Bill Weyland of City Properties Group continues to plot Downtown’s rebirth centered at Fourth and Chestnut Streets. I told you about his plans for a 105-room “hip” boutique hotel with 30 residences and a parking garage earlier today slated for the same intersection, but Weyland has had his eye on the 19th century Caperton Block pictured above for quite a while now, and has finally reached out and purchased the four-story brick property with a group of investors.
While there’s no timetable for renovating the building, tentative plans call for a mix of retail and residences called the Caperton Lofts, most likely apartments which remain strong in Louisville’s current economy. City Properties Group paid $1.2 million for the property which is listed on the National Register of Historic Places and dates to the 1880s. The Renaissance-revival structure has also gone by the name Guthrie-Coke Building after the trust who previously owned it.
Weyland says there’s great potential in the historic building and it’s a strong anchor for the corner. Long blocked off retail storefronts along Chestnut Street could be reopened as part of the future plans. City Properties Group is currently in discussions with several interested parties and is considering proposals ranging from residences to offices and potentially an addition to the western side of the building.