Friday February 24, 2006
The proposed new arena, a new skyscraper, new hotels, downtown condos, museums, shops and restaurants - these are just a few of the recent announcements adding to the momentum of growth in downtown Louisville. Find out more about what the new development will offer for people living in and visiting our city.
With more than $800 million in construction occurring in Louisville's downtown, the streetscape, level of amenities and quality of life is rapidly changing.
The number of housing units has doubled in the last 20 years, with 900 units available in 1985 and 1,800 units available in 2005. It is expected to double yet again within just the next three years, with 3,600 downtown housing units built, under construction or in development.
There also are more entertainment options available today. With the opening of 4th Street Live!, the Frazier Historical Arms Museum, and most recently, the Muhammad Ali Center, visitors and residents alike can soak up Louisville's culture, history and fun.
Louisville has a downtown brimming with momentum, confidence and optimism. There is a downtown full of workers during the day, thousands coming for entertainment in the evening and weekends, and more and more coming to make it their new home.
The most recent proposed addition to our downtown's landscape is a larger-than-life project that will add vitality and character to our entire community.
Museum Plaza will include luxury condominiums, loft apartments, office space, a hotel, retail space and a contemporary arts museum in the iconic "island".
This $380 million project is still in development. However, the plans reflect an increase in interest to live and work in an urban setting, be able to walk to restaurants, shops, a Broadway show, and to feel the camaraderie of neighbors, who increase day by day in the new downtown neighborhood.
Sharing the public plaza with the Muhammad Ali Center, residents and visitors will be able to experience other cultural, museum, and entertainment venues in Museum Plaza.
Located at the southwest corner of Third and Chestnut Streets, this $20 million rehabilitation of the old YWCA assures saving one of the city’s most noticeable and historic buildings.
The lower floors will house commercial and event space. The Grand Ballroom and the Elks Room will be preserved and renovated to their former glory. Also available to the public will be a two-story rooftop garden carved out of the fourth and fifth floors. Upper floors in the building will provide 70 units of residential space.
The project also includes property that extends east to Fourth Street, which will become a public piazza, and the historic Wright-Taylor Building on Fourth Street, which will contain additional commercial space.
Mercantile Gallery Lofts
This $10 million adaptive reuse project will convert three historic buildings into 47 condominiums and retail space.
Located at 301-311 E. Market Street, this location has moved from being a diamond in the rough to a an up-and-coming revitalized hotspot, due to the recent investments in Waterfront Park and Slugger Field.
Mercantile Gallery Lofts includes 56 parking spaces in an adjoining garage.
The Hub includes new construction of two 5-story buildings that will house 60 apartments and retail space.
Located at 300-320 E. Market Street, this $3.5 million project is another addition to the East Market arts district and part of the $150 million in investment as a direct result of the opening of Slugger Field.
Fleur de Lis Condos
This $22.5 million project will be a new 5-story building with 74 condominiums and retail space. Preserving the historic Brinly-Hardy site's appearance, the design includes two interior courtyards.
Located across the street from Slugger Field, this project is part of $150 million in new investment as a result of the popular ballpark and newly revitalized East Market Street arts district.
This new $26 million, 90-room hotel is the only boutique hotel in Louisville, offering more personalized services to its customers.
It also will house a 21st century, contemporary art museum, displaying works of local artists. Being both a destination for art, and a home away from home, a museum/hotel in downtown Louisville will boost downtown with more visitors, both locally and from around the country.
It is in the middle of the historic and cultural arts district, and is a great addition to the other improved buildings along Main Street. This renovated building is part of the second largest collection of cast iron facades, behind the SoHo District in New York City.
Proof on Main, an upscale restaurant opening February 28, will also be housed in 21C.