Development in Downtown Louisville is now officially very exciting—soon construction crews will be in every corner of the core city with a variety of new projects. The latest it yet another hotel on the corner of West Market Street and Seventh Street on the site of a large surface level parking lot.
Local developer Steve Poe of Poe Companies is partnering with attorney and businessman Tim Mulloy to lead the development team on the $23 million project, reports Chris Otts today at WDRB. The Homewood Suites, an extended-stay hotel under the Hilton banner, would climb eight stories on the prominent corner site owned by Mulloy’s family.
This project is particularly welcome in an stretch of Downtown dominated by streetlife-deadening parking lots and garages. According to Otts, the hotel will forego its own parking, instead opting to partner with the Parking Authority of the River City to fill an underutilized garage around the corner at 120 South Sixth Street.
The site is a block east of the soon-to-open Holiday Inn Express at Market and Eighth streets and a block south of the 21c Museum Hotel.
According to an initial rendering, the new building appears to complete the street wall on Seventh Street between Main and Market. It’s unclear at this point how the Market Street frontage is arranged, as a gap is shown between the hotel and the adjacent Republic Bank building that appears wider than the two-lane entrance to a parking garage.
Horizontal lines shown on the building facade appear to correspond with adjacent building heights in an effort to lend context to the design. We’ll follow up when more design information is available.
The team told Otts that the hotel will cater to businesspeople staying for extended periods in the city or convention-goers in town for a week or more. Each room will have its own kitchen and the hotel will feature an indoor pool, fitness center, and interior courtyard with a fire pit. No word on how many rooms are included or whether retail is part of the plan.
Otts said the project is expected to break ground this summer and could open in late 2017.
Poe previously developed the Aloft Hotel at First and Main streets, the Marriott at Third and Jefferson streets, and is working on the expansive RiverPark Place development on River Road at the foot of Frankfort Avenue. Mulloy is the chairman of the Downtown Development Review Overlay (DDRO) committee.
The rest of the development team includes REI Real Estate Services and Mulloy’s brothers Pat Mulloy and Mark Mulloy, Otts reported. Indiana-based White Lodging will manage the hotel once it opens.