Strict Standards: Declaration of Walker_Comment::start_lvl() should be compatible with Walker::start_lvl(&$output) in /home/uebersurfer/louisvilleloft.com/wp-includes/comment-template.php on line 0

Strict Standards: Declaration of Walker_Comment::end_lvl() should be compatible with Walker::end_lvl(&$output) in /home/uebersurfer/louisvilleloft.com/wp-includes/comment-template.php on line 0

Strict Standards: Declaration of Walker_Comment::start_el() should be compatible with Walker::start_el(&$output) in /home/uebersurfer/louisvilleloft.com/wp-includes/comment-template.php on line 0

Strict Standards: Declaration of Walker_Comment::end_el() should be compatible with Walker::end_el(&$output) in /home/uebersurfer/louisvilleloft.com/wp-includes/comment-template.php on line 0
Louisville Lofts and Condos » 2007 » August
Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/uebersurfer/louisvilleloft.com/wp-includes/kses.php on line 1003

Archive for August, 2007

Louisville Center City District

Sunday, August 19th, 2007

Last month, I mentioned the expansion of 4th Street Live! into the adjacent Starks Building by Cordish Company.   In that post, I also mentioned the hints from City Hall about the possibility of a major new investment in retail in the downtown area.   The plans for that expansion are now being made public.

The new project, entitled Center City District, will cover 23 acres along six blocks of Muhammad Ali Boulevard.   The Center City District will entail a $250 million investment in housing, restaurants, a boutique hotel and movie theater by Cordish Co.  One of the keys to the project is the vision of the Center City District as a neighborhood and not just a project.  It builds on much of the planning and development work that started about 20 years ago to revitalize the downtown area.

 Key Aspects of the Center City District

  • The Gardens will be renovated (possibly for a minor league hockey team)
  • Housing (hundreds of units, probably Condos and Lofts–but no specifics yet)
  • 1,000 new parking spaces
  • Movie Theater (likely AMC, based upon other Cordish projects)
  • Restaurants
  • At least one structure with 15+ stories
  • Timing: To be completed by 2010

Financing of Center City District 

Obviously, one of the primary drivers for this project will be the financing.  A TIF (Tax Increment Financing) district will be created for these 23 acres and up to 80% of the additional tax revenue generated by the development (keep in mind–these tax dollars wouldn’t exist without the development) will be rebated back to the development owners for street and other improvements.  Over the course of 30 years (the life of the TIF), the rebates are anticipated to be about $130 million.  The upfront investment of $250 million will be solely the responsibility of Cordish Co., without city bonds–meaning the City of Louisville will not take on financial risk if the development does not meet financial expectations.

Tour of Remodeled Homes 2007

Wednesday, August 15th, 2007

This weekend (August 18-19), the Home Builders Association of Louisville are sponsoring the 2007 Tour of Remodeled Homes. The fee ($10/adults, $2/children) will allow access to all 13 homes featured on the tour on both Saturday & Sunday between 12 noon and 6 pm each day.

Many home shows don’t interest me, but one home on the tour this year should be particularly interesting:

  • 707 East Market Street: a live/work home with the first floor as a commercial photography studio and the second/third floors as the family residence. The home, formerly a warehouse, features original heart pine floors, exposed brick, exposed ceiling joists and six (6!) original cast iron fireplaces.

Perhaps I’ll see you there.

More information can be found at the Home Builders Association of Louisville.

Demolition of Phillip Morris Factory

Monday, August 13th, 2007

The 23-acre former home of Phillip Morris in Louisville, KY is being demolished by to make way for the mixed-use NewBridge Crossing. The new development will offer a variety of uses–residential, entertainment, shopping and office.

Personally, I would have preferred that at least some of the site could have been adaptively repurposed. I just hope that it doesn’t become another glorified lifestyle center (just a new name for a strip mall). The demolition was expected to cost about $2 million, but that should amount was reduced due to the large amount of recyclable materials on site that should be salvageable by the demolition company.

I look forward to seeing how the redevelopment progresses over the next few years. I’m sure that Brown-Forman (just down the street) gladly anticipate the redevelopment too.

Park Place Lofts

Tuesday, August 7th, 2007

Park Place Lofts
Park Place Lofts, view from Main Street

400 E. Main St.
Louisville, KY

Total units: 22 (condos)
Lofts: 22 units
Unit size: 792-1,802 sf
Sale price: $133,750-$315,000 (past two years)

Year built: 2005

Park Place Lofts is located directly across the street from Slugger Field, home of the Louisville Bats baseball team. It is also diagonally across from Preston Pointe and directly across the street from Fleur de Lis, another condominium project currently under construction. The lofts are located in the rapidly emerging East Main District of Louisville, one of the hotest residential areas in downtown. Many of the lofts feature balconies with great views of Slugger Field and Preston Pointe. It has on-site parking and a great location, just steps away from the Great Lawn and Riverfront park. The first floor features commercial space (a hair salon and a small coffee house, Blue Mountain, I believe), with several of the spaces currently open.

Park Place Lofts Photos
Park Place Lofts
Park Place Lofts view of side balconies

The Oaks at Riverpoint in Jeffersonville, IN

Friday, August 3rd, 2007

The Oaks at Riverpoint are scheduled to open during August 2007 in downtown Jeffersonville, IN.  The 16 condos (2 BR or 3 BR) are moderately priced ($90,000 to $130,000) with close access to the river and downtown Louisville, yet have amenties such as hardwood floors and oak cabinets.  According to the developer, Tom English of the Gregory Group LLC , almost half have already sold.    The condos are in the former River Falls motel and Lounge, which was completely gutted for the remodel.  The developer plans another building facing West Market St, with retail on the ground floor and offices or condos on the upper floors.