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.

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.

PharMerica in the Suburbs and Louisville's Genlyte

On Friday it was reported that Louisville's newest corporate citizen would by planting it's roots in suburban Jefferson County - off of Blankenbaker Parkway in Jeffersontown to be more precise.

The new 2 billion dollar company will fill the space that was vacated over a year ago when Anthem Blue Cross/Blue Shield built a new suburban building at Eastpoint Business Center and consolidated their operations. PharMerica is expected to lease nearly 100,000 square feet of space in the Blankenbaker Crossings building for their 300 to 350 new employees.

PharMerica looked at three locations in Louisville - 2 suburban and 1 downtown - before settling on Blankenbaker Crossing. Jeffersontown's mayor has commented that the city will bend over backwards to support the new company in any possible ways.

While I think it is a missed opportunity for the downtown core to score this fantastic, growing company...it is a win for the Louisville business community to have them settle roots here. The number of Fortune 1000 companies has been reduced in the last decade with RJ Reynolds being acquired and moved to North Carlina and the takeover of LG&E in the mid 90's by German electric conglomerate E.ON. Thankfully for the latter company, LG&E was basically left unchanged and E.ON made Louisville it's US Headquarters - although that still isn't quite as nice as having LG&E as our own Fortune 1000 company again.

Fortune 1000 companies are a point of pride for any community, and it is one indicator of a regions general economic strength and importance. Fortune 1000's are not the only indicators, o even the single most important one, but it is still great to have as many as possible.

It is because of this that I am excited about recent news from Louisville-based Genlyte. Genlyte is a homegrown company that has experienced explosive growth and is acquiring companies left and right, like last weeks announced acquisition of Pennsylvania-based lighting manufacturer, Hanover Lantern.

Genlyte's 2006 revenues were announced to be 1.48 billion dollars. Had Genlyte posted that number in 2005, they would have easily made Fortunes 1000 list. But last year they had sales of 1.2 billion - nearly 200 million dollars short of breaking into the top 1000 public companies. Revenue is up nearly 25 percent this year from last, and if they don't make the Fortune list for 2006, there is no doubt they will make the cut for 2007.

Louisville has a reputation of plodding along without much growth - and to a degree that has been very true. But times are changing, not just for Louisville, but for Kentucky. Kentucky is expected to ride the next wave of Southern expansion as people start looking for places that aren't yet saturated - such as Florida, Georgia, or Texas. This means we'll start seeing more economic diversity, more local companies, and greater opportunity.

Recent economic news from Louisville has been very bright, indeed. And I expect that momentum to continue. Not every week will bring with it a new company or large expansion, but Louisville will continue to do what it does best - nurture small groups and daring entrepreneurs. That's how Genlyte started. And Smoothstone. And Zirmed. And a whole slew of others.

Louisville has a lot of baggage to overcome...but slowly, we're turning the corner, and news like these recent developments, only embolden us more.

Louisville's Bridge Woes

In the latest installment of the drama-mystery series, The Ohio River Bridges Project, it was announced that the total cost of the project will soar to a staggering 3.9 BILLION dollars. The 60 percent jump in the price tag come from new inflation corrections to the previous estimate of a modest 2.5 billion dollars.

This latest news, which was originally announced in December 2006, has caused many Kentucky lawmakers to recoil from their stated support of the multi-state, multi-decade project. In the most current 6 year road plan, Kentucky has promised nearly 800 million dollars to the project, but that could be slashed in the 2008 Legislative Session if compromise and different funding measures cannot be worked out.

Several new theories are being floated around for alternative funding - and one of the most basic ways would be to make the new bridge in the East End a toll bridge. However, that option was thrown out early on as studies indicated that a toll bridge would slow traffic greatly and toll proceeds would not meet outlays due to decreased numbers of people who would be willing to drive across a pay-per-use bridge. This option though is getting at least a temporary reprieve as analysts will look for new ways to squeeze a penny out of a dry sponge.

If tolls prove to be unsavory, then what about a TIF district? That is actually a new proposal that hadn't been widely discussed earlier in the project. But if that were an option, where would it go? Would the state be able to capture taxes from predominantly residential Prospect? Or would the TIF grow huge and also encompass nearby commercial districts? Who knows? No one right now, but at least the option is on the table.

What about a public-private partnership? I don't even know what this would entail. The only way I can see a private company making money from a venture like this is tolls, and we already know that leaders are quite averse to using that funding line. Unless we can name the bridge the McDO Bridge of DOOM!!! with plasma screens bedecking the whole thing advertising Big Macs and milkshakes, I dunno how a private partnership would work. Someone with more knowledge on this option should leave a comment.

In today's Courier-Journal, there was a mention of funding with the help of developers. The story said that, for example, let developers build hotels as a part of the project. I suppose they mean that the new taxes from these hotels could partially help the defray the cost of the bridges - but since when will these new bridges require new hotels to be built? This option also needs more explaining.

Now, the total cost of the project is right on the cusp of 4 billion dollars if, and only if, it is completed in 2023. We can still reduce the time needed, accelerate the process, and get it built at the original 2.5 billion dollar mark...or at least that is what we're being told. And I have to say that while I dunno if the project would cost only 2.5 billion dollars, I do bet it would cost less than 4 billion dollars if Kentucky would pull it's head out of it's behind and push forward.

Mitch Daniels(R), the governor of Indiana, promised to fully fund the Indiana portion of the project (approximately 1/3) with money he got from Indiana's Major Moves initiative. He even went to Kentucky to ask them to fully fund their portion of the bill and get this project built 10 years ahead of schedule. Daniels made the argument that waiting is only costing both states more money and costing both states jobs. Daniels has been very wise to extol the economic possibilities of Clark County, and the Indiana suburbs of Louisville, and sees the area as one of Indiana's brightest spots for development. The Indiana suburbs, with a population of over 265,000, are comparable to other Indiana cities such as Lafayette, Evansville, and South Bend. The area is even larger than Terre Haute or Kokomo...and most Hoosiers don't realize so many people live in the Southern Indiana suburbs...but Mitch Daniels does.

Now, some people may wonder how Daniels found his needed 900 million dollars, or so, for the Indiana side of these new bridges. He made a bold and daring gamble - he sold the Indiana Toll Road in Northern Indiana to a private firm and raked in BILLIONS of dollars for other state projects. With his money he will fund I-69 from Indianapolis to Evansville, building the bridges to Louisville, completely overhaul US 31 from Carmel to South Bend, and complete the Hoosier Heartland Highway from Lafayette to Fort Wayne...along with hundreds of smaller state needs.

Now, I look at that and wonder, how can Kentucky do the same thing? The problem is, that while Kentucky has several toll highways, none of them a very highly used, and the current trend in the Fletcher administration has been to turn toll roads into freeways. Sadly, all of Kentucky's major highways are freeways, and you can't simple sell a freeway to a private company to make it into a tollway. So a Mitch Daniels-style selling of Kentucky roads looks slim-to-none.

:Sigh:

While this is currently a big brouhaha in political circles, it is my feeling that these bridges will be completed. John Yamuth, while an idealistic supporter of 8664, also knows the realities that it won't happen. He also wants to get this project done sooner than later. The costs will escalate as time goes by, and the political will also continue to ebb away from all those involved. I think that prior to the 2008 Legislative session, you'll see a slew of new funding sources, and a faster timetable proposed. While I certainly have doubts about this project being completed, I also know that there will be lots of very important people behind the scenes finding the cash needed.

Let's hope they do. Louisville needs these new bridges and Spaghetti Junction redo.

No I-64 Widening

The Cochran Tunnel, which was recently named an "exceptionally significant" feature of the United State interstate system, could put any future plans to expand I-64 on ice. The designation, one of only three for the entire state of Kentucky, makes it close to impossible to alter the tunnels for an expansion project. I-64 is currently being studied for just such an expansion.

The Louisville interstate system is somewhat strange when it passes through the East End. I-64 and I-71 are still both only 2 lanes in each direction. This alignment creates a pastoral setting for both interstates, but more notably, on I-64. I-64 passes through Cherokee Park and the road is shielded from neighboring buildings by a thick layer of trees, shrubs, and tall natural rock walls. In my opinion, it is one of the most beautiful stretches of urban interstate in the US, as there are only a handful of places with similar settings. (Another road that comes to mind is the parkway between Washington, DC and Baltimore, MD. I do wish I could remember it's designation!)

Due to an increasing population in Eastern Jefferson County and beyond, the state has been trying to identify ways to expand capacity for the future. The state has been studying both I-71 and I-64 for expansions, but has not yet come with any firm plans. Currently, congestion along I-64 is restricted to west of the Cochran Tunnels, and that congestion is only exacerbated by a poorly designed set of interchanges leading to Spaghetti Junction.

To me, the most sensible solution is to expand I-71, for several reasons. First, I-71 leads directly into Oldham County, which is where most of the new suburban growth is taking place. It also has a much smaller interchange with the Watterson and Snyder, which could, and need to be, expanded. Second, I-71 has no interchanges between the Watterson and the Snyder. During an expansion project the state could add new interchanges to I-71, making it easier for residents to use the interstate. Third, the logistics of an I-71 expansion are much more simple - There are no tunnels to work around and the settings, while nice, could have an expanded road without changing the character.

However, due to NIMBY'ism, these projects are slow to take shape and have a lot of political hurdles to cross. Eventually, SOMETHING will have to be expanded, or light rail built, or express bus lines....something! But for now, the traffic is still pretty light, and the East Enders will fight the project until the bitter end.

Few Random Stories from the River City

Today, like all this week, has been an incredibly slow news day in Louisville. But in spite of that, there were a few small stories that caught my attention.

Firstly, the city of Jeffersonville, Indiana is yet again contemplating selling land at the corner of 10th and Spring Streets directly off of Interstate 65. For those of you who don't know, this piece of land is a "gateway" into Jeffersonville and for many years has been in legal limbo. Several years ago Jeffersonville tried to sell the land to retail developers; that fell through. Then they had an AmeriSuites hotel prepared to build on the site; this time they were sued by a private citizen and that deal never came to being. Now, for a third time the city has two developers on the line, one of whom wants to build a Starbucks.

Now, the reason this story even caught my attention was because I once lived in Clark County and the piece of land in question has been an eyesore for as long as I can remember. That area is also a hodge podge of uses: industrial, retail, even some historic structures such as the newly renovated Quartermaster Depot and an older inner ring suburban neighborhood.

What really confuses me is the way Jeffersonville has, all these years, only tried to get the easiest types of developments possible for an important property in the city. To be incredibly honest, Starbucks can be built almost anywhere in Southern Indiana and do perfectly well...there are Starbucks in towns much smaller than Jeffersonville. But Hoosiers have a fascination with saying, "Look! We have ___________ too! We're just as good as Louisville!" Instead of promoting a project to compliment and enhance the urban nature of 10th and Spring, they're simply going to fill it with Starbucks and McDo. Jeffersonville surely has arrived!

Secondly, Baptist Hospital East will ban smoking on all of their property in St. Matthews. Sometimes I think that only in a place like Kentucky could it still be possible in 2007 to smoke around a hospital. Smoking has been banned inside the hospital for quite some time, but I do expect hospitals to show more leadership on health issues such as this. It is how I think having a McDonald's in Kosair Children's Hospital downtown is a bad choice. I don't think that McDo or smoking should be outlawed...but hospitals shouldn't be the place where these things are eaten or inhaled.

Third and last story is the slow way in which MetroSafe is being completed. MetroSafe is one of the mayors major initiatives from his first term in office when he was concentrating on finalizing all merger problems. MetroSafe, when completed, will finally give all first responders, from paramedics to firefights to police officers to disaster workers, all the same radios and the ability to speak to each other all across the county. This will be in the first time in the history of Jefferson County that there will be a seamless communications systems for all agencies in charge of public safety. To say the least, this is an important project for the community!

You can't blame the mayor for this latest setback, but Louisville was dropped from a federal program that grants money to urban areas for terrorism response. Granted, Louisville is not a huge target for terrorists, but this system could one day prove lifesaving to many of the 700,000 people who call Jefferson County home.

This initiative has been fermenting for four years now. As a total cost, it is 70 million dollars...which is about how much the city is prepared to give the developers of Museum Plaza or how much they spent to have the Marriott hotel built. The city simply needs to get this project completed for the good of all Louisvillians.