Monday, March 19, 2007

News in Brief

Kentucky Home Life Gets a Makeover
Business First of Louisville is reporting this week that the historic Kentucky Home Life Building will be seeing new owners and new investment. In their article, they are reporting that the 19 floor structure will change hand officially next week to a group of local investors. The investors are reportedly planning on investing upwards of 12 million dollars in the old structure. The building will be turned into a mixed-use structure, as the bottom floor will marketed at retail, the middles floors will turn into office condos, and the top 2 floors will be renovated into 8 penthouse units, selling for 500,000 dollars or more.

UofL Center for Predictive Medicine to Break Ground Next Month
The University of Louisville held one of the last public "Question and Answer" sessions relating to the new Center for Predictive Medicine that is being build on the Shelby Campus off of Shelbyville Road. The center, which will be in full operation in early 2009, will study many of the viral and bacterial agents that have been identified as possible bio terrorism threats. Residents of the area have been very concerned since UofL announced this project nearly 2 years ago. Despite the economic benefits and health breakthroughs this center could pioneer, locals are still vociferously opposing it. The center has already received all needed zoning clearances, and it will be a partner with the CDC, which helped UofL design the facility and it's safety checks. The site is 1 of 14 that the National Institute of Allergy and Infectious Diseases has helped to fund since September 11, 2001.

New Albany's Scribner Place Enters New Phase
New Albany, Indiana's new Scribner Place project has moved into the next phase of construction - much to the chagrin of downtown locals. Scribner Place is a local government initiative in downtown New Albany to build a new YMCA and help kick start the rebirth of the city's core. With support pilings finally installed, the incessant clanging of metal being beaten into the earth can stop. The foundation is being laid this month and the metal skeleton will begin to rise in April. Project leaders expect to have the building ready for swimming lessons and weight lifting in Fall of 2008. Other parcels of land around Scribner Place, which are owned by the city, will go on the market in the coming months, with the hopes that local developers will step forward with plans for more downtown retail and housing.

Fourth Street Live! Get 2 New Occupants
Fourth Street Live, the downtown retail and entertainment complex, announced last week that in addition to the new upscale Hotel Lounge they're adding to the complex's first level, they will also be adding two new bars to the upper level. Angel's Rock Bar and Tengo Sed Cantina will occupy space in the former Palm Bar and Parrot Beach Club. Those bars, along with Red Cheetah, were evicted last month after their parent company filed for bankruptcy. All 3 new bars will up and running before he crowds of Derby rush to town.

Also, be on the look for details of the pending Fourth Street Live expansion. It's already been announced they're close to inking a deal with the Starks Building for more space, and they're also in negotiations with the mayor about building a large addition on the former Water Company site. Stay tuned for that mega development.

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