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Old Posted Dec 13, 2005, 5:40 AM
ppassafi ppassafi is offline
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LOUISVILLE | Development Thread

This thread will list development in the Louisville/S Indiana Metro area, which is currently seeing a huge boom although it is rarely mentioned on these threads. The one person who mentions Louisville, Jeff-In-Dayton, seems to have his view of the city stuck in its stagnant days of the 1970's when he lived there briefly. Also, I think it is fair to say that Louisville is simply in a class above Dayton, who he often mentions it with. Dayton is a great city with similarities, but it is much smalller with almost 400,000 less residents in its metro. As you can see, Louisville is more similar to places like Memphis and Jacksonville.

2004 MSA estimates (U.S. Census)

30 San Jose-Sunnyvale-Santa Clara, CA 1741431
31 Columbus, OH 1693906
32 Las Vegas-Paradise, NV 1650671
33 Virginia Beach-Norfolk-Newport News, VA-NC 1644250
34 Providence-New Bedford-Fall River, RI-MA 1628808
35 Indianapolis, IN 1621613
36 Milwaukee-Waukesha-West Allis, WI 1515738
37 Charlotte-Gastonia-Concord, NC-SC 1474734
38 Austin-Round Rock, TX 1412271
39 Nashville-Davidson--Murfreesboro, TN 1395879
40 New Orleans-Metairie-Kenner, LA 1319589
41 Memphis, TN-MS-AR 1250293
42 Jacksonville, FL 1225381
43 Louisville, KY-IN 1200847
44 Hartford-West Hartford-East Hartford, CT 1184564
45 Buffalo-Cheektowaga-Tonawanda, NY 1154378
46 Richmond, VA 1154317
47 Oklahoma City, OK 1144327
48 Birmingham-Hoover, AL 1082193
49 Rochester, NY 1041499
50 Salt Lake City, UT 1018826
51 Raleigh-Cary, NC 914680
52 Tucson, AZ 907059
53 Bridgeport-Stamford-Norwalk, CT 903291
54 Honolulu, HI 899593
55 Tulsa, OK 881815
56 Fresno, CA 866772
57 New Haven-Milford, CT 845694
58 Dayton, OH 845646
59 Albany-Schenectady-Troy, NY 845269
60 Omaha-Council Bluffs, NE-IA 803801
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  #2  
Old Posted Dec 13, 2005, 5:42 AM
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There is so much going on here I cannot list it all, but here is an interesting tower in the planning stages. The tower is supposed to be 26-40 stories, depending on demand for more condos, which are now abounding downtwon:

www.museumplaza.net

Building blocks: Developers make East Main and Market streets a hotbed of activity
Travis K. Kircher
Business First Correspondent
The Hub ...
In two words, this development sums up the spirit of projects happening in the East Main and Market district.


A number of developments have hit downtown recently. But earlier projects, including Louisville Slugger Field, Preston Pointe and Waterfront Park, began the domino effect that now is rippling along the East Main and Market corridors. And developers say that while the general increase of traffic is a factor -- the stronger interest from young people has been a palpable fuel for new residential and commercial spaces.

When Todd Blue, chairman and CEO of Cobalt Ventures LLC, decided to build The Hub as an apartment complex at the corner of Floyd and Main streets, he said he had not realized there was such a heightened demand for condominiums in this part of the city.

Public interest in The Mercantile Gallery Lofts, a separate condominium project Blue is involved in changed everything. "We have no decided, due to the overwhelming demand for the other condominiums we have put under development, to make The Hub a condominium development rather than an apartment development," Blue said.

The Hub will offer single-story high-end condominiums priced between $500,000 and $600,000. The building might have four or five levels. The project, which still is in the planning stages, is expected to have about 85,000 square feet. Blue said construction is expected to begin at the end of 2006 (after The Mercantile Gallery Lofts open) and the targeted completion date will be toward the end of 2007. The cost of the project still is undetermined.

It might sound like a gamble, but Blue said the project is a sure bet because young people are flocking back to downtown Louisville. "People are kind of fed up with suburban sprawl and are wanting more connectivity to other people," he explained. "I don't think Starbucks sells coffee. I think Starbucks sells connectivity to other people. I think when you go into Starbucks and you bump into people, it's a virtual town center."

He said this desire to reconnect is what's driving people downtown. "People are tired of getting on the expressways and sitting in their car for an hour. I think people are looking to have simpler lives."

Fleur-de-lis Condominiums
If Henry Potter, founder and president of Potter & Associates Architects PLLC, believes anything, it's that young professionals are flocking to downtown Louisville. "Downtown Louisville has changed," Potter said, citing hot spots such as Louisville Slugger Field and Waterfront Park. "There's just so much more to do."

That's why he decided to create Fleur-de-lis Condominiums, a 200,000-square-foot condominium project that will place 84 families and three retailers in the heart of the East Business District in the 300 block of East Main Street. The $22.5 million project will include a 150-car parking garage and two large courtyards. Most of the condo entrances will face inward to the courtyard areas, he said. The five-story structure will have one-story and some two-story condos.

Potter said the units, which will cost anywhere from $200,000 to $360,000, will have glass bays that cantilever out over the street. Features include 10-foot ceilings, fireplaces and large exterior balconies. Some balconies will face the street and others will face interior courtyards, with flower gardens and elaborate fountains.

Potter expects to sign a restaurant and a couple of other retailers to take up the 18,000 square feet of commercial space included in the project. As for the residential units, Potter said he's having no trouble finding candidates eager to sign up. "Greater Louisville Inc. sponsored their downtown housing tour, which they do every year, and they had almost 600 people that came through just to look and see what's available downtown," he said. "We got 35 responses just on our project alone." The project is expected to be completed by next October.

The Mercantile Gallery Lofts
Another condominium project in this area is relying on the power of partnerships to come to fruition. Partners Todd Blue, Jim Walters and Rowland Miller have created CobaltBravura City Lofts LLC to oversee the development of The Mercantile Gallery Lofts condominium club and community at 301 E. Market St.

The $10 million, five-story project will include 47 single-story condominiums, ranging in size from 700 square feet to 1,500 square feet. In addition to the residential units, the project will include a theater, a game room, a workout facility, a parking garage and a separate bike garage.

Additionally, Blue said, each of the residential units will have unique features. "All of our units are individual and customized. Every single one has something different than the other, whether it's a different view, a different shape or a different size." He added that each unit will contain high-end materials and appliances, including granite countertops, stainless steel appliances, Hansgrohe faucets and stained concrete floors.

To create the lofts, Blue said he is rehabilitating four buildings that once were part of the old Brinly Hardy warehouse property. The project should be completed by June. Units cost between $179,000 and $397,000, if they are purchased before construction. Prices will go up after the project is completed.

Blue said the new developments along East Main and Market streets are not the result of actions the city has taken, but instead spring from the natural ebb and flow of supply and demand. "The successful developments are being driven by the private sector, and any successful community will always be driven by the private sector," he said. "Younger people are craving this kind of choice."

Residence Inn by Louisville Marriott Downtown
Complete with a parking garage and an indoor pool, the $15 million Marriott hotel will provide 140 rooms, priced between $89 and $169 per night. Located relatively close to the downtown medical district, at 333 E. Market St., the hotel is expected to open Dec. 15.

The project is the result of a partnership between Louisville-based Icon Properties; Maryville, Ind.-based White Lodging; and Indianapolis-based Real Estate Investments Inc. and White Lodging Services Corp. Steve Poe, a partner in Icon and president of Poe Investments LLC, said the decision to locate in downtown Louisville was a no-brainer. "We like downtown Louisville," he said. "We like the East Main corridor. It's near the hospitals, it's near downtown, it's near the convention center, and it's near Waterfront Park."

"I think a lot of years of public and private investments, starting with Waterfront Park and moving on to Slugger Field, have slowly started to change peoples' attitudes towards downtown. Downtown is becoming a destination for people to go for entertainment."

Park Place Lofts
Developed by LHD East Main LLC, the 50,000-square-foot Park Place Lofts condominium project is located at 400 E. Main St. and provides housing for 22 families plus 10 retail outlets. Larry Leis, a partner on the project and a partner with Louis & Henry Group architectural firm, said the $3.6 million condo project -- recently completed -- was built from the ground up and was designed to blend into the existing East Main Street architecture.

Exterior features include brick masonry, large openings and a contemporary industrial look. Stained concrete floors grace the inside of the building. Each of the residential units features ceiling heights of between 9 and 20 feet, as well as a large atrium space that can be seen from the master bedroom. He said the units are priced from $135,000 to $300,000.

Leis said the city of Louisville chose his partnership, which includes Rick Kremer, also a partner in Louis & Henry, from a group of several prospective developers to rehabilitate the property. The site had been part of the former Brinly Hardy property that was bought by the city when Louisville Slugger Field was constructed.

Leis said the ballpark was a catalyst for the newer developments in the area. But like other developers, he believes young professionals are naturally migrating back to cities. "People feel like they don't like that maintenance that the suburbs require of a person," he said. "They like the action. They want to be in the middle of things." This particular site is within two blocks of Waterfront Park. Residents "can walk down to the art center, the hotels or the convention center. It's a big attraction for young professionals."

Travis K. Kircher is a free-lance writer for Business First. Send comments on this article to rray@bizjournals.com.
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  #3  
Old Posted Dec 13, 2005, 7:56 AM
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Sounds like some neat stuff going on.

But you might want to add some renderings if you can, that'll make the thread get more attention.
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Old Posted Dec 15, 2005, 12:14 AM
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Im not sure how to post renderings?
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Old Posted Jan 17, 2006, 1:29 PM
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U of L assured on arena
School's interests will be protected, leaders told

By Sheldon S. Shafer
sshafer@courier-journal.com
The Courier-Journal



University of Louisville officials received strong assurances yesterday that the school's financial interest will be protected if a $349 million arena is built downtown.

The arena will not hurt either U of L's income from sports or its general fund, Jim Host, chairman of the new Louisville Arena Authority, told U of L trustees and the U of L Athletic Association's board during a joint meeting.



He pledged that the arena will produce enough income from taxes, commercial leases, the sale of club seats and corporate boxes, and other sources to cover the bond debt.

In response to questions from U of L officials, Host said he was confident the arena won't compete with U of L's request for legislative funding because the arena will pay for itself

Nor will U of L "play second fiddle" to any other user, Host said.

In an interview before the meeting, he said he had recently received calls from representatives of two National Basketball Association franchises, which he declined to identify, expressing interest in making the new Louisville arena their home. He said he stressed to them that U of L will always have priority in scheduling games.

And he promised that U of L will have final approval of what the arena is called, to be determined by the sale of naming rights.

Afterward, U of L President James Ramsey said, "We heard very strong commitments … and I couldn't imagine" not agreeing to the arena deal. But the school's trustees have a responsibility to protect U of L's financial interest, he added.

U of L's basketball income is about $15 million a year, athletics spokesman Kenny Klein said. U of L officials said that comes primarily from tickets, along with a share of Freedom Hall parking and concessions, and that it pays for all of the school's other sports except football.

Ramsey told Host and school officials that U of L wants to ensure that the arena will not be built at the expense of funding for U of L's academic programs. Although the basketball program is very important, he said, "Education is the real key to economic growth and prosperity."

Host said he expects to negotiate a memorandum of understanding with U of L covering the school's rights and obligations, including money matters, related to the arena.

He said he also expects a similar agreement with the Kentucky State Fair Board, which will run the facility.

Both should be negotiated in a month or so, he said.

Host said four construction companies have expressed interest in building the arena.

The project could be put up for bids later this year, with the earliest opening date in the fall of 2009, he said.


Last edited by sdfoma; Jan 17, 2006 at 1:43 PM.
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  #6  
Old Posted Jan 18, 2006, 12:13 AM
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Dayton is a great city with similarities, but it is much smalller with almost 400,000 less residents in its metro. As you can see, Louisville is more similar to places like Memphis and Jacksonville.

Ahem.

CSA

41 Louisville-Elizabethtown-Scottsburg, KY-IN CSA 1,323,199
42 Grand Rapids-Muskegon-Holland, MI CSA 1,294,847
52 Dayton-Springfield-Greenville, OH CSA 1,081,946

Looks like less than 300,000 to me.

But let's do urbanized statistics.

Louisville, KY--IN 863,582
Dayton, OH 703,444

Less than 160k difference.

Regardless, it was pointless and insecure to bring up an SSC arguement to begin with especially talking about Jeff-in-Dayton, knowing damn well he's not going to read this. Really "classy" but hey, not surprised.

Back to Louisville's projects.
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Old Posted Jan 18, 2006, 12:19 AM
Jeff_in_Dayton Jeff_in_Dayton is offline
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The one person who mentions Louisville, Jeff-In-Dayton, seems to have his view of the city stuck in its stagnant days of the 1970's when he lived there briefly.
What is this about? I lived there briefly?

I lived there for 14 years and return many times a year to visit.

I also don't recall saying much, if anything, negative about Louisville at all.

Who is this jerk?
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  #8  
Old Posted Jan 18, 2006, 12:27 AM
Jeff_in_Dayton Jeff_in_Dayton is offline
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...and the 1970s was hardly stagnant as this was when a lot of the foundations for current growth in Louisville started up..this was the decade of a big-back-to-the city movement that led to the revival many older neighborhoods, as well as the start of downtown revival.
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Old Posted Jan 18, 2006, 1:15 AM
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Quote:
Originally Posted by Jeff_in_Dayton

Who is this jerk?
It's gych from SSC.
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Old Posted Jan 18, 2006, 1:37 AM
Jeff_in_Dayton Jeff_in_Dayton is offline
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^
LOL....really!....

The funny thing is that I'm probably as much a Louisville fan as he is.
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Old Posted Feb 15, 2007, 11:29 PM
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A few pictures I found of the Museum Plaza and other Louisville developments to put on here.
http://www.envizionary.com/wp-content/museum_plaza.jpg

http://a5.vox.com/6a00c2251ddf0e8e1d...110d549d-500pi
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Old Posted Feb 15, 2007, 11:34 PM
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Louisville's new downtown arena is already ready to go! Here are some pics of what it might look like. 22-23K seats and its primary tenant will be the Louisville Cardinal's men's and women's basketball teams. Hopefully, it will lure an NBA or NHL team in the future?!



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Old Posted Feb 16, 2007, 4:11 AM
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^ They could put an NBA team in there for sure. It is definately a big enough arena. I am glad there is a Louisville Development thread here now. I am interested in this city. I was there about 4 years ago and I liked what I saw.
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Old Posted Mar 6, 2007, 2:50 AM
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This is just a rendering of what could happen with the University of Louisville's downtown Health Sciences Campus. It could double in size in the future. Here is the link to the actual article:
http://theestatenews.com/housing-mar...ate=2007-02-21

This is great for the city and its emerging health care sector. Hospitals are popping up everywhere, especially in eastern Jefferson County where there is substantial growth. Southern Jefferson County as well as Southern Indiana are also seeing new and improved hospitals as the health care sector takes off in Kentucky. Nothing huge really, just thought I'd post it.
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Old Posted Mar 6, 2007, 3:15 AM
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Louisville's downtown is seeing a rebirth and thriving. At the center of it all, a believeable catalyst is Waterfront Park. The park received the highest honor for any urban park in the United States in 2002, the Phoenix Award. Home to the 'Great Lawn' which features concerts and summer festivals, playgrounds and landscaping, planned and started condominiums, riverside restaurants, Slugger Field Baseball Stadium, water features, rowing and sporting facilities, and an amphitheater, Waterfront Park proves to have something for the whole family. Waterfront Park is just minutes from Louisville's thriving entertainment district and museum row. The park is directly responsible for millions in investments in the housing and retail sectors in the area. It is also home to one of the nation's best skate parks.
At the center will be the Big Four pedestrian bridge. It will be constructed from an abandoned bridge currently in place. It is said to be the new largest pedestrian-only bridge in the world after construction. However, I've also read that it will be the second largest after construction. The competitor: the Purple People's Bridge connecting Cincinnati, Ohio, to Newport, Kentucky. Either way, Kentucky will be home to the two largest pedestrian-only bridges in the world. Here are some renderings and links to articles. The last link here mentions it could be open by 2009!




http://www.geotechengineers.net/sp-big-four.html
http://www.courier-journal.com/apps/...WS01/703050428

Last edited by bw87a; Mar 6, 2007 at 3:33 AM. Reason: left out info
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Old Posted Mar 6, 2007, 3:37 AM
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Louisville is planning on erasing its waterfront interstate. Interstate 64, the subject of many Louisville activists is a problem to the city. I, however, think the interstate should be kept up. Here is a website link to a site about this process. This has a very interactive video about the complete realignment of Interstate 64 and other various interstates in the Louisville area. I think that this would hurt Louisville because the plan calls for diverting traffic away from downtown, causing tourists to by pass the city. Why not let tourists come into the city and give them the option to take an alternate route around if they want to?
http://www.8664.org
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Old Posted Mar 23, 2007, 6:46 PM
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Announcement of a new 'quarter' in downtown Louisville. This will be directly adjacent to the planned 22K seat arena. Louisville's new urban mall will give city dwellers a place to shop, an amenity absent from downtown Louisville currently.

Mayor Abramson Newsroom
$50 million shopping-office complex planned for Downtown Louisville
Tuesday March 20, 2007

Downtown Louisville is getting a major new shopping and office complex that will feature everything from clothing, furniture and jewelry stores to restaurants, cafes and coffee shops.


The $50 million Iron Quarter, being developed by Louisville resident Todd Blue, will be located in the 100 block of East Main Street, adjacent to the city’s planned $252 million downtown arena.


“The arena is already paying huge dividends, even before the first shovel of dirt is turned,” Mayor Jerry Abramson said. “This proves that our decision to build the arena downtown was correct.”


Abramson said the city center and the neighborhoods around it are already booming with new lofts, condos and apartments.


“Now, Iron Quarter will bring much-needed retail shopping to downtown,” Abramson said. “Imagine having dinner or shopping for blue jeans at Iron Quarter before attending a basketball game in the new arena.”


Blue owns eight buildings in the block, along with a vacant lot. Six of the building have historic cast-iron facades, hence the name Iron Quarter. The development’s name also pays homage to the Blue family’s former scrap metal business, which for decades operated nearby.


Blue plans to keep the historic cast-iron facades while building a new glass structure on the vacant lot. He will also construct a series of new glass and steel structures on top of the East Main buildings, merging historic 19th century architecture with contemporary 21st century style. The project was designed by Bravura, a Louisville architectural firm headed by Jim Walters.


“While preserving the character of the existing time-honored architecture, Iron Quarter will create a modern, functional and accessible downtown core of activity, excitement and energy,” Blue said. “It is a destination representing all that is fresh, chic and sophisticated about Louisville.”


Iron Quarter will contain about 120,000 square feet of retail space and 110,000 square feet of office space. In addition, 500 parking spaces will be tucked inside the development. Blue has not yet named the tenants he is seeking for Iron Quarter, but said they will be popular stores familiar to many people.


Construction is to begin this December with a grand opening scheduled for spring 2010.


Blue is president and CEO of Cobalt Ventures, whose mission is to develop “urban inspired real estate.” Cobalt’s nationally award-winning projects in Louisville include Cobalt Marketplace which houses Market on Market, Primo Restaurant and numerous commercial businesses, the architecturally-significant Preston Pointe multi-use complex, Cobalt 301 East Main, which is home to Metro Dental Group and First Omni and the industrial, urban Mercantile Gallery Lofts.




Iron Quarter By the Numbers


9 of 13 buildings/lots bounded by 1st and 2nd streets, Washington & Main Streets
Approx. 110,000 sq. ft. office space
Approx. 120,000 sq. ft. of retail space
500 additional parking spaces to be added, designated for retail, commercial, concierge service
6 of the 8 existing buildings have historic cast-iron facades (9th lot is vacant, building has been torn down)
Office tower designed as 12-14 stories, engineered for up to 23 stories
Approaches $50M in total cost
Construction to begin in December, 2007
Grand opening scheduled for Spring, 2010
Physical address is 101-119 Main Street,, Louisville, Kentucky 40202



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  #18  
Old Posted Mar 23, 2007, 6:48 PM
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If anyone knows of any other Louisville pages, that would be cool...
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Old Posted Mar 24, 2007, 8:59 PM
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Quote:
Originally Posted by bw87a View Post
is that tower on the right really going to get built? it makes me gag
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  #20  
Old Posted Mar 27, 2007, 12:28 AM
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it is going to be built. construction starts later this year and is said to be finished by around 2009 or 2010. and i really love it. it is a sterling example of form=function. it is a building that will house the largest contemporary art museum in louisville. it will also house the master's program of art from the university of louisville. so in other words, it's an architecturally defying building for a building built for art.
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