depend on identifying projects that genuinely met changing buyer expectations.
Elbanna said affordable housing remained achievable, but developers needed to deliver more than just homes.
“We can provide affordable housing in this country,” he said.
“But we’ve got to wrap that affordable housing with the things that people want.”
As Australia’s housing affordability debate intensifies, the panellists agreed on one point: without a meaningful increase in housing supply, demand-side measures alone are unlikely to solve the nation’s property challenges.
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