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Old November 7th, 2005, 06:29 PM   #61
gych
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Office market improves, speculative suburban building continues :

http://louisville.bizjournals.com/lo...07/story7.html

Interesting read on the Blues brothers, Louisvilles new young guns:

http://louisville.bizjournals.com/lo...07/story3.html
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Old November 8th, 2005, 08:27 PM   #62
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I didn't realize that L'Ville's downtown vacancy rate was that high! Good news though, a NYC-based company noted Louisville as a "hot market" in the next few years.

This is an excerpt from an article posted in the Indy section:
"New York-based Cushman & Wakefield cited Indianapolis’ downtown as a leading office market nationwide in a recent report, citing the possibility of vacancy around 7 percent in 2007, down from 13.5 percent now. If that happened, it would signal the healthiest downtown office market since the late 1990s.

In the report, Indianapolis ranked alongside markets like Phoenix, Boston, Baltimore and Louisville as having an above-average outlook and positive momentum over the next two years."

Also, I have always been surprised by the lack of Class-A office space out in your 'burbs. L'Ville doesn't really have any dominate suburban office area like Indy's Casleton, Carmel and Hamilton County. I know there are office buildings of course and maybe I just haven't been in the right area. BUT, I haven't probably been out on the far eastside of L'ille in a few years now, so that has probably changed.
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Old November 8th, 2005, 10:00 PM   #63
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Cwilson, it once again sounds like you are very unfamiliar with Louisville. The PROBLEM with Lville is that much of the Class A space is actually in the burbs. Also, it is very spread out with multiple areas having large collections of office parks. Unlike Indy, you cant "see a lot of the office parks" off the side of the freeway (there are 3 huge submarkets-airport/south, Saint Matthews, and Far East/NE). You have to get off onto secondary roads. I am sure you havent seen North Hurstbourne Office parks, many of our suburban office towers, etc. Furthermore there are huge office parks at nearly every exit off I-265, its just many arent visible from the Freeway. Louisville's hills and preserved trees prevent a lot of that. Even S Indiana is getting alot of Class A office along the river and around 265. Blankenbaker has become another hot bed for office parks as well and is full of them now. A builder wanted to put twin highrises at I-64 and Blankenbaker but of course local suburban Nimbys fought it. Of course tehy didnt mind the "stadium of God" know as SE Christian Church, the fifth biggest in the US and at least 10 stories in height--rediculous. Such is the nature of these kind of cities; I saw where ppl in Indy fought having Whole Foods in a similar kind of area.

That being said, downtown Lville's occupacy is better than most midwest cities, with Indy being a large exception. Fact is, Indy started massive downtown development 10 years ago when Circle center and residences started popping, which in turn makes ppl want to work downtown bc it creates a positive image. Louisville has just now gotten started (last 2 years), and downtown is on fire, although many suburbanites still dont have a positive image of downtown. As downtown becomes nicer, an arena is built etc, the corporate fatcats will come back downtown.

And finally, Cwilson, you failed to mention that that report said there was no way Indys vacancy will fall to 7 percent, and that it should hover around 13-14%.
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Old November 8th, 2005, 10:16 PM   #64
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Pretty funny we just talked about this but it cant be denied: Louisville is getting ****ed by a bastard state leeching our funds using a tax code derived in the nineteenth century to promote rural areas, and it is stunting our growth.


Louisville On Short End Of State's Tax Dollar Stick
Nov 8, 2005, 12:37 PM EST Louisville Snubbed:


By Carrie Weil

(LOUISVILLE) -- Now the 16th largest city in the U.S., with a population of 700,000 and the home of a handful of worldwide companies, Louisville has made a name for itself. Or has it? From movers and shakers to cold hard cash, it seems Louisville is lacking a little respect. WAVE 3's Carrie Weil investigates Louisville -- Kentucky's snubbed city.

If Louisville is the state's economic engine, the money train only runs one way -- east to Frankfort, taking the city's respect for a ride.

Local leaders like Jim King know it. "I think it has been taken for granted for many, many years."

Well-known figureheads like UofL Coach Rick Pitino joke about it. "Everybody's coming to their senses in this state -- they're realizing the gateway to heaven has to come through Louisville."

A senator even perpetuated it. In the heated election campaign of 2004, Jim Bunning told a crowd that northern Kentucky would get a bridge before Louisville because they deserved it more.

The reality of Louisville being a snubbed city is more than a self-sacrificing mentality. It comes down to dollars and cents, and lots of it.

UofL Business Professor Paul Coomes says "$950 million dollars a year is leaked out of this community to subsidize, basically, rural living in the rest of the state. That $950 million would purchase us a new bridge every year for cash."

Coomes has studied the situation for more than a decade, and he says it's not just a problem big cities must accept. He points to Indianapolis and Nashville, with more modern tax policies and funding formulas that equate to those cities getting their fair share -- while Louisville does not.

Coomes says "we get the least money of any county in the state per capita -- about $17 a head back. Some counties get $100 to $200 per capita back."

The lack of green affects everything from our green spaces to road projects and education, leaving Kentucky's biggest city scraping for money and on a fast track to nowhere when it comes to growth and increased prominence.

Tonight at 11 we'll have an in-depth look at where Louisville loses out, including local projects put on hold -- and what can be done about it.
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Old November 8th, 2005, 10:27 PM   #65
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WE DO GET VERY SCREWD BY STATE GOV"T
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Old November 9th, 2005, 12:36 AM   #66
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Quote:
Originally Posted by gych
Cwilson, it once again sounds like you are very unfamiliar with Louisville.
Once agian, it is obvious that you only read what you want and fail to read the actual text! Did I not post that "maybe I haven't been in the right area?" I also wrote..."It has been a few years since I have been out on the far-eastside of L'Ville." I have driven from one end of your outer loop to the other (an old girlfreind used to live out near Okolona) and unlike I-465, there is not the same level of office buildings. You yourself even say that you have to get on secondary roads to see this.

Quote:
Originally Posted by gych
And finally, Cwilson, you failed to mention that that report said there was no way Indys vacancy will fall to 7 percent, and that it should hover around 13-14%.
Dude, you are twit! I didn't "fail" to mention anything! The article was about Indy, not Louisville. I only posted what was about Louisville in the damn article, nothing else. I had no idea that informing L'ville forumers about positive news for their City would be turned into a pissing match by you, but I should have known, since you have an inferiority complex with regards to Indy. This comment alone illustrates that.

Stop attacking just to attack. I can't post something on here without you showing your f*cking ass! I enjoy discussing development, especially in the region immediately surrounding Indy! It is what I do for a living and it is my passion.
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Old November 9th, 2005, 01:05 AM   #67
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Quote:
Originally Posted by cwilson758
Once agian, it is obvious that you only read what you want and fail to read the actual text! Did I not post that "maybe I haven't been in the right area?" I also wrote..."It has been a few years since I have been out on the far-eastside of L'Ville." I have driven from one end of your outer loop to the other (an old girlfreind used to live out near Okolona) and unlike I-465, there is not the same level of office buildings. You yourself even say that you have to get on secondary roads to see this.



Dude, you are twit! I didn't "fail" to mention anything! The article was about Indy, not Louisville. I only posted what was about Louisville in the damn article, nothing else. I had no idea that informing L'ville forumers about positive news for their City would be turned into a pissing match by you, but I should have known, since you have an inferiority complex with regards to Indy. This comment alone illustrates that.

Stop attacking just to attack. I can't post something on here without you showing your f*cking ass! I enjoy discussing development, especially in the region immediately surrounding Indy! It is what I do for a living and it is my passion.
No pissing contest YOU TWIT, just post the full truth (that the office vacancy will NOT decline to 7% in Indy). Also, you have made it fairly clear that your impression of Louisville is based off what you've seen off the highway and a few other trips to middle class areas of town (like if I went to Indy a few times and judged it off Speedway)=poor way to judge the city. Next time, make an informed opinion, or at the very least ask us.

Second, no one brought up Indy until you made a comment about Louisville's office vacancy that amounted to this in so many words: "wow Louisville's vacancy is high, look how great Indy is." Next time you post here, try and get your implied agenda out of the way, (your belief that Indy is far superior), or I will keep pissing on your bullshit and correcting you.

Now, any sensible comments regarding the articles and my apologies to all other forumers.
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Old November 9th, 2005, 01:33 AM   #68
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"wow Louisville's vacancy is high, look how great Indy is." Next time you post here, try and get your implied agenda out of the way, (your belief that Indy is far superior), or I will keep pissing on your bullshit and correcting you."

Do you really believe that this is what I was implying? SERIOUSLY? You have got to be kidding! Um. I guess I really don't know what else to "say."

Umm...I hate to disappoint you, but that is certainly not what I was impying, AT ALL. My bet is that you are the only one on this Board that thinks this is what I was implying.

With regards to my post, I was actually under the impression it was much lower. REMEMBER, I had just read an article posted in the Indy section saying that Louisville had an above-average office market outlook. I mean, you yourself read it! If you knew nothing of L'Villes office market and you read that little blurb, would you not think that it was a healthy market? Seriously. I think most, if not all here would agree.

I just find it odd that I can post all over this website, talk about various developments, and you are the ONLY one who thinks I have an agenda. I bet that the people over in the Charlotte section don't think I have an agenda, or those over in Portland, or Nashville.

Let's just end this and I agree to pretend that you don't even exist. This isn't meant to be mean or hateful, just reality. My "Agenda" is too difficult to get past.
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Old November 9th, 2005, 04:00 AM   #69
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cwilson758 and gych, you guys crack me up. lol!

Anyway, my opinion on suburban office parks is about the same as a Lowes or Home Depot. There's nothing necessarily wrong with them but many cities have become oversaturated with them.

Louisville has fewer suburban office developments than Indy because it has grown at a slower rate. Once again, this illustrates how Indy AND the state of Indiana have worked together to lure more companies into the area. I think there has been enough discussion on here regarding the 'help' Louisville has received from the state in similar matters. Many companies avoid Kentucky due to the high taxes alone. Given the circumstances, I'm honestly surprised Louisville has as much class A space as it does.

That being said, if the whole Blankenbaker area is any indication of what Louisville is lacking from other peer cities then I'd rather do without it.

As for Indy, I think the city is entering a very important time in its history. As the population center moves farther to the North it will become more of a challenge for downtown to compete with it's newer and more wealthy neighbors to the North. The thing I don't like about all of the new office developments scattered around the Northern edge of the city is that those are business that could be downtown or at least further into the city. Despite the city's impressive growth over the past decade, how much new office space has appeared downtown?

Forget places like Chicago or even Louisville posing a threat. Little ole Carmel is the city Indy should be closely watching over it's shoulder.
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Old November 9th, 2005, 05:15 AM   #70
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Gych, cwilson, you all are pretty funny...with that said I too was surprised to hear of Louisville being a "hotbed" for office space. If Louisville can do well for itself without much state help, imagine how successful the city would be if we got what we deserved. All this talk about Kentucky's tax code really gets to me. The good thing is that it seems that this situation is getting a lot of attention lately. I know for a fact is Louisvillian's would stand together on this issue it would put tremendous pressure on the state to change things. If Louisville could get Lexington and Covington in on the act, I can't imagine the state gov. being able to do anything against it.
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Old November 9th, 2005, 11:37 PM   #71
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Lexington doesn't have that much trouble... The state loves UK.

Was watching the news and apparently the LG&E Building will be pink and blue for November? Has this taken effect yet? Can't wait to see that!

Speaking of news, I was on WAVE3 this morning dancing and promoting my upcoming show at YPAS. Just if any of you crazy people were up that early to watch the news and noticed.
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Old November 10th, 2005, 02:40 AM   #72
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Was that the showboat b/c if it was i went and seen it @ ypas today.
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Old November 10th, 2005, 05:50 PM   #73
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Beargrass Creek project rezoning on council agenda

Plans for a large residential and marina development along the Ohio River near Beargrass Creek are expected to clear another hurdle tonight, as the Louisville Metro Council considers rezoning for it.

The action would change the property from a neighborhood form district to downtown form district, which would allow for higher density, taller buildings and on-street parking.

With approval from the council and an expected clearance from the Army Corps of Engineers, Icon Properties will be ready to begin the first phase of construction of its Riverpark Place, to include 350 units. It hopes to have its first residents by next fall.

The Waterfront Development Corp. asked for the zoning change in an effort to make the project more affordable for Icon and to ensure there are enough residents to make Riverpark Place vibrant.

"The whole (form district) concept is to give a general image for a particular area," said Mike Kimmel, spokesman for the Waterfront Development Corp. "This neighborhood has a particular image that comes to mind, and it's high density … with a lot of street-level activity."

The plans call for numerous residential structures, with some of them up to 16 stories. There also would be ground-level shops, restaurants and other amenities.

Kimmel said part of the need for the taller buildings stems from the Waterfront Development requirement that the public have access to the river's edge.

There will be a wide esplanade the length of the property that Kimmel said Icon will not develop.

"To put in a 20-foot-wide stretch of concrete is not inexpensive," he said.
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Old November 10th, 2005, 08:05 PM   #74
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Two new movie venues planned
Veterans Parkway will have cluster

we all know Clarksville is close to my heart...

The number of movie screens in the Clarksville-to-Jeffersonville corridor is about to explode with the addition of two multiplexes along Veterans Parkway next year.

Alliance Entertainment, the New Albany company that operates the 16-screen Great Escape Theatre on Charlestown Road in New Albany, said yesterday that it will build a 12-screen theater next to the huge new Bass Pro Shops store in the River Falls Mall complex.

Alliance President Anne Ragains said the new Great Escape in Clarksville would open around the middle of next year.

That's about the same time that a competing 10-screen complex less than a mile away, in the planned Jeffersonville Town Center shopping complex on Veterans Parkway, expected to start showing movies.

Kent Arnold, president of Town Center's developer, Vision Land Development of Cincinnati, said yesterday that the Jeffersonville movie complex, to be called Cinema J, would be expandable to 16 screens.

Both will compete with the nearby 10-screen Green Tree 10 Theatres on Lewis & Clark Parkway. It raises the question of whether the competitors can make a go of it in a market that will suddenly offer moviegoers at least 32 movie screens within about a mile of each other.

Ragains said, "Of course that will dilute the market." She added, "It's going to be a tight project for us … and it certainly won't be one of our huge money-makers, but as far as financially, we'll be OK."

Arnold said he had expected the competition and had planned Cinema J accordingly. "We believe we're going to do just fine," he said.

Terrell Falk, spokeswoman for Cinemark, which operates Green Tree 10, said: "I don't have a crystal ball. I don't know" what effects the new competition will have.

Both of the new complexes will have stadium-style seating and digital projection. The older Green Tree facility was built before those features became standard in movie-house design, and it does not have stadium seating.

Alton Gibson, who lives in Jeffersonville and was shopping at Green Tree Mall yesterday, said he splits his moviegoing about evenly between Green Tree and the New Albany Great Escape. He expressed mixed feelings about the new projects.

"More congestion, great. I like having to go to New Albany," he said in anticipation of more traffic. But then he added, "I like the stadium seating."

Mike and Brenda Stamper were in from Seymour. "We hardly go anymore," Brenda Stamper said of movie theaters. But Mike Stamper, who said he would come to Clarksville more often once Bass Pro Shops open, said of the neighboring theater project, "It'd be interesting to see it at least once."

Sellersburg resident Amy Martin, a Great Escape patron, said: "It's kind of funny. We didn't have anything like that and now we're going to have two."

Great Escape is a $7 million project that will be a stand-alone structure. Cinema J is part of a project that will also include restaurants, a department store, a bookstore and a home-furnishing store.

Arnold said that more than 80 percent of the 71-acre Town Center project would be leased by the end of December. He said he expects to begin announcing the names of the tenants early next month.




Yeah, Greentree 10 will close within a year of these two new movie theatres opening up...leaving another outlot for Greentree Mall to deal with. That will leave them with a defunct restaurant and two defunct theatres...plus the now defunct Target accross Greentree Boulevard which is owned by Greentree Mall. I have hopes that the restaurant can be redeveloped...but what do you do with abandonned movie theatres?

One step forward, two steps back...Clarksville recently got one of their vacant buildings along Lewis & Clark filled by Tuesday Morning (I actually kinda like that store, lol) and now Veteran's is just going to casue more abandonment...
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Old November 10th, 2005, 09:52 PM   #75
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Yeah, I dont get clarksville. The whole Indiana corridor is booming, but they keep developing and redeveloping the same general area. I think thats why people like the Charlestown Rd area bc its away from the traditional S Indiana retail hub. For all intensive purposes it could be Springhurst, and as much as I hate Springhurst, Charlestown Rd to Sellersburg has most of the same houses, restauarants, and shopping that draws people to the Springhurst suburbia (many in Louisville would be shocked to see the Indiana burbs).

That being said Bass Pro shops is a huge boon to Clarksville. I am glad it is at least close to Lewis and Clark and Greentree Mall. Honestly this is the IKEA for the common man, except lets face it, there are WAY MORE common men out there then there are "IKEAites." That being said, the traffic that Bass Pro draws from the ENTIRE Indiana and Kentucky region may be enough to save Lewis and Clark and a allow a few of those outlots to get middle class type restaurant tenants.

Obviously, the more upscale stuff is going in on Veterans and will cater to the growing class of minivan suburburban families that is developing north of 265 in Indiana and is demographically similar to areas around 265 in KY.
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Old November 10th, 2005, 09:58 PM   #76
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Quote:
Originally Posted by LouisvilleJake
Beargrass Creek project rezoning on council agenda

Plans for a large residential and marina development along the Ohio River near Beargrass Creek are expected to clear another hurdle tonight, as the Louisville Metro Council considers rezoning for it.

The action would change the property from a neighborhood form district to downtown form district, which would allow for higher density, taller buildings and on-street parking.

With approval from the council and an expected clearance from the Army Corps of Engineers, Icon Properties will be ready to begin the first phase of construction of its Riverpark Place, to include 350 units. It hopes to have its first residents by next fall.

The Waterfront Development Corp. asked for the zoning change in an effort to make the project more affordable for Icon and to ensure there are enough residents to make Riverpark Place vibrant.

"The whole (form district) concept is to give a general image for a particular area," said Mike Kimmel, spokesman for the Waterfront Development Corp. "This neighborhood has a particular image that comes to mind, and it's high density … with a lot of street-level activity."

The plans call for numerous residential structures, with some of them up to 16 stories. There also would be ground-level shops, restaurants and other amenities.

Kimmel said part of the need for the taller buildings stems from the Waterfront Development requirement that the public have access to the river's edge.

There will be a wide esplanade the length of the property that Kimmel said Icon will not develop.

"To put in a 20-foot-wide stretch of concrete is not inexpensive," he said.
They need to break ground already!!! And I think they should build twin 25 story towers instead, surrounded by multiple village like luxury apartments (1000-1400 /month rents) in three story buildings above ground level retail: a small grocer, clothing store, blockbuster, cleaners, and maybe a seafood (word is a seafood restaurant out of NYC has already been signed on!) and chinese restaurant. Either way, they need to have a large percentage of condos under 200k for this to be successful. There is a growing class of young people here dying to move downtown but cant afford it, and the proximity of this to Frankfort avenue and the river and park would be enough to lure them if they could afford it. Middle class baby boomers would also love this, but many of them are in the 120-200k price range when looking for condos.
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Old November 11th, 2005, 07:41 AM   #77
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Quote:
Originally Posted by gych
They need to break ground already!!! And I think they should build twin 25 story towers instead, surrounded by multiple village like luxury apartments (1000-1400 /month rents) in three story buildings above ground level retail: a small grocer, clothing store, blockbuster, cleaners, and maybe a seafood (word is a seafood restaurant out of NYC has already been signed on!) and chinese restaurant. Either way, they need to have a large percentage of condos under 200k for this to be successful. There is a growing class of young people here dying to move downtown but cant afford it, and the proximity of this to Frankfort avenue and the river and park would be enough to lure them if they could afford it. Middle class baby boomers would also love this, but many of them are in the 120-200k price range when looking for condos.
They need to get that done now!!!!! 16 stories is something I didn't expect in that development, but thats still a pretty nice size project. You know how things change, I would bet the house that you will see a 25 story plus condo in that area in the near future. It would be stupid not to build one.
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Old November 11th, 2005, 07:47 AM   #78
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Quote:
Originally Posted by LouisvilleJake
Two new movie venues planned
Veterans Parkway will have cluster

we all know Clarksville is close to my heart...

The number of movie screens in the Clarksville-to-Jeffersonville corridor is about to explode with the addition of two multiplexes along Veterans Parkway next year.

Alliance Entertainment, the New Albany company that operates the 16-screen Great Escape Theatre on Charlestown Road in New Albany, said yesterday that it will build a 12-screen theater next to the huge new Bass Pro Shops store in the River Falls Mall complex.

Alliance President Anne Ragains said the new Great Escape in Clarksville would open around the middle of next year.

That's about the same time that a competing 10-screen complex less than a mile away, in the planned Jeffersonville Town Center shopping complex on Veterans Parkway, expected to start showing movies.

Kent Arnold, president of Town Center's developer, Vision Land Development of Cincinnati, said yesterday that the Jeffersonville movie complex, to be called Cinema J, would be expandable to 16 screens.

Both will compete with the nearby 10-screen Green Tree 10 Theatres on Lewis & Clark Parkway. It raises the question of whether the competitors can make a go of it in a market that will suddenly offer moviegoers at least 32 movie screens within about a mile of each other.

Ragains said, "Of course that will dilute the market." She added, "It's going to be a tight project for us … and it certainly won't be one of our huge money-makers, but as far as financially, we'll be OK."

Arnold said he had expected the competition and had planned Cinema J accordingly. "We believe we're going to do just fine," he said.

Terrell Falk, spokeswoman for Cinemark, which operates Green Tree 10, said: "I don't have a crystal ball. I don't know" what effects the new competition will have.

Both of the new complexes will have stadium-style seating and digital projection. The older Green Tree facility was built before those features became standard in movie-house design, and it does not have stadium seating.

Alton Gibson, who lives in Jeffersonville and was shopping at Green Tree Mall yesterday, said he splits his moviegoing about evenly between Green Tree and the New Albany Great Escape. He expressed mixed feelings about the new projects.

"More congestion, great. I like having to go to New Albany," he said in anticipation of more traffic. But then he added, "I like the stadium seating."

Mike and Brenda Stamper were in from Seymour. "We hardly go anymore," Brenda Stamper said of movie theaters. But Mike Stamper, who said he would come to Clarksville more often once Bass Pro Shops open, said of the neighboring theater project, "It'd be interesting to see it at least once."

Sellersburg resident Amy Martin, a Great Escape patron, said: "It's kind of funny. We didn't have anything like that and now we're going to have two."

Great Escape is a $7 million project that will be a stand-alone structure. Cinema J is part of a project that will also include restaurants, a department store, a bookstore and a home-furnishing store.

Arnold said that more than 80 percent of the 71-acre Town Center project would be leased by the end of December. He said he expects to begin announcing the names of the tenants early next month.




Yeah, Greentree 10 will close within a year of these two new movie theatres opening up...leaving another outlot for Greentree Mall to deal with. That will leave them with a defunct restaurant and two defunct theatres...plus the now defunct Target accross Greentree Boulevard which is owned by Greentree Mall. I have hopes that the restaurant can be redeveloped...but what do you do with abandonned movie theatres?

One step forward, two steps back...Clarksville recently got one of their vacant buildings along Lewis & Clark filled by Tuesday Morning (I actually kinda like that store, lol) and now Veteran's is just going to casue more abandonment...
The last thing Clarksville needs is another Theatre with the one on charlestown rd so close and the new Cinema J. I like charlestown rd too because the traffic is minimal. I thought they were going to have like a open mall type of setting at river falls. Anyways that Bass pro place is freaking huge, I didn't think it would be that big. I passed by there the other day on my way back from best buy and that place is huge. I wonder what department store will be at the jeffersonville town center. I hope Oldham county takes that same aggressive approach that s.indiana has done. I think Oldham can attract the big name retailers because of the demographics in that part of the metro. Louisville should be the retail hub for Kentucky period, its makes no sense why we don't have the retail most metro's our size have. I think Oldham should be very aggressive in there project.
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Old November 11th, 2005, 05:30 PM   #79
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312 apartments planned on 22 acres near UofL
Site is off Seventh Street and Shipp Avenue




A developer plans to build 312 apartments on 22 acres at the former American Standard Co. manufacturing site off Seventh Street and Shipp Avenue near Old Louisville.

The apartments primarily would serve University of Louisville faculty, staff and students.

Alta Louisville LLC -- a company whose partners have completed similar projects near colleges in Mississippi, North Carolina and Florida -- is requesting a zoning change from EZ1, or enterprise zone, to multifamily residential, to accommodate the housing density.

A public hearing on the zoning change is scheduled next month.The company is calling it the Cardinal Community Revitalization Project.

U of L officials and nearby residents say they would welcome the apartments.

Nadine Uphold, who lives across the street from the American Standard property on Davies Avenue, said the complex could draw other development that would be good for the area.

"If it's going to improve the neighborhood, I'm all for it," she said.

Herb Fink, chairman of the Old Louisville Neighborhood Council's Property Improvement Committee, plans to attend the zoning hearing to learn more about the project. But he said it seems to fit well with Old Louisville's push for quality housing and improvements to run-down areas.

"That's what we're looking for in Old Louisville," Fink said.

Project manager Charles Frazier Jr. said the apartments would have up to four bedrooms each and range in size from 650 to 1,500 square feet. Rents would be $650 to $1,400 a month. The complex would include yoga and fitness rooms and a swimming pool, and each apartment would have a washer and dryer.

If all goes well, work would begin next summer, and the first tenants would move in by June 2007.

The project would be completed by June 2008 with a price tag as high as $25 million, Frazier said. He said one of the site's biggest selling points is that U of L's campus is less than a mile away. "We think about half of the residents will walk and the others will drive," he said.

Larry Owsley, the university's vice president for business affairs, said that the Shipp Avenue development has the potential to be an asset to both the campus and neighborhood.

"We are interested in development around the campus and encourage development of things that help the community," he said. "I think there are enough students to go around."



UofL is really a happening area right now with all this new residential...good to finally see the university getting some of the attention it has desperately needed...these look like your basic college apartments, but still a needed amenity in the area.
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Old November 11th, 2005, 11:39 PM   #80
gych
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You beat me to posting that . I am loving all this urban infill getting announced. That project and the Reynolds plant lofts along with the Sports loft across from Cardinal stadium are big for that area. It gives the area a stable neighborgood base and says for sure that the area will stay nice. Soho Condos at the north end of Old Louisville will help with that too.

We reallty are seeing more infill projects than I can ever remember, and I know its a national trend, but how do you guys think were doing?

10 years ago projects like RiverPark Place, and even Liberty Green wouldnt have been possible.
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