Rendering is mixed-use proposal (Courtesy Investment Property Advisors)
[ Editor's Note: This is an update of a previous article that cited information incorrectly reported by the Courier-Journal. We gathered this new information ourselves directly from the neighborhood and developers, so hopefully this should clear up the lingering mis-information out there. ]
An entire 4.5 acre block is slated for redevelopment on the southern edge of Old Louisville adjacent to the University of Louisville. Investment Property Advisors of Valparaiso, Indiana has put together a mixed-use proposal including retail space, a mix of market rate apartments and student housing, a landscaped interior courtyard, and underground parking in an attempt to create a vibrant University Center catering to students and the community at large.
The target block is bounded by Cardinal Boulevard and Bloom Street between Third & Fourth Streets. Two historic brick houses and an apartment building on the site’s northeast corner will remain and be incorporated into the project. The Masterson’s dining room and catering service, dating to the 1950s as a diner, will be demolished under the proposal.
An original plan presented to the Old Louisville neighborhood last year called for 300 housing units with 700 beds, 50,000 square feet of commercial space, and 350 to 400 parking spaces on site, mostly underground. One of the historic buildings on site would have been demolished for surface level parking and buildings on the preliminary plan would have ranged from four to seven stories. Working with the neighborhood, the developers slightly reduced the scale of the project to around 250 units with 600 beds, limited commercial space to 28,000 square feet, and cut parking down to less than 150 spaces. Perimeter building heights were held at four stories with one five story structure in the middle of the block. The project components are still being determined and are subject to change before a final plan is announced, but the developers believe a vibrant mixed-use project is the right fit for the area so close to the University.
Block slated for mixed-use redevelopment
Click through to read more and see site photos, renderings, and site plans.
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