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Old March 15th, 2007, 04:44 AM   #41
eweezerinc
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Good news about 4th Street, It really helps put a young, vibrant face on Louisville and DT for Derby. For a while, the celebs coming to Derby were, for the most part, not young, and it set the event up as being more directed at older demographics. Luckily, with Louisville now offering a more club-oriented night-life, I think it can and is changing to appeal to a younger demographic, in addition to the more mateur folks.

Good news for UofL. The bio-medical center breaks ground next month.
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Old March 16th, 2007, 12:37 PM   #42
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Went to see Kiss Me Kate at Trinity and noticed the progress on the Eclipse Bank HQ. I didn't realize how much it would do for that intersection being wedged on that odd little lot. Its going to really help make the St Matthew central area seem more like a tiny DT; more significant than just a few shops lined on a busy road.
I went ahead and snapped some shots with my phone:



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Old March 16th, 2007, 03:48 PM   #43
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I love downtown St. Matthews.
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Old March 16th, 2007, 10:44 PM   #44
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well more good news for downtown, it just keeps coming. i have to say louisville is really impressing me. anyways i was reading business first today at work which has become a weekly ritual and i saw that a local partnership has bought the kentucky home life building. it was built in 1913 and is 19 floors. they plan on converting 17 floors into office condos and the top 2 floors will be 8 residential penthouse condos that will sell for around 500k. they plan to invest 10-12 million and said they bought it because they just "wanted to be part of the revitalization of downtown." ans they said they were impressed with downtown. they plan to restore all common areas to their original grandeur as well, plus lease 7,000 sf of ground level retail. the building is currently 65% leased to office tenants, mostly law firms, and these firms will be given first option to buy units. creative alliance is the biggest tenant on the first two floors.
what i thought was funny is that they mentioned that office units would start at 159k for 1,600 sf. now, i am not sure if that is for a shell space or what but compared to most residential units downtown thats a steal. most 1600 sf residential units downtown start at 300-400k. i would actually like to buy one of those office units for 159k and spend maybe 50k with private contractors to build the inside out to my tastes, i mean u could really do a lot with something like that. i may have to look into it.
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Old March 17th, 2007, 07:47 AM   #45
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that is really encouraging about the kentucky home life building development!!!
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Old March 20th, 2007, 02:44 AM   #46
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Quote:
Originally Posted by Soulbrotha View Post
huh?
I think your quote was "veerry interesting" (or something like that). What do you find so interesting about it?
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Old March 20th, 2007, 06:36 PM   #47
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Todd Blue plans $50 million retail, office project on West Main Street
Business First of Louisville

In the early 1900s, the 100 block of West Main Street was home to distillers and wholesalers and earned the moniker Whiskey Row.

More than 100 years later, the block -- now mostly derelict -- is about to be redeveloped as a mixed-use project with retail and restaurant space, offices and a parking garage.

Local developer Todd Blue, president and CEO of Cobalt Ventures LLC, plans a $50 million development called Iron Quarter for the site, which is bounded by First, Main, Second and Washington streets.

Iron Quarter, which takes its name from the cast-iron building facades prevalent in the block, will include a 12- to 14-story office tower with 110,000 square feet; a 20,000-square-foot retail center featuring upscale boutique stores, restaurants, cafes and coffee shops; and a two-level, 500-space parking garage with access from First or Main streets. The office tower is being engineered for as many as 23 stories, if demand dictates, according to the developer.

Properties formerly owned by Jim Walters
Blue bought nine of the 13 buildings in the block in February from holding companies managed by developer and architect Jim Walters. He paid about $4.7 million for the properties, according to information on the Jefferson County Clerk's Web site.

For Blue, who has invested millions of dollars in developing commercial and residential properties in the East Main and East Market street corridors, Iron Quarter represents his biggest project to date.

The developer said he was prompted to take on the effort by the city's plans for a $450 million multipurpose arena and hotel on the waterfront at Second and Main streets. Blue is a member of the Louisville Arena Authority Inc., the entity overseeing development of the project.

"But for the arena, I would not be doing this project," he said.

Blue has no partners in the Iron Quarter venture but has tapped Walters' architectural firm, Bravura Corp., to handle design duties for the development.
Walters, who built the Waterfront Park Place residential condominium tower at Floyd and Witherspoon streets, began acquiring buildings in the West Main Street block in 1996. He considered several redevelopment scenarios for the site over the years but never brought one to fruition.

"It's a pivotal block, and it's well located," Walters said.

Blue seeks local, state support. Blue said he is working with several commercial lenders to arrange conventional financing for his project. He added that he also is in talks with local and state government officials for assistance.

He declined to be more specific on what form that assistance might take.

Details of Iron Quarter are expected to be released at a 10 a.m. news conference on Thursday, March 22. Louisville Metro Mayor Jerry Abramson and Kentucky Gov. Ernie Fletcher are expected to attend.

In an e-mail response to Business First questions, Abramson said it is too early to know for certain whether Blue will need city or government incentives.

But Abramson said city officials will work with the developer to ensure that the project is built and successful.

Building facades to remain
If he is able to get city and state support, Blue said, he hopes to begin work on the Iron Quarter project in December.

Initial work would include demolition of the building interiors. The structures' facades would remain.

A contractor is expected to be chosen in a few weeks

Blue hopes to have Iron Quarter completed in spring 2010, several months before the city's new arena is slated to open.

Because of its proximity to the planned arena, Iron Quarter is considered a "sports-anchored" development, Blue said. Such projects are springing up across the country.

Blue described his project as "pedestrian-based" and "a portal" to other urban developments, including Fourth Street Live, Louisville Slugger Field and Waterfront Park. He also believes that Iron Quarter will complement the coming arena and Museum Plaza, the $380 million mixed-use development planned for Seventh Street and River Road.

"This is not just another building," Blue said. "This is a district. This is a new brand for this community."

Leases pending with unidentified companies
The developer said discussions are under way with several potential tenants, which he declined to identify.

Leases are pending, he said. Retailers are expected to be "lifestyle" oriented, offering high-end merchandise, such as clothing, jewelry, furniture, home decor, art and accessories.

Stores will front Main and Washington streets. There likely won't be anchor department stores, Blue said, and the development won't be dominated by bars and restaurants, although some are expected.

"We are going to bring stores that aren't currently in Louisville," he said. "There is (currently) no shopping downtown."

In his e-mail, Abramson said the coming project will be welcomed by residents of newly constructed lofts, condos and apartments in the city's core and surrounding neighborhoods. "Iron Quarter will bring much-needed retail shopping to downtown."
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Old March 20th, 2007, 06:54 PM   #48
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VERY EXCITING!!! I always thought this block is a lynch-pin between the eastern (residential) and western (commercial) parts to downtown. I expect this to be one hell of a development. This is wonderful!
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Old March 20th, 2007, 07:58 PM   #49
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This is absolutely great news!!!! I have been waiting for something to be announced at this site since the arena was approved. I am also glad to see Todd Blue at the helm. As for the office building, I really hope the demand is there for 22-23 stories not 12-14 but I am extremely excited to hear about this. Can't wait for Thursday.....
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Old March 20th, 2007, 07:59 PM   #50
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Amen. I think it is an ambitious and potentially-risky development, but good for Todd for giving it a go. It is, indeed, a critical block for many reasons.
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Old March 20th, 2007, 08:10 PM   #51
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If the building is tall enough it could fill in the gap nicely btw waterfront place and the rest of downtown.
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Old March 20th, 2007, 08:17 PM   #52
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Great News!!

I drove past there a few day's ago thinking that it looked pretty bad. Glad to see that block get a new lease on life!!
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Old March 20th, 2007, 08:18 PM   #53
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Thanks for posting those Murphy I tried but failed miserably!

Last edited by orangecard; March 20th, 2007 at 08:32 PM.
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Old March 20th, 2007, 08:23 PM   #54
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From the C-J


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Old March 20th, 2007, 09:28 PM   #55
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that looks amazing
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Old March 20th, 2007, 09:31 PM   #56
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SO I DONT KNOW ANYBODY IN LOUISVILLE THAT ISNT WAITING FOR 2010.. SO MANY THINGS IN ALL PARTS OF LOUISVILLE SHOULD BE COMPLETED.
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Old March 20th, 2007, 09:32 PM   #57
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All I can say is wow.
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Old March 20th, 2007, 09:33 PM   #58
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that's whiskey row right?
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Old March 20th, 2007, 09:38 PM   #59
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Yup
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Old March 20th, 2007, 09:39 PM   #60
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so are they making the street smaller

or is this washington street in the back?
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