Downtown continues to show strength as local developers have announced plans to renovate three buildings along West Main Street into housing and restaurants. The buildings, located at the corner of Main and Second, are adjacent to the proposed Iron Quarter retail and office development, as well as across the street from the planned Louisville Arena. Plans call for up to 32 condominium units as well as a locally owned Irish pub.
The structures feature cast iron facades and were constructed in the late 1800's. The facades will be refurbished and brought back to their original states. Bill Weyland, a local developer with tons of experience, has signed on as the principal architect and as a partner. He plans to have the buildings put onto the National Register of Historic Places so he can get federal tax credits for being involved in the project. Weyland has had several major projects in downtown Louisville where he used the federal tax credits to help finance his buildings.
The project will include an interior courtyard as well as maintain entrances on both Main Street and Washington Street in the rear. The buildings will each have a penthouse unit on the top floors, and will feature an industrial/modern look with exposed brick, hard woods, and stone.
After Todd Blue announced his plans for a major retail and office project in several of the buildings adjacent to this project, we knew it would only be a matter of time before the remaining few structures were snatched up for reuse.
Showing posts with label Downtown. Show all posts
Showing posts with label Downtown. Show all posts
Monday, October 29, 2007
Monday, September 10, 2007
Major Work Now Begins at RiverPark Place
RiverPark Place, the sprawling new mixed-use development along the Ohio River, is now moving into the heavy construction phase. The developer, Poe Companies of Louisville, plans to have the first unit available for occupancy in Summer 2008. Phase 1 of RiverPark Place includes two 16-floor condo towers, a large marina, and other low-rise residential and commercial structures.
Preliminary work at the site, which included the placement of utilities and work done for the foundations, was completed in August. The financial workings of the project have also been finalized. National City Bank has agreed to fund the 75 million dollar loan for the project because the developers have more than 50 percent of the condos reserved by buyers.
The project features more than 150 condos with a wide price range of 129,000 to 1.5 million.
Preliminary work at the site, which included the placement of utilities and work done for the foundations, was completed in August. The financial workings of the project have also been finalized. National City Bank has agreed to fund the 75 million dollar loan for the project because the developers have more than 50 percent of the condos reserved by buyers.
The project features more than 150 condos with a wide price range of 129,000 to 1.5 million.
Tuesday, August 21, 2007
Cordish Plans New “Center City”
The Baltimore-based developer of Fourth Street Live has announced plans for a new 250 million dollar mixed-use development in the heart of downtown. It will encompass the entire Water Company block, and include a renovated Louisville Gardens, and other assorted properties on six separate city blocks. In a word, this is HUGE.
The old Water Company will be the main focus of this development. At the site, Cordish has preliminary plans for buildings equaling over 500,000 square feet of space with a mix of uses. The block will be transformed into a retail hub/entertainment area/neighborhood. The project will consist mainly of building flush with the street with retail and dining options along the first level and residential or office space above it. There will also be a residential mid-rise of at least 15 stories. Officials have declined to mention exactly how many residential units will be included, but did say there would be at least “several hundred”.
In the new development, currently called Center City, Cordish plans to bring in small and medium sized national tenants, including restaurants, retail stores, and a large multiplex theatre. The company has not yet signed any tenants for the project, but they did say that national chains were responding favorably in negotiations. Cordish has hinted, however, that a major department store might not be a part of the final mix.
The other main component of this sweeping project is the renovation of the aging Louisville Gardens. The company plans to revive the space as an arena for a new minor league hockey team, and as a venue for smaller concerts and shows. The Gardens were built in early 20th century, and the building hasn’t been extensively renovated in years.
The price tag for the entire project is estimated at 250 million dollars, which will be completely fronted by Cordish. However, there is a catch. For the project to be built the city has been asked to approve a TIF district covering the area of the new developments and rebating up to 80 percent of future tax growth for 30 years to improve public infrastructure. The TIF dollars would be rebated back to Cordish for their work in rebuilding public amenities, such as streets, alleys, new lighting and streetscapes, and new parking decks. The rebate would be 130 million dollars over the life of the TIF.
The Metro Council will receive the official request for the TIF district on Thursday, and it is expected to breeze through the council. It will also have to be approved by state officials in Frankfort, which have historically rubberstamped municipal decisions in this type of situation. If the TIF district is passed without a hitch construction will begin in 2008.
Center City, if completed, will cost nearly 4 times that of nearby Fourth Street Live, and will dwarf it in scope. Cordish has long tried build on to their wildly successful project in Louisville, only for things to usually fall through. In 2005 they planned a phase two to Fourth Street Live in the former JCPenney building, only for other building owners to refuse selling their properties. Earlier this year Cordish reached a deal with the owners of the Starks Building to expand their center, but it will only add a few thousand feet of space.
The project is especially exciting for Louisville because it is the culmination of years of renewal in the core. The city has longed for a major retail destination that can serve the burgeoning urban population and provide conventioneers and other out-of-town guest a place to drop their money and spend their time. It has not been a secret that city officials have been pushing and kneading developers to build this sort of showcase project – and that they would not consider the downtown rebirth successful until this was done.
I think downtown Louisville may have finally arrived.
More in Store for Downtown - Sunday, August 19
Friday, August 10, 2007
Haymarket Could See 300 Million Dollar Development
The University of Louisville took two huge leaps forward last week in their bid to build a state of the art urban medical research park in downtown. Officials at UofL announced they were diving head first into plans to convert two blocks on the eastern fringe of downtown into a bustling research and business incubator with the help of Maryland based developer Wexford Science + Technology. Estimates put the full build-out of the project at 300 million dollars.
The Haymarket has been on hold for several years, and it has only been in the last few months that the university has revived the project. Current plans call for over 1 million square feet of space in several mid-rise buildings, but those numbers are not yet finalized. The center will offer research space to university scientists and space for small medical start-up companies that will collaborate with researchers.
UofL owns the majority of the land needed for the project, but is now entering into negotiations for the final few parcels that remain. All other land owners have expressed their willingness to sell their land quickly, and the James Graham Brown Foundations will be picking up the tab for the school.
Besides just making the plans, the university has also been working behind the scenes to get the needed funding mechanisms in place. On Monday city and state officials announced plans to create a TIF district in the Louisville Medical District to help fund 300 million dollars in public infrastructure. Several parking garages will be constructed, along with public green spaces and other improvements to the area. In addition to the TIF funding, the State of Kentucky has said it would spend 3 million dollars to help lure and retain businesses inside the new Haymarket medical park.
State officials estimate that the Haymarket project will generate up to 2.5 billion dollars in direct and spin-off investments and will lead to an increase of nearly 9,000 jobs, only 2,200 of which will be in the Haymarket site itself. State officials are expecting that UofL will make good on their plans to not only develop the Haymarket site, but to continue improving their offerings in the medical district.
The Louisville Metro Council is expected to approve the TIF funding this month making the Haymarket project the second “signature” project in Louisville that is capable of receiving the increased tax revenue under new Kentucky regulations.
The Haymarket has been on hold for several years, and it has only been in the last few months that the university has revived the project. Current plans call for over 1 million square feet of space in several mid-rise buildings, but those numbers are not yet finalized. The center will offer research space to university scientists and space for small medical start-up companies that will collaborate with researchers.
UofL owns the majority of the land needed for the project, but is now entering into negotiations for the final few parcels that remain. All other land owners have expressed their willingness to sell their land quickly, and the James Graham Brown Foundations will be picking up the tab for the school.
Besides just making the plans, the university has also been working behind the scenes to get the needed funding mechanisms in place. On Monday city and state officials announced plans to create a TIF district in the Louisville Medical District to help fund 300 million dollars in public infrastructure. Several parking garages will be constructed, along with public green spaces and other improvements to the area. In addition to the TIF funding, the State of Kentucky has said it would spend 3 million dollars to help lure and retain businesses inside the new Haymarket medical park.
The Louisville Metro Council is expected to approve the TIF funding this month making the Haymarket project the second “signature” project in Louisville that is capable of receiving the increased tax revenue under new Kentucky regulations.
Wednesday, May 23, 2007
River City News Briefs
Fletcher Beats Northup and will Meet Beshear in General Election
Governor Fletcher was able to dodge a bullet yesterday and nudged past Anne Northup in the Republican primary. He enjoyed broad support in nearly every county of the state, except Jefferson, the home of Northup. Northup, who ran a campaign extolling her ability as the only Republican to be able to beat the Democrats this year, conceded early last night and lauded the governor in his victory. It is unknown how active she will be in the Republican campaign to keep the governor’s mansion in Frankfort.
Museum Plaza expects OK from Downtown Overlay Board
Tonight the developers of Museum Plaza will face the first of several government agencies which must give their blessings before the building can begin construction on September 27. The Downtown Development Review Overlay Board is expected to give the building their positive recommendations, but would like the developers to provide a few more details on several points, such as signage, more explanation of their landscaping and public art, and attempts to better connect the structure to the riverfront. Despite these questions, the building already conforms to nearly all standards for new development, and it is expected to pass all hurdles without issue.
Changes Along Bardstown Road
Louisville’s belovedly eclectic Bardstown Road is getting a small facelift. Phase 2 of a project that started last year will repave broken sidewalks and curbs, add new landscaping and decorative pavers, replace several bus stops, and add more trash receptacles. The project is being funded out of Councilman Tom Owen’s neighborhood development fund. In other local happening, the long abandoned Dillard’s at Bashford Manor may finally be razed and replaced by a small retail development to compliment the new big box stores that had replaced the majority of the old mall.
Henry Clay Finishes Up
Bill Weyland is putting in the final details of his 20 million dollar redo of the old YWCA. The building, which contains a mix of rentals and condos, is almost completely occupied – only 1 condo is left to be sold. First floor retail space is completely leased, and a new theatre is being installed for a local acting troupe. As a companion project, Weyland is renovating an adjacent building on Fourth Street into a Japanese restaurant, and rumors persist of a mid-rise hotel on the lot he owns directly behind the YWCA.
Mayor in Vegas Bringing Home New Retailers
Mayor Abramson took a trip out to Las Vegas this week to convince national retailers that Louisville is a place they want to be. Abramson had several meetings lined up while there with McCormick & Schmick’s, Nordstrom, Trader Joe’s, Crate & Barrel, and several others. The mayor as joined by numerous Louisville businessmen, including Todd Blue who is trying to line up tenants for his planned upscale Iron Quarter development in downtown. Trader Joe’s has already expressed a desire for 3 Louisville locations, and McCormick and Schmick’s has displayed interest in the new Louisville arena.
Todd Blue's Sales Pitch for the Iron Quarter
Governor Fletcher was able to dodge a bullet yesterday and nudged past Anne Northup in the Republican primary. He enjoyed broad support in nearly every county of the state, except Jefferson, the home of Northup. Northup, who ran a campaign extolling her ability as the only Republican to be able to beat the Democrats this year, conceded early last night and lauded the governor in his victory. It is unknown how active she will be in the Republican campaign to keep the governor’s mansion in Frankfort.
Museum Plaza expects OK from Downtown Overlay Board
Tonight the developers of Museum Plaza will face the first of several government agencies which must give their blessings before the building can begin construction on September 27. The Downtown Development Review Overlay Board is expected to give the building their positive recommendations, but would like the developers to provide a few more details on several points, such as signage, more explanation of their landscaping and public art, and attempts to better connect the structure to the riverfront. Despite these questions, the building already conforms to nearly all standards for new development, and it is expected to pass all hurdles without issue.
Changes Along Bardstown Road
Louisville’s belovedly eclectic Bardstown Road is getting a small facelift. Phase 2 of a project that started last year will repave broken sidewalks and curbs, add new landscaping and decorative pavers, replace several bus stops, and add more trash receptacles. The project is being funded out of Councilman Tom Owen’s neighborhood development fund. In other local happening, the long abandoned Dillard’s at Bashford Manor may finally be razed and replaced by a small retail development to compliment the new big box stores that had replaced the majority of the old mall.
Henry Clay Finishes Up
Bill Weyland is putting in the final details of his 20 million dollar redo of the old YWCA. The building, which contains a mix of rentals and condos, is almost completely occupied – only 1 condo is left to be sold. First floor retail space is completely leased, and a new theatre is being installed for a local acting troupe. As a companion project, Weyland is renovating an adjacent building on Fourth Street into a Japanese restaurant, and rumors persist of a mid-rise hotel on the lot he owns directly behind the YWCA.
Mayor in Vegas Bringing Home New Retailers
Mayor Abramson took a trip out to Las Vegas this week to convince national retailers that Louisville is a place they want to be. Abramson had several meetings lined up while there with McCormick & Schmick’s, Nordstrom, Trader Joe’s, Crate & Barrel, and several others. The mayor as joined by numerous Louisville businessmen, including Todd Blue who is trying to line up tenants for his planned upscale Iron Quarter development in downtown. Trader Joe’s has already expressed a desire for 3 Louisville locations, and McCormick and Schmick’s has displayed interest in the new Louisville arena.
Todd Blue's Sales Pitch for the Iron Quarter
Monday, May 21, 2007
Arena Hotel Plans Dropped
In a turn of events that doesn't particularly shock me, the Louisville Arena Authority voted unanimously to drop plans for a 425 room hotel at the downtown arena site. In recent months, all photos of the planned arena have been devoid of the hotel tower that had originally been a part of the plans - today's vote simply removes the hotel officially.The members of the authority stated they are dropping the plans for the tower for several reasons: to make the design more pedestrian-friendly, to give the arena a better aesthetic, and because other hoteliers fear a glut of luxury hotel rooms downtown in 2010.
Personally, I really hoped the arena would get this tower, not so much for the skyline enhancement, but it was my opinion that if you're going to build an arena like this, you should do it up right. The market would absorb the hotel rooms, other hoteliers are simply trying to protect their markets, which is not exactly surprising. If it really is for aesthetic and pedestrian reasons, I would think they're ridiculous, and simply it's a lazy design - but I think that is simply a cop out by Jim Host. Whatever.
At the same meeting where they voted to scrap the hotel, they also received an updated financial statement reflecting the new reality. And who knows if this arena will make a profit, let alone break even, but today's financial report forecasts an operating profit of around 100k in the first year. I am of the opinion that even with a modest operating loss, the benefits of the arena outweigh the cost in new entertainment options and quality of life improvements for the area. Hopefully I will be proven wrong, but I fully expect the arena to lose money year after year, but as long as the amount isn't millions upon millions of dollars, then the investment will benefit Louisville.
As a small aside in the arena story, upscale seafood restaurant McCormick and Schmick's has expressed "strong interest" in locating inside the new arena. That would be a great tenant for them to land, and would keep the arena lively everyday of the year.
Monday, April 09, 2007
River City News Briefs
Downtown Holiday Inn Completes Renovations
The Charlestown Road corridor of New Albany continues to expand with the announcement of a 16,000 square foot building of Class A Office Space. The building is not large, yet it is significant for the Southern Indiana suburbs, because while they have been able to land plenty of new retail establishments and industrial users, they have nearly no white collar office jobs. In fact, Clark and Floyd counties combined have less than 350,000 square feet of Class A space. A local developer though hopes to help change that fact. He is building his new development near the entrance of the planned Purdue University business incubator and campus. He is banking that "if you build it, they will come." I hope so - Southern Indiana could certainly use some more high paying, quality jobs.
Local Groups Assess Needs of Fort Knox
Fort Knox is going through some growing pains. In 2005 the BRAC realignment meant that the local army installation will be seeing a net gain of 3,500 position - which will translate into around 12,000 new residents in area by mid 2010. Fort Knox and it's surrounding communities (such as Radcliff) are not yet fully prepared for the onslaught of new residents. So local groups are completing needed studies to identify areas of growth potential before the new residents get to town. In the report they're updating the local land-use study for county and municipal governments, they're looking at the local road needs, housing needs, retail and job needs. These new positions at Fort Knox will be one of the largest spurts of growth for the base in a very long time and local governments do not want to be caught unprepared as the local population swells.
New Albany Logistics Firm Adds 50 Employees
L&D Mail Masters, a local logistic firm, announced they will be adding almost 50 new employees to their workforce. The small, New Albany-grown business currently has 100 employees and 20 million dollars in revenue. Their expansion will mean an investment of 4.2 million dollars in buildings and equipment. Salaries will begin in the mid 30,000 dollar range.
The much maligned Holiday Inn Louisville-Downtown has finally completed a much needed 7.5 million dollar renovation project that includes newly refinished guest rooms, lobbies, meeting space, and restaurants. The new features include high speed Internet throughout the building, new fitness room and indoor jacuzzi, new contemporary lobby, new beds, and new fixtures in bathrooms. The hotel now also boasts an "upscale" eatery with patio seating on Broadway. The Holiday Inn is one of the last hotel properties in downtown to complete a major overhaul in recent years. Since the opening of the Louisville Marriott-Downtown, nearly all hotel properties in the CBD have completed major overhauls to compete in a tightening market. And with 1,300 rooms to be added by 2010, including an upscale Westin, downtown hotels will again need to reevaluate their conditions, and plan accordingly.
Developer Plans Class A Space for New Albany
The Charlestown Road corridor of New Albany continues to expand with the announcement of a 16,000 square foot building of Class A Office Space. The building is not large, yet it is significant for the Southern Indiana suburbs, because while they have been able to land plenty of new retail establishments and industrial users, they have nearly no white collar office jobs. In fact, Clark and Floyd counties combined have less than 350,000 square feet of Class A space. A local developer though hopes to help change that fact. He is building his new development near the entrance of the planned Purdue University business incubator and campus. He is banking that "if you build it, they will come." I hope so - Southern Indiana could certainly use some more high paying, quality jobs.Local Groups Assess Needs of Fort Knox
Fort Knox is going through some growing pains. In 2005 the BRAC realignment meant that the local army installation will be seeing a net gain of 3,500 position - which will translate into around 12,000 new residents in area by mid 2010. Fort Knox and it's surrounding communities (such as Radcliff) are not yet fully prepared for the onslaught of new residents. So local groups are completing needed studies to identify areas of growth potential before the new residents get to town. In the report they're updating the local land-use study for county and municipal governments, they're looking at the local road needs, housing needs, retail and job needs. These new positions at Fort Knox will be one of the largest spurts of growth for the base in a very long time and local governments do not want to be caught unprepared as the local population swells.
New Albany Logistics Firm Adds 50 Employees
L&D Mail Masters, a local logistic firm, announced they will be adding almost 50 new employees to their workforce. The small, New Albany-grown business currently has 100 employees and 20 million dollars in revenue. Their expansion will mean an investment of 4.2 million dollars in buildings and equipment. Salaries will begin in the mid 30,000 dollar range.
Tuesday, April 03, 2007
New Life for a Corner on Fourth?
After multiple proposals and rumors, it appears the Hilliard Lyons Building may finally get a new lease on life. The building, which is the former home of Stewart's Dry Good's Department Store, is being sold by PNC Financial Services to a Kentucky ex-pat who plans on renovating the majority of the building into a 250 room hotel.The sale will close by July 1 with a sale price of nearly 10 million dollars. Renovations could cost as much as 30 million.
The building, with nearly 350,000 square feet of space, will not entirely be turned into a hotel. Office space, residential, and a substantial retail portion, are all also possible. The renovations will maintain the historic facades, and bring life to corner that is seen as a lynchpin of further Fourth Street redevelopment. The developer has stated Hilton may possibly manage the new hotel as an Embassy Suites, but nothing of yet is set in stone.
The Hilliard Lyons Building has had at least one other development plan in the last year, and was the topic of yet more speculation. There was a plan in 2006 to turn the building into office space, UofL Graduate Program space, and several clubs; that plan quickly died. There was also a proposal kicked around to turn it and the nearby Starks Building into a massive 1000+ room hotel, but that dissolved when the Starks Building was purchased by a California investment firm with plans to renovate that building into Class A office space with restaurants on the ground level.
This hotel is yet another addition to the 1000+ rooms that are currently under construction or planned in the CBD. There is also a rumored midrise hotel that is planned at the corner of Fourth and Chestnut, directly connected to the Henry Clay Building. Developers there already own the cleared lot and are just finishing up with their renovations of the Henry Clay.
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.
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.
Monday, March 12, 2007
Museum Plaza Gets Government Nod
In typical Kentucky style, the state legislature is down to the wire in passing major bills - and one of those major bills is the one supporting the Museum Plaza project in downtown Louisville. Amazingly enough it has now passed both chambers of the legislature is on it's way to the desk of the governor.
Thank God.
In recent days things seemed to not be going well for the Museum Plaza bill - it wasn't taken up by the Senate quickly, and the Senate President said initially he has some misgivings about the law. However, he ended up championing the bill and it passed his chamber with only 1 vote in opposition. House and Senate leaders patted themselves on the back and explained how this building is not going to only transform the skyline of Louisville, but will help the reputation of the entire state of Kentucky.
Governor Fletcher has already said he will sign the bill into law, and developers of Museum Plaza have commented that this project is a slam dunk with this law. Shovels will be turning dirt by late summer.
Thank God.
In recent days things seemed to not be going well for the Museum Plaza bill - it wasn't taken up by the Senate quickly, and the Senate President said initially he has some misgivings about the law. However, he ended up championing the bill and it passed his chamber with only 1 vote in opposition. House and Senate leaders patted themselves on the back and explained how this building is not going to only transform the skyline of Louisville, but will help the reputation of the entire state of Kentucky.
Governor Fletcher has already said he will sign the bill into law, and developers of Museum Plaza have commented that this project is a slam dunk with this law. Shovels will be turning dirt by late summer.
Friday, March 02, 2007
UofL Health Campus' New Masterplan
The University of Louisville health campus in downtown Louisville is one of the great economic engines of the region. Inside those buildings, researchers have pioneered such medical breakthroughs as the first hand transplants, are on the cutting edge of mechanical hearts, and are American leaders in the research of full face transplants. Researchers and doctors at the health campus are truly making a difference for the community and the field of medicine.
That is why it is important to give this complex of research and patient care buildings a new vision for growth in the future; and last week UofL did just that with a new strategic master plan for the downtown campus.
The original master plan was crafted nearly 15 years ago, and has been a good document from which to base the growth of the campus, but times have changed and the needs of today are different from the early 1990's. By the year 2027, the campus is expected to double in size, and to accommodate the growth, some changes are going to be made in the area.
One major new component of the campus will be a pedestrian-only corridor to replace a secluded alley and loading dock area. Along this new pedestrian corridor, you will find a small "urban forest" to give patients a secluded location to get away and meditate. There are also 10 new buildings that have been identified for the future, several of which are already under construction or in the planning process. Currently there are several large surface lots that are expected to become buildings in the future, and to replace those lost parking spots, two more parking structures are proposed. Along with those new strucures, the new VA Hospital is expected to be built in the UofL campus. A southern gateway is also to be built as to better differentiate the campus from the surrounding area.
Right now UofL has several new buildings under construction in the campus - including two research buildings and one patient care complex that will be used by doctors from University Hospital. The years to come, however, promise even larger changes.
That is why it is important to give this complex of research and patient care buildings a new vision for growth in the future; and last week UofL did just that with a new strategic master plan for the downtown campus.
The original master plan was crafted nearly 15 years ago, and has been a good document from which to base the growth of the campus, but times have changed and the needs of today are different from the early 1990's. By the year 2027, the campus is expected to double in size, and to accommodate the growth, some changes are going to be made in the area.
One major new component of the campus will be a pedestrian-only corridor to replace a secluded alley and loading dock area. Along this new pedestrian corridor, you will find a small "urban forest" to give patients a secluded location to get away and meditate. There are also 10 new buildings that have been identified for the future, several of which are already under construction or in the planning process. Currently there are several large surface lots that are expected to become buildings in the future, and to replace those lost parking spots, two more parking structures are proposed. Along with those new strucures, the new VA Hospital is expected to be built in the UofL campus. A southern gateway is also to be built as to better differentiate the campus from the surrounding area.
Right now UofL has several new buildings under construction in the campus - including two research buildings and one patient care complex that will be used by doctors from University Hospital. The years to come, however, promise even larger changes.
Sunday, February 25, 2007
RiverPark Place Begins
The long awaited RiverPark Place development along the banks of the Ohio River will finally have it's ground breaking this week. On Friday, March 2, city officials and project developers will meet to ceremoniously turn the dirt on this long awaited project. Site prep has been taking place for the last several months, but this will mark the beginning of "official" work.
Phase 1 of the project will run a cool 200 million dollars, and will include two 14 story towers, a river esplanade, as well as a collection of low-rise condos and apartments, office space, a marina, and restaurants. This will be one of the densest projects to be built in the urban core in many years - and it will combine many different uses to create a vibrant community.
This project has been in the making for nearly 20 years. The exact same site that is being built upon today once had a similar development planned for it in the early 1990's, but those plans fell apart in the late 90's when financial support couldn't be found.
Today, the project is full steam ahead - and if phase 1 is successful, multiple other phases have already been conceived that include six more 14 story towers along the river and could total 500 million more dollars in investment. This project is huge, and is a boon for the city of Louisville.
My one beef with this project is the "safe" architectural stylings they used. The design isn't offensive at all - it just seems, well, a little bland. I feel as if I could pick up RiverPark Place and put it in any Southern boom town, and it would look as if it completely belonged there. I realize there is a market for this type of architecture, and i am not saying the design is actually bad, I just think it is a bit boring and I wish we could have seen something that is a bit more original, or even revolutionary.
Despite my critique, i still think the project is going to be a huge boost or the city and for urban living in the core. It will be a huge draw for the unique waterfront setting and the new neighborhood it will anchor - here's to hoping they're wildly successful!
Phase 1 of the project will run a cool 200 million dollars, and will include two 14 story towers, a river esplanade, as well as a collection of low-rise condos and apartments, office space, a marina, and restaurants. This will be one of the densest projects to be built in the urban core in many years - and it will combine many different uses to create a vibrant community.
This project has been in the making for nearly 20 years. The exact same site that is being built upon today once had a similar development planned for it in the early 1990's, but those plans fell apart in the late 90's when financial support couldn't be found.
Today, the project is full steam ahead - and if phase 1 is successful, multiple other phases have already been conceived that include six more 14 story towers along the river and could total 500 million more dollars in investment. This project is huge, and is a boon for the city of Louisville.
My one beef with this project is the "safe" architectural stylings they used. The design isn't offensive at all - it just seems, well, a little bland. I feel as if I could pick up RiverPark Place and put it in any Southern boom town, and it would look as if it completely belonged there. I realize there is a market for this type of architecture, and i am not saying the design is actually bad, I just think it is a bit boring and I wish we could have seen something that is a bit more original, or even revolutionary.
Despite my critique, i still think the project is going to be a huge boost or the city and for urban living in the core. It will be a huge draw for the unique waterfront setting and the new neighborhood it will anchor - here's to hoping they're wildly successful!
Thursday, February 22, 2007
Louisville's City of Parks
Louisville is a city that has long prided itself on the stunning system of parks and parkways that were designed for us by the landscape architect genius Frederick Law Olmsted. The father of landscape design molded the Louisville landscape into one of his largest and best pieces of work. His amazing labors have helped to form the Louisville psyche and our reverence for large, urban green spaces.
This is a love and passion that is alive and well in the Louisville of the 21st century, just as it was in the 19th century when our grand park system was planned and dreamed of. We can see our love of urban green space in the new Riverfront Park in downtown, which has won award after award for it's reclamation of industrial brown fields and it's innovative design. We see it in the preservation of our legacy in the Olmsted system that we have cherished for well over a century - and we see it in the renewed vision and invigoration of these magnificent public spaces. Beyond our renewed focus on our downtown park and Olmsted masterpieces, we find Louisville striving for the next great step in urban parks. This new focus has led to the creation of the "City of Parks" initiative.
The "City of Parks" initiative has been a dream of Louivillians for decades, however it was only recently that events have been set into motion that will create a new "emerald necklace" around the city's periphery. The master plan is still being created, however many of those documents are expected to released to the public in Fall 2007.
Still, before those master plans are released, we already know many of the large-scale efforts and expectations:
- A new trail will link the "big 3" parks from the original Olmsted system, along with many improvements to the original city parks.
- A trail of more than 100 miles will surround the city - linking downtown to all the suburbs in Jefferson County.
- A "recreation corridor" along River Road just east of downtown.
- The Jefferson Memorial Forest, already America's largest urban forest, will expand.
- Floyd's Fork, a stream that cuts through eastern Jefferson County, will be the focus point of more than 30 miles of trails, and several new large parks - many of which will be larger than Cherokee Park in the Highlands of Louisville.
- Protection of the watershed of Floyd's Fork.
- Addition of new sports fields and recreation opportunities along the Floyd's Fork route.
This project is not some pie-in-the-sky dream that the city is going slowly about in completing - they're actually moving forward at a breakneck pace.
Sen. Mitch McConnell has already secured millions of dollars in federal funding in last year's budget, and local philanthropist and businessman David Jones has been kneading the local professional community for donations of land and money. Jones has been highly successful, raising in excess of 35 million dollars, and convincing local landholders to donate thousands of acres of land to the Jefferson Memorial Forest and donate the land needed to build the new parks along the Floyd's Fork.
Just last week Jones was able to buy 175 acres near the Bullitt County line that adjoins another 114 acres he secured in December. Jefferson Forest added 400 acres in December and hundreds of more acreage has been stockpiled for this project even before that. Other stories from just this last week chronicle the efforts that civic leaders are doing to make this project a reality.
The "City of Parks" project is the first large scale park building and renovation project in Louisville in more than 100 years. Based on what I've seen so far, it is my opinion that these parks in the suburban areas will be as beautiful and well used as the parks in the urban core. These parks are also going to sort of "make or break" our suburban areas.
These park projects are currently in rural Jefferson County, where residential and commercial development has not yet swallowed up all available land. Nearly all of the land currently expected to become parkland is farmland or horse pasture and is surrounded by very sparse residential homes. Yet, suburban development is quickly encroaching on the area - hence the need for speed in acquiring all the land for this project.
These parks - and the ensuing development around them - will become a defining feature of suburban Louisville and speak to our city's collective personality. The question is, what will it say about us? Will we work together and create a true enhancement to the original Olmsted system only to build typical vinyl-sided homes on cul-de-sacs in the surrounding neighborhoods? Will we build walls around the parks and only have a few automotive entrances? (Besides the "decorative" walking trail connectors?)
Or will we learn from the amazing examples we already have in the urban core. We already can see the great neighborhoods that can be created when we weave them together seamlessly with great public spaces - will we let that be our guide in a new format that is suitable for the suburbs? I can say that I hope so, but the public will have as much to say on that as does the city government.
Louisville really is a city of fantastic parks and this project will only solidify the city's commitment to that reputation - let's hope we're able to take these new public spaces and graft them onto our city's urban life equally as well as we have done with the parks of our past.
Thursday, February 15, 2007
Zirmed's New Tower
So the rumors were true.
Yet another parking lot in the city's core is going to be filled by a mixed-use project.
On Thursday afternoon the mayor is going to announce a new project for the western section of downtown Louisville - The Zirmed Gateway Towers. (unwieldy name if you ask me)
The project is being spearheaded by downtown Louisville developer Bill Weyland. Weyland, if you didn't already know, is one of the key figures in the renaissance of downtown Louisville in recent years. His company, City Properties, has rehabbed and built several major projects in downtown since 2000. His most current project, the YWCA conversion on Third Street, is now in the finishing stages. He owns a gravel lot fronting Fourth Street that is rumored to be the site of a new mid-rise hotel/residential project. He is also currently renovating a shuttered building on Fourth Street into a new upscale Japanese restaurant. Perhaps his most famous project is one of his older ones - the Glassworks Building on the west side of downtown.
When originally conceived, the Glassworks Building was supposed to be the first anchor in a new Glassworks District. The Glassworks District was envisioned in the early days of former mayor Armstrong's administration. Plans called for an expansive area of homes, offices, and glass-working artists. Phase 1 of the project was the wildly successful renovation of the Snead Manufacturing Building - now known as simply the Glassworks Building. Phase 2, which immediately followed phase 1, was the relatively small conversion of a day-work jail into space for artists. This was completed early in the decade. Since then, nothing has happened.
In fact, the Glassworks District concept had all but evaporated, and many Louisvillians forgot about the project altogether. That all changed today when it was revealed that phase 3 will be two new mid-rise towers on a gravel lot currently across the street from the original Glassworks Building.
The two new towers, at the corner of Market and Roy Wilkins, will rise 12 and 10 stories into the air. With that number of floors, the buildings will be well over 100 feet tall. They will help to form a new gateway for western downtown Louisville when exiting to Ninth Street from I-64.
On Thursday afternoon the mayor is going to announce a new project for the western section of downtown Louisville - The Zirmed Gateway Towers. (unwieldy name if you ask me)
The project is being spearheaded by downtown Louisville developer Bill Weyland. Weyland, if you didn't already know, is one of the key figures in the renaissance of downtown Louisville in recent years. His company, City Properties, has rehabbed and built several major projects in downtown since 2000. His most current project, the YWCA conversion on Third Street, is now in the finishing stages. He owns a gravel lot fronting Fourth Street that is rumored to be the site of a new mid-rise hotel/residential project. He is also currently renovating a shuttered building on Fourth Street into a new upscale Japanese restaurant. Perhaps his most famous project is one of his older ones - the Glassworks Building on the west side of downtown.
When originally conceived, the Glassworks Building was supposed to be the first anchor in a new Glassworks District. The Glassworks District was envisioned in the early days of former mayor Armstrong's administration. Plans called for an expansive area of homes, offices, and glass-working artists. Phase 1 of the project was the wildly successful renovation of the Snead Manufacturing Building - now known as simply the Glassworks Building. Phase 2, which immediately followed phase 1, was the relatively small conversion of a day-work jail into space for artists. This was completed early in the decade. Since then, nothing has happened.
In fact, the Glassworks District concept had all but evaporated, and many Louisvillians forgot about the project altogether. That all changed today when it was revealed that phase 3 will be two new mid-rise towers on a gravel lot currently across the street from the original Glassworks Building.
The two new towers, at the corner of Market and Roy Wilkins, will rise 12 and 10 stories into the air. With that number of floors, the buildings will be well over 100 feet tall. They will help to form a new gateway for western downtown Louisville when exiting to Ninth Street from I-64.
The main tenant will be Zirmed, which in mid-2006 announced it had outgrown it's current space along West Main, and needed to consolidate operations in a bigger space. And they wanted a landmark building to showcase their epic growth. With his announcement, they will get both of their wishes. They will lease 45,000 square feet of space in the buildings, leaving another 35,000 feet for another tenant. There will be a new restaurant and catering business to be headed by Jeff Jarfi, and space for another large retail tenant. The buildings will also offer 15 to 20 condos, ranging in price from 300,000 dollars to 500,000 dollars. Several units have already been reserved.
Phase 3 will also include a 285 spot parking garage. A small parcel of land will be left undeveloped on the lot for an anticipated phase 4 - perhaps to be small hotel or another residential project.
Financing has been secured through several national banks, and construction is expected to begin in March. The city of Louisville offered the developers a 600,000 dollar low interest loan through a program started in the early 2000's and the city will spend around 180,000 dollars to bury power line, plant trees, and install other beautification elements.
Phase 3 will also include a 285 spot parking garage. A small parcel of land will be left undeveloped on the lot for an anticipated phase 4 - perhaps to be small hotel or another residential project.
Financing has been secured through several national banks, and construction is expected to begin in March. The city of Louisville offered the developers a 600,000 dollar low interest loan through a program started in the early 2000's and the city will spend around 180,000 dollars to bury power line, plant trees, and install other beautification elements.
Wednesday, February 07, 2007
Two High Schools Announce Downtown Plans
Two local high schools that are located downtown released plans for expansion last week:
Presentation Academy released initial plans to build a new gymnasium and arts wing on a lot they purchased at Fourth and Breckenridge in the SoBro "neighborhood" adjoining downtown. Currant plans show a building on the southwest corner of their lot with a large structure that will contain a gymnasium, theatre, and class space for art. The building will cost over 5 million dollars, and a private campaign will commence soon to raise the money needed.
This plan, which will develop and bring some vitality to a relatively quiet block in the city's core, has one hitch: to build this new expansion, they will have to raze a building with some historic value for it's Art-Deco form. The 900 Building, which has been abandoned for years, will not be incorporated into the design. Some local preservationists have objected to this planned demolition, pointing out the historic value to the structure.
Despite the value of the current building, only a few people have openly assailed this project. And with the prospect of new investment at the site and some renewed energy, don't expect the city to block the plans.
The other announced expansion plan was by St. Francis High School at Third and Broadway. They recently purchased the former YMCA building and garage. Their announced intentions are to invest some money into the garage while the school completes a long term study of their needs for this new building. Eventually the property will house an expansion at St. Francis.
These school expansions are helping to solidify to foundation of downtown as a place for Louisvillians to congregate, live, work, and educate their children. Projects such as these bring in another element to a downtown - and a needed one. They make downtown useful to other demographics than just your 20-somethings who want to buy a condo and go to Fourth Street Live. These types of projects bring teenagers and families to the core more often, fostering a sense of safety and vitality, even on days when there are not huge events going on downtown.
Besides the "blockbuster" projects currently planned for downtown, these types of projects bring in your typical Louisvillians to the core on a consistent basis, not only for "high-minded" uses, such as museum, art galleries, and high-end restaurants. These types of uses are equally as important as others because they convince citizens that downtown is for everyone and all uses, not just out-of-towners and conventioneers.
Downtown needs to encourage uses such as this to keep the core relevant to the lives of typical citizens.
Presentation Academy released initial plans to build a new gymnasium and arts wing on a lot they purchased at Fourth and Breckenridge in the SoBro "neighborhood" adjoining downtown. Currant plans show a building on the southwest corner of their lot with a large structure that will contain a gymnasium, theatre, and class space for art. The building will cost over 5 million dollars, and a private campaign will commence soon to raise the money needed.
This plan, which will develop and bring some vitality to a relatively quiet block in the city's core, has one hitch: to build this new expansion, they will have to raze a building with some historic value for it's Art-Deco form. The 900 Building, which has been abandoned for years, will not be incorporated into the design. Some local preservationists have objected to this planned demolition, pointing out the historic value to the structure.
Despite the value of the current building, only a few people have openly assailed this project. And with the prospect of new investment at the site and some renewed energy, don't expect the city to block the plans.
The other announced expansion plan was by St. Francis High School at Third and Broadway. They recently purchased the former YMCA building and garage. Their announced intentions are to invest some money into the garage while the school completes a long term study of their needs for this new building. Eventually the property will house an expansion at St. Francis.
These school expansions are helping to solidify to foundation of downtown as a place for Louisvillians to congregate, live, work, and educate their children. Projects such as these bring in another element to a downtown - and a needed one. They make downtown useful to other demographics than just your 20-somethings who want to buy a condo and go to Fourth Street Live. These types of projects bring teenagers and families to the core more often, fostering a sense of safety and vitality, even on days when there are not huge events going on downtown.
Besides the "blockbuster" projects currently planned for downtown, these types of projects bring in your typical Louisvillians to the core on a consistent basis, not only for "high-minded" uses, such as museum, art galleries, and high-end restaurants. These types of uses are equally as important as others because they convince citizens that downtown is for everyone and all uses, not just out-of-towners and conventioneers.
Downtown needs to encourage uses such as this to keep the core relevant to the lives of typical citizens.
Friday, February 02, 2007
Crisis Averted
Two days after the developers of Museum Plaza and the city's Convention and Visitor's Bureau appeared to be headed to battle, the crisis was averted.
At issue were the plans by Museum Plaza to use 80% of the Westin's room taxes on public infrastructure improvements instead of being handed over to tourism officials. In his hallmark fashion, the mayor quickly gathered both sides and sat them down to create a compromise - and it didn't even take 24 hours.
Under the plan crafted by both sides, Museum Plaza will keep the first 400,000 each year of the hotel taxes for public infrastructure upgrades. Every year that 400,000 dollars "cap" will grow by 4% for the 30 year life of the TIF district. All revenues above this will go to tourism officals.
This compromise still has to be approved by the State Legislature, but now tourism officials will give Museum Plaza their support, and the plans are expected to be rubberstamped by the state.
I'm just happy they got this resolved quickly. Now, let's get ground broken!
At issue were the plans by Museum Plaza to use 80% of the Westin's room taxes on public infrastructure improvements instead of being handed over to tourism officials. In his hallmark fashion, the mayor quickly gathered both sides and sat them down to create a compromise - and it didn't even take 24 hours.
Under the plan crafted by both sides, Museum Plaza will keep the first 400,000 each year of the hotel taxes for public infrastructure upgrades. Every year that 400,000 dollars "cap" will grow by 4% for the 30 year life of the TIF district. All revenues above this will go to tourism officals.
This compromise still has to be approved by the State Legislature, but now tourism officials will give Museum Plaza their support, and the plans are expected to be rubberstamped by the state.
I'm just happy they got this resolved quickly. Now, let's get ground broken!
Wednesday, January 31, 2007
Could a Museum Plaza Battle be Brewing?
Museum Plaza, the revolutionary skyscraper that is planned for the Louisville waterfront, got it's first dose of opposition today from an unlikely source - The Convention and Visitors Bureau and various hotel associations across the Commonwealth. At issue is a special funding break that will be granted to the developers of Museum Plaza by the State Legislature.
In a nutshell, this project will be massive. And to help the developers recoup much of their investments in public infrastructure the city crafted a plan to rebate certain taxes - one of them being the hotel room tax. This change must be approved by the state.
Hotel associations are against this change for several reasons - the most glaring reason is because this will divert funds away from their groups. (Hotel rooms taxes help pay for these types of associations) Their stated reason is because this type of action will lead to other developers wanting the same sorts of changes.
Their first reason to opposition is terribly short-sighted. A complex such as Museum Plaza will be a huge draw for the city of Louisville, and will only improve the city's tourist and cultural attractions. This will eventually spur more business for their members.
Their stated reason is also, well, silly in my opinion. If there ever has been a project in Kentucky that has ever needed tax rebates, this may be the best example in decades. This building is everything and more that a city like Louisville could ever wish for. It is multi-use, daring, and awe-inspiring. This is a building that will be noticed worldwide. Chances like this are once in a century.
If there are ever other hotel projects in Kentucky that are massive on a scale like this, I don't see what the problem would be to rebate those projects taxes too into the public infrastructure needs, instead of being diverted to these hotel associations and other uses. But to think that suddenly there is going to be a string of Motel 6's and Comfort Inn's clamoring and gaining tax rebates like this is absurd. Monumental projects deserve special consideration.
On the other end of the spectrum are the developers of this 465 million dollar project saying that if this doesn't pass as is currently planned, then all their dreams and hopes are dashed and they will cancel the project - that's hogwash. They're trying to get the absolute best deal possible for themselves. The Visitors Bureau threw down the gauntlet and the MP developers threw up the scare tactics.
When this little debate get to the State Legislature I would put my chips with Museum Plaza. You've got the Jefferson County members for it, the mayor, and the governor. Not to mention some of Kentucky's richest citizens. This will either pass to the benefit of MP or a quiet compromise will be reached and we'll be left scratching our heads as to why this even was an issue.
The Visitors Bureau does not want to see this project disappear and the developers are not going to make this issue the ball buster they want you to think it is. MP will get what it wants, or at the very least, a compromise they're willing to live with, and Louisville will get this landmark.
But for goodness sake, can you keep the squabbling to a minimum?
In a nutshell, this project will be massive. And to help the developers recoup much of their investments in public infrastructure the city crafted a plan to rebate certain taxes - one of them being the hotel room tax. This change must be approved by the state.
Hotel associations are against this change for several reasons - the most glaring reason is because this will divert funds away from their groups. (Hotel rooms taxes help pay for these types of associations) Their stated reason is because this type of action will lead to other developers wanting the same sorts of changes.
Their first reason to opposition is terribly short-sighted. A complex such as Museum Plaza will be a huge draw for the city of Louisville, and will only improve the city's tourist and cultural attractions. This will eventually spur more business for their members.
Their stated reason is also, well, silly in my opinion. If there ever has been a project in Kentucky that has ever needed tax rebates, this may be the best example in decades. This building is everything and more that a city like Louisville could ever wish for. It is multi-use, daring, and awe-inspiring. This is a building that will be noticed worldwide. Chances like this are once in a century.
If there are ever other hotel projects in Kentucky that are massive on a scale like this, I don't see what the problem would be to rebate those projects taxes too into the public infrastructure needs, instead of being diverted to these hotel associations and other uses. But to think that suddenly there is going to be a string of Motel 6's and Comfort Inn's clamoring and gaining tax rebates like this is absurd. Monumental projects deserve special consideration.
On the other end of the spectrum are the developers of this 465 million dollar project saying that if this doesn't pass as is currently planned, then all their dreams and hopes are dashed and they will cancel the project - that's hogwash. They're trying to get the absolute best deal possible for themselves. The Visitors Bureau threw down the gauntlet and the MP developers threw up the scare tactics.
When this little debate get to the State Legislature I would put my chips with Museum Plaza. You've got the Jefferson County members for it, the mayor, and the governor. Not to mention some of Kentucky's richest citizens. This will either pass to the benefit of MP or a quiet compromise will be reached and we'll be left scratching our heads as to why this even was an issue.
The Visitors Bureau does not want to see this project disappear and the developers are not going to make this issue the ball buster they want you to think it is. MP will get what it wants, or at the very least, a compromise they're willing to live with, and Louisville will get this landmark.
But for goodness sake, can you keep the squabbling to a minimum?
Shake-up on Fourth Street
A legal battle has been brewing for the last several months at the popular downtown Fourth Street Live complex. Three clubs which are original to the project have been given notices of eviction by the Baltimore based Cordish Company for being behind in their rent to the tune of over 250,000 dollars.
The three clubs in question are located on the second level of the complex and due to an extra admission fee have said that they've lost over half of their business. They point to other establishments in the complex that are not forced to charge an admission fee and see this as a bias against them. In spite of order of eviction and the back rent, the clubs owners say they plan to fight it in court.
Cordish has already announced a replacement to take all of the space that these clubs are supposed to vacate. Besides this legal battle, Fourth Street Live recently endured the closing of the Fashion Shop retail store due to a company reorganization.
Fourth Street Live had over 4 million visitors last year and was one of the state's largest tourist draws. Cordish, which has long promised an expansion, also has dropped hints of them acquiring land at the nearby Water Company block. After they pulled out of the JCPenney Building last year, it seemed that their plans for expansion in Louisville had died. However, the mayor has been hinting for months now that major developers were interested in the Water Company site, and it appears Cordish is one of the suitors. If they do buy the land, lets hope they build something a little more unique...while Fourth Street Live is a great draw for downtown, it definitely could use a more unique and local flavor.
The three clubs in question are located on the second level of the complex and due to an extra admission fee have said that they've lost over half of their business. They point to other establishments in the complex that are not forced to charge an admission fee and see this as a bias against them. In spite of order of eviction and the back rent, the clubs owners say they plan to fight it in court.
Cordish has already announced a replacement to take all of the space that these clubs are supposed to vacate. Besides this legal battle, Fourth Street Live recently endured the closing of the Fashion Shop retail store due to a company reorganization.
Fourth Street Live had over 4 million visitors last year and was one of the state's largest tourist draws. Cordish, which has long promised an expansion, also has dropped hints of them acquiring land at the nearby Water Company block. After they pulled out of the JCPenney Building last year, it seemed that their plans for expansion in Louisville had died. However, the mayor has been hinting for months now that major developers were interested in the Water Company site, and it appears Cordish is one of the suitors. If they do buy the land, lets hope they build something a little more unique...while Fourth Street Live is a great draw for downtown, it definitely could use a more unique and local flavor.
Tuesday, January 23, 2007
Museum Plaza Updated
On Monday, January 22, the developers, architects, and collaborators of the skyline-altering Museum Plaza unveiled some new details about the 465 million dollar project.
Here is your "Cliff Notes" version of the project:
The most recent update did not provide a whole lot of new details, but did give a more clear vision of how the building will be integrated into the surrounding environment. The public plaza at ground level is being designed by the Dutch firm West 8. They will create a seamless connection to the Ali Center to the east and complete the first step needed to start a west downtown renaissance with the complete "redo" of Fort Nelson Park and it's connection to the community.
This project is incredibly exciting, and is perhaps the boldest project to be proposed in the South/Midwest (outside Chicago) in decades. It is one of the largest urban projects in the US in recent history and I cannot say how proud I am to have this built in Louisville.
Here is your "Cliff Notes" version of the project:
-62 stories on the block bounded by 7th on the east, 8th on the west, Main to the south, and River to the north.
- 703 feet tall, 1.5 million square feet of total space
-Underground parking with 800 spots
-246 room Westin Hotel with a ballroom, spa, restaurant
-Public "Art Hall" for constantly changing art exhibits, UofL Master of Fine Arts Program, Several Art Galleries
-99 Condos, 117 Studio-Lofts
-New public space at ground level with connection to Muhammad Ali Center, recreation of Fort Nelson Park, demolition of electric tower, picnic spaces, sports playing fields
-Official groundbreaking is now expected to happen in May or June
The most recent update did not provide a whole lot of new details, but did give a more clear vision of how the building will be integrated into the surrounding environment. The public plaza at ground level is being designed by the Dutch firm West 8. They will create a seamless connection to the Ali Center to the east and complete the first step needed to start a west downtown renaissance with the complete "redo" of Fort Nelson Park and it's connection to the community.
This project is incredibly exciting, and is perhaps the boldest project to be proposed in the South/Midwest (outside Chicago) in decades. It is one of the largest urban projects in the US in recent history and I cannot say how proud I am to have this built in Louisville.
Sunday, January 21, 2007
Museum Plaza Updates TOMORROW
Museum Plaza - the most exciting development in Lousville in the past half century - will be hosting a forum and update tomorrow morning at 1030 EST.
Until then, here is a rendering from REX Architects.
Subscribe to:
Posts (Atom)
