Louisville Metro identifies three companies to develop downtown city-owned lots
Louisville Metro Government (LMG) has awarded three different development companies the first rights to develop prime city-owned properties downtown.
In May, LMG issued a Request for Qualifications (RFQ) seeking development teams to repurpose several city-owned sites downtown with the goal of making downtown Louisville an active, vibrant, unique and green 24/7 neighborhood, business district and tourist destination.
Following a review of the responses and series of interviews with applicants, Poe Companies and Weyland Ventures, both Louisville-based development companies, were selected to continue due diligence to develop the properties at Main and Washington streets and the Civic Center, respectively. Dallas-based developer Lincoln Property Company was chosen, in partnership with local company LDG Development, to move forward with the possible redevelopment of the Mud Lot, located at the southeast corner of Jefferson and Ninth streets.
The Civic Center includes the Fiscal Court Building, the former Louisville Metro Police Department headquarters, the Market Street Parking Garage and the surface parking lots on the south side of Market Street between Sixth and Seventh streets. Main and Washington streets properties include the vacant lot at the northeast corner of West Washington and North Seventh streets, the surface parking lot at the northwest corner of West Washington and North Seventh streets, and the two lots at 615 and 621 W. Main St.
“We are excited to announce our plan to transform these underutilized properties into centers of activity in our downtown, which is the heart of our city,” said Mayor Craig Greenberg. “Growing Louisville Together, the city’s draft economic development plan, highlights our need to invest in quality of place to attract and retain the talent that companies are seeking. These properties will also give us the opportunity to create more quality housing for our residents. By redeveloping these city-owned lots, we will create new opportunities to engage Louisvillians and visitors and add to the vibrancy of our downtown.”
Each development company will now investigate the properties and develop specific redevelopment plans that will include uses, financing mechanics and tentative construction timelines. Uses may include affordable and market-rate housing, hospitality, arts and entertainment, distilling/bourbon, commercial, grocery and/or mixed-use projects. The proposed plans are expected to be complete by mid-2024.
“These Downtown properties are centrally located and large tracts which have been underutilized for years and present a significant opportunity to revitalize the Downtown neighborhood,” said Rebecca Fleischaker, executive director of Louisville Downtown Partnership. “We look forward to seeing these properties add investment, energy, and vitality to Downtown.”