Louisville/So Indiana Development News

[orangecard]

JTS I believe you are correct

[arenn]

Hi. I was doing some research on the post-merger annexation question and came across the following interesting article:

http://www.mcanaindy.org/hottopics/i...out_a_City.pdf

Very interesting, though I'm sure some people here would disagree with some of the conclusions.

It does say that small cities can annex after 2012 or something like that. This is a big deal. The paper implicitly argues something that I noted earlier, if you don't dissolve any other municipalities, and they can still annex, then merger was a dissolution of the city of Louisville combined with a reorganization of county government. In fact, small cities like St. Matthews could even come in and annex chunks of the east end that used to be in the old city of Louisville. There is nothing preventing these cities from annexing up chunks of the former Louisville as it has been disincorporated.

I would press the panic button on this yet since I'd expect legislative action to prevent this if it became a problem, but it shows one of the less than stellar aspects of the merger.

[Louisville Rising]

The building behind the arena in that illustration is Humana Riverview Square Building. That building will be vacant as of Dec. 15, 2007, and it is being turned over to the Arena Authority on Dec. 20. The AA currently has an RFP on their website for demolition of this building and the LG&E buildings. The demolitions won't begin until August and are scheduled to be finished Nov. 1, 2008.

The other error with that illustration is that tall radio-type tower that you see on the left side of the new arena. That tower is actually sitting on top of the existing LG&E building, which means it, too, is coming down and won't be seen in the end.

[cwilson758]

Arenn-

Not having read what you have found and knowing nothing on annexation law in KY, it may not be that big of a deal. Here in Indiana, if a smaller municipality wants to annex land and they are within 5miles of a certain level of city, they have to get permission from that city to do so. Therefore, it may be possible on "paper" to annex in the Greater Louisville area; however, without the City's approval, it may not be able to happen.

[arenn]

Cory, you should give that a read if you have some spare time. The particulars of the history around the Louisville merger may not be interesting, but there are a lot of things cited that are similar to how Indy and Nashville did their merger, and some of the downsides thereof.

Here's another document with a lot of information about Louisville's merger, including a lot of facts and organization charts.

http://regionalstewardship.org/ARS_f...erOverview.pdf

[bolenmeister]

Jefferson Mall might get a challenger in $85M retail centerBusiness First of Louisville - by Terry Boyd Business First Staff Writer

Jefferson Mall might lose its position as southern Jefferson County's lone regional retail destination.

A Louisville-based development group plans to build a major shopping center next to Jefferson Mall, potentially an $85 million project.

Jefferson Development Group CEO Kevin Cogan has bought 27 acres on the southeast side of the mall, where Jefferson Development plans a large retail development, said Rob Webber, Jefferson Development president.

The property, at Robbs Lane and the Outer Loop, currently is undeveloped.

Retail hybrid
Though Webber declined to identify potential tenants, he envisions the new center as having brands comparable to The Summit-Louisville in northeastern Jefferson County.
"People who live in (the southern) part of the county -- if they want to have that level of retail -- right now they have to drive to The Summit."

The as-yet unnamed development would be more compact than the 40-acre Summit.

The plan is for a 420,000-square-foot "lifestyle center" -- a cluster of stores and restaurants within walking distance of one another -- that would have several anchor tenants, as well as storefronts and sit-down, national chain restaurants.

In terms of retail space, the new development would be less than half the size of Jefferson Mall, which has about 1 million square feet under roof.

The Jefferson Development project, though, could have about 14 percent more retail space than The Summit, which has nearly 370,000 square feet. But it would be on a far smaller piece of property.

The Jefferson Development project will have streetscapes, outdoor seating and integrated parking decks, Webber said. "What we don't want to see is a sea of asphalt."

Anchor retailers could include a sporting goods store, bookstores and possibly a grocery. "The population density is so (great) that a grocery is likely," Webber said.

Cogan had the property under option in May when he and Webber went to the International Council of Shopping Center's trade show in Las Vegas, Webber said. "We showed (national credit tenants) the area and the concept, and everyone was ecstatic."

Jefferson Development officials plan to develop store shells and lease them to tenants, though Webber said he could foresee possibly selling some parcels to anchor tenants or top restaurants.

Retail destination hub
Jefferson Mall owner CBL and Associates Properties Inc. is aware of Jefferson Development's plans, said Katie Reinsmidt, director of investor relations at CBL headquarters in Chattanooga, Tenn.

Reinsmidt said she couldn't speculate on the impact of a neighboring development. In general, she added, creating a retail hub is positive.

"People tend to gravitate toward retail clusters," she said. Adding more retail next to Jefferson Mall would be "a traffic driver."

Jefferson Development bought the property last July as Dixie Blue Dog LLC and Dixie Blue Dog II LLC from LaVerne Wallace, paying about $1.4 million for two parcels totaling 27 acres, according to the Jefferson County Property Valuation Administrator's Web site.

The property already has sewers and utilities in place. "That's one of the advantages of being next to a regional mall," Webber said.

He anticipates the process of changing the zoning from residential to commercial to take about eight months, with site work possibly beginning in 2008.

Jefferson Development Group executives have had one meeting with residents, and two more are scheduled for January, he said. He described the reception for the center as positive, with local residents enthusiastic about sit-down dining and more retail selections.

At $85 million, Webber said, he expects Louisville banks to be interested in financing the project, though it's possible financing capital could come from New York-based investment firms or possibly from large life insurance funds.

Other developers had tried for years to buy the property because it's one of the last large undeveloped parcels in the area and because of its strategic location, according to Webber. "We had the right offer at the right time."

Other developers had tried for years to buy the property because it's one of the last large undeveloped parcels in the area and because of its strategic location, according to Webber. "We had the right offer at the right time."

Area has seen strong residential growth
The cluster of shopping centers in east Jefferson County has about 4.5 million square feet of retail space.

Those centers include two regional malls -- Mall St. Matthews and Oxmoor Center -- within one mile of each other on Shelbyville Road.

By comparison, Jefferson Mall, at 4801 Outer Loop, is the only mall south of Interstate 264, as well as the only mall near fast-growing Bullitt County.

At a time when much of Kentucky was in a slow-growth mode or losing population, Bullitt's population grew by about 20 percent between 2000 and 2006, according to U.S. Census Bureau statistics.

Residential growth in southern Jefferson County and Bullitt County has been fueled by the expansion of United Parcel Service Inc.'s air hub, as well as fulfillment and logistics businesses drawn to the hub, near Louisville International Airport, Webber said.

Although household incomes in the market area are below those in more affluent parts of eastern Jefferson County, a higher percentage of residents have been in the area for decades, own their homes and have disposable income, he said.

Apartments planned in South End
Jefferson Development already has a South End presence, including a planned apartment complex, Wyndamere.

Wyndamere would put 420 units at the Gene Snyder Freeway and New Cut Road, a project scheduled to be completed next year.

In addition, Jefferson Development announced last Friday that it would build two 12-story towers on East Main Street, a project worth an estimated $150 million.

[bolenmeister]

Developers outline plans for Liberty Green townhomesProject will include some commercial space; could cost $100 million over the next 10 years
Business First of Louisville - by Sarah Jeffords Pister Business First Staff


Developer Bill Weyland believes the townhomes planned for Liberty Green, a mixed-income, mixed-use community in east downtown Louisville, are unlike anything available in the downtown market.

The height of the buildings -- three to five stories -- gives the development an urban feel. But the design is reminiscent of the stately homes along popular St. James Court in Old Louisville, he said.

The configuration of the units gives potential residents flexibility in terms of the size and price, Weyland added, making it attractive to a broad range of demographics.

Plus, some of the buildings will be mixed-use, with retail, office and residential space. Developers hope service businesses, such as a grocery store or a dry-cleaners, will be in the mix.

At least 250 townhomes planned
Weyland, managing member of Louisville's City Properties Group LLC, was scheduled to unveil the details of the planned townhome project at a press event this afternoon.

The townhomes will make up the home-ownership component of Liberty Green, the $230 million development that replaces the former Clarksdale public-housing complex.

Plans call for about 400 rental units and at least 250 townhomes that will be available for purchase, said Tim Barry, executive director of the Louisville Metro Housing Authority.

The city agency is coordinating the Liberty Green project, which includes some public housing.

The rental portion of the project is well under way, with 188 units completed, 180 of which are leased, Barry said.

Now, Weyland and Holly Wiedemann, president and owner of Lexington-based AU Associates Inc., are stepping up to start the home-ownership section through a joint venture, Downtown Edge LLC.

Partners to invest $100 million
Weyland said Downtown Edge plans to invest about $100 million during the next 10 years in its portion of Liberty Green.

The company has a long-term option to buy more than 10 acres of the 30-acre Liberty Green site. The parcels are interspersed with the rental portion of the development to help create a mixed-income community.

Plans calls for more than 700,000 square feet to be constructed along Hancock, Jefferson and Shelby streets. Although the majority of that space will be used for 250 to 350 townhomes, Weyland said, the first level of many of those buildings will be used as retail and office space.

Green space -- area parks, landscaped courtyards and rooftop gardens -- also are part of the design.

The initial phase of the project will include three- and four-story townhomes along Hancock Street, which will be a combination of speculative and custom housing.

Construction is scheduled to begin in the first quarter of 2008, and Weyland expects to begin preselling units by the second quarter of next year.

The buildings, which will be rows of attached townhomes, are unique in that buyers can purchase one or multiple floors within the townhome.

For instance, a student could purchase a first-floor, one-bedroom unit, which starts at $100,000. Or, a family could buy all three stories, which would allow for multiple bedrooms. The most expensive units will cost about $500,000.

Also in the first phase, Downtown Edge will build a four- or five-story mixed-use building at either the corner of Jefferson and Shelby streets or Jefferson and Hancock streets, Weyland said.

He added that his company eventually plans mixed-use buildings at both corners, but the second building will be constructed in a future phase.

Downtown Edge is seeking New Markets Tax Credits for the larger, mixed-use facilities. As part of that project, the retail and office space will be leased to tenants for the first seven years. After that, the spaces might be sold to tenants instead of leased.

City officials champion design
To say Weyland is enthusiastic about the project is an understatement. For the past decade, he has concentrated his development efforts in the downtown sector, typically focused on mixed-use projects such as Glassworks and the Henry Clay building.

But Liberty Green is one of the few downtown developments that is conducive to a family lifestyle, Weyland said, which is what attracted him to the project.

He expects the townhomes to be a popular alternative to the condominiums and lofts springing up in the surrounding area. "This is really going to be dynamic."

City officials echoed that sentiment.

"It's a really bold design," said Louisville Metro Mayor Jerry Abramson. "I think it's a really edgy approach to development in downtown Louisville that we haven't seen before."

In particular, he likes that the units are similar to traditional walk-up neighborhoods in New York City and Chicago and that the configuration gives buyers a choice of buying one or multiple levels of a townhome.

In addition to the concept, the location and entry-level prices of the units are expected to make this project a success, Barry said.

He added that the proximity to the University of Louisville's planned health sciences campus downtown will make it an attractive housing option for researchers, staff and students, many of whom can afford to pay only the $100,000 starting price.

He believes those attributes will give Liberty Green a boost, even though the housing industry overall is down.

"Some of the problems that are occurring in other parts of the city (will not) impact Liberty Green as much," Barry said. "That goes back to the location and affordability and type of units -- townhomes as opposed to lofts."


--------------------------------------------------------------------------------

Liberty Green
Description: A mixed-income, mixed-use community in east downtown Louisville that will consist of at least 650 residential apartments and townhomes
Coordinated by: Louisville Metro Housing Authority with the help of nonprofit organization Community Builders, which is serving as the master developer
Project cost: $230 million
Web site: www.libertygreen.org

[card04]

I have been looking for affordable housing near downtown for when I graduate, Liberty Green is looking good. I was in the area last night at BBC, it has a lot of potential. I saw a lot of locally owned galleries and such. I can see this area becoming a great urban neighborhood once more housing is built.

[arenn]

By they way, I'll give myself a shameless plug and link to a blog post I put together about that merger study I referenced.

http://theurbanophile.blogspot.com/2...ty-county.html

[g-man430]

[orangecard]

Good to see some of this old manufacturing space being redeveloped.

Housing for U of L planned
Ohio company will build 426 apartments next to former American Standard plant

By Sheldon S. Shafer
sshafer@courier-journal.com
The Courier-Journal


A Columbus, Ohio, developer plans to build 426 apartments that would be rented to University of Louisville students on property adjacent to the old American Standard plant off Shipp Avenue near Seventh Street.

U of L recently sought proposals from developers to build up to 1,500 residential units for students that probably would be owned by the developer.

"We have a significant need for housing. We are becoming a residential campus," said Larry Owsley, U of L vice president for business affairs.

Edwards Communities has built housing for students at many schools, including the universities of Kentucky and Illinois and Ohio State University.

The company has a contract to buy 42.5 acres bounded by Shipp, Seventh Street and the Norfolk Southern and CSX railroad tracks in the Park Hill neighborhood, said William Bardenwerper, Edwards' Louisville zoning attorney. The site is just south of Hill Street.

American Standard long made plumbing fittings, bathtubs and sinks in Louisville. It closed its south Louisville plant in 1992 and moved production elsewhere. The site where the apartments are to be built has several old buildings, currently used as storage, that will be razed by Edwards.

In a separate venture, another developer, Phenix Investment Associates of Scottsdale, Ga., has an option to buy the main four-story American Standard structure near the corner of Shipp and Seventh, also intending a housing development for U of L students. A recent request for a demolition permit met with stiff opposition from preservationists, after which the developers said they would pursue renovation and the building was designated a city landmark.

Meanwhile, Edwards has filed plans with the Louisville Metro Planning Commission to develop the bulk of the adjoining American Standard property. The commission's Development Review Committee will consider the plan at 1 p.m. tomorrow in the Old Jail Building, 514 W. Liberty St.

Commission spokeswoman Connie Ewing said that, because no rezoning is required, the committee's approval of the plan is the only action the agency will need to take.

The site plan shows 15 three-story buildings with a total of 426 apartments. The development, not yet named, would have two courtyards and two clubhouses, each with a swimming pool.

Units would range in size from one to four bedrooms. The plan calls for a total of 1,336 beds and the same number of parking spaces on site.

Bardenwerper said the project probably would be built in two phases, with about two-thirds of the apartments ready for occupancy by fall 2009. The rest of the units would be built when the market demand exists, he said.

The main access to the development would be off Shipp Avenue. Both railroads are in use, and Bardenwerper said a walkway probably will be built over the busy CSX tracks. Who will build it hasn't been decided, he said.

The neighborhood is largely industrial, with a few homes on several short streets south of the American Standard building.

Bardenwerper said Edwards does not want to disclose its expected investment in the development, including how much it has agreed to pay American Standard for the land. He also said the rents haven't been set.

Owsley said the number of U of L students living on or near campus has grown from 1,800 to 3,300 in the last seven years. Its 2007 enrollment is nearly 21,700.

U of L issued the request for developers' proposals for student housing in October and received four replies, Owsley said. He said the responses are considered private at this point and declined to discuss them, or to confirm that Edwards was one of the companies that responded. But Bardenwerper said Edwards did respond.

U of L asked for the developers to make available about 400 units by fall 2009 and as many as 1,500 by 2015.

Private developers have built substantial student housing near the Belknap Campus. Typically, Owsley said, U of L works out an arrangement with the developers to provide university activities, counseling and programs for the student residents.

Reporter Sheldon S. Shafer can be reached at (502) 582-7089.

[JTS LOU]

I ran upon this photo today in photobucket.
i really like it.

[card04]

Wow that's a great pic...I hate to say it but if we were actually able to get rid of a bunch of Spaghetti Junction we'd have a lot more room for Waterfront Park and other development that would look great.

[mudvayneimn]

^It sure would. That pic is awesome, and it reminded me about the Big 4 bridge. Are they still working on getting it converted to a ped bridge? Or did they run into any problems?

[MurphysLAw]

"Are they still working on getting it converted to a ped bridge? Or did they run into any problems?

One of the news channels last week reported that the city now has full ownership of the bridge and the dispute has been settled. I think they said it would cost about 11 million to get it open to the public?. Not sure on that number.

[orangecard]

The AAA ratings are out, always fun to see.

AAA awards highest rating to one Louisville restaurantBusiness First of Louisville

Several Louisville hotels and restaurants have received four- and five-diamond ratings from AAA for 2008.

The Oakroom, located in The Seelbach Hilton Hotel, was the only local restaurant to receive five diamonds, AAA's highest rating.

On its Web site, AAA describes a five-diamond restaurant as "highly imaginative and unique," "renowned" and "haute cuisine at its best." The menus are "cutting-edge" and the restaurants uses "only the finest ingredients available."

The Seelbach itself received four diamonds. Louisville's other four-diamond hotels are The Brown Hotel and the Louisville Marriott Downtown. None of the city's hotels received a five-diamond rating.

Three Louisville restaurants received four diamonds: The English Grill, located in The Brown Hotel; Vincenzo's Restaurant and Z's Oyster Bar & Steakhouse.

For more information about the ratings and what they mean, click here.

[orangecard]

Here is a link to all the 4 and 5 diamond winners, if anyone is interested. Louisville fares pretty well against similar cities.

http://ww2.aaa.com/scripts/WebObject...13.1.0.1.1.0.0

[mudvayneimn]

Hey I don't know if anyone has seen this yet, but there is a pretty nice tower complex almost finished in Madrid Spain. It consists of 4 towers, and one of them is pretty much a taller, slimmer version of the old and dead Vencor Tower proposal here. Take a look at these posts (1, 2) to get an idea of how the tower would've looked. If Vencor was as tall/slim as the tower in the pics, my opinion on MP might have been a little different!

[card04]

That tower looks great...too bad I guess.

[mudvayneimn]

Well you have to think, Vencor was way shorter, and a lot fatter, so it might not have looked that great. But I'm still glad Vencor didn't happen or else we wouldn't have one of the most unique skyscrapers in the world starting construction.