A six-story art-deco building at 118-122 East Main Street has been sold and will undergo a major renovation to house the headquarters of a local software and telecommunications company. Indatus, formerly Planet Telecom, purchased the 57,000 square foot Bridges-Smith Paint Company building for $1,575,000 and plans to invest a total of $6 million in the property.
Dave Durik, a partner in Indatus with Phil Hawkins, says the new design will maintain the art-deco design of the building while bringing in modern elements to reflect the high-tech nature of their business. He notes the company will be using historic tax credits as part of the funding package and the upgrades will be in line with an historic renovation.
While the structure looks like one contiguous building, it’s actually two distinct structures. The art-deco facade was not original to the building, but is believed to have been applied in the 1940s. The taller building dates to the 1870s when it was a warehouse for Four Roses bourbon and features 18-foot-tall ceilings and wood & masonry construction typical of 19th century industrial design. The two-story portion was added in the 1940s and is built of concrete.
Currently located in New Albany, Indatus has been growing rapidly and was in search of a high-profile location. Downtown Louisville offered the right amount of visibility to interface with the local community. Durik also appreciates the energy from being in between the new arena and Slugger Field.
Indatus will take about half of the building for their own offices and lease out the rest. The concrete side of the building will house a world-class data center. A decision on sidewalk retail space hasn’t been made yet, but a small retail outlet on the east side of the building could be incorporated.
Durik says the renovation could also include a basement retail space featuring rustic wooden beams and 12-to-14-foot-tall ceilings. He envisions a restaurant, martini bar, or coffee shop taking the unique space.
Indatus is working with Stengel-Hill Architecture of West Main Street on the design and layout, but final plans aren’t ready yet. Currently, plans call for creating an atrium inside the taller building by pulling the second floor back and installing a glass elevator that reaches to the basement.
Included in the property is a small vacant parcel at 114 Main Street. Indatus is investigating the potential of installing geothermal wells to heat and cool the building and data center. If the system is installed, Durik says the data center will be one of only a few in the country cooled by geothermal. They are also looking into the feasibility of LEED certification.
Renovation work will start this year and the finished product could be complete by Summer 2011.