In October, developers from the Poe Companies celebrated a new investment partner REI that helped restart construction at the marina for the stalled mixed-use RiverPark Place after the site had been quiet for well over three years. Monday at 11:00 a.m., Mayor Fischer will join developers from the Poe Companies to mark another groundbreaking at the project site on River Road and Frankfort Avenue.
Steve Poe told the C-J in early October that financing for the 149-slip marina had been secured but financing for the $21 million first phase of housing—164 apartments atop a 200-car garage—had yet to be found, noting that funding wasn’t a major challenge and predicting construction on housing commencing by the end of the year. With today’s groundbreaking, could financing for housing be in hand? Apartments would range from $625 to $1,400 for one to three bedroom units. Construction is estimated to last about 14 to 16 months.
The entire masterplan designed by Boston-based Goody Clancy with local K. Norman Berry Associates calls for about 1,500 total residential units (mostly condos) across the 80-acre site, many located in towers including twin 16-story towers framing Frankfort Avenue. The marine, stores, a gym, and restaurants round out the proposal. Future phases are still in limbo and will follow as market conditions dictate.
The marina is expected to be open by April 2012 along with a pedestrian promenade connecting Waterfront Park with Eva Bandman Park.
As with all project involving Steve Poe, I’m not going to get excited about this until it is complete. And based on his track record, that may never happen.
Whats to become of the Padgett house under this plan? I noticed that it is in the rendering; will it be restored?
@John – Way to be an encourager! Who are you anyway? Who cares. Let’s encourage the people who want to make a run down place a better one. Steve Poe is a success.
@GiGi Perhaps you didn’t follow the now-defunct Museum Plaza or Crossings at Irish Hill projects.
Here come the naysayers……..
And it is exactly this line of thinking that will continue to impede progress. Yes sometimes there are hits and misses, sometimes more misses than hits, and even occassionally are caused by international economic downturns that are completely out of our control. Nevertheless, I don’t see how being content with mediocrity is better than attempting to do better, but if you and others in the city continue this pessimistic negative outlook of people like Mr. Poe that are trying to do better for this city, than Louisville is goingto continue to drift in such mediocrity and not reach it’s full ptoentital.
@John – Was out of his hands.
@ John It’s frustrating to see great projects stall or cancel, but Steve Poe sounds like one of those guys that gets back on the horse and doesn’t quit because a couple of awesome projects have failed. At least get excited that he’s attempting to create growth in Louisville.
*sight* Louisville get try new of project keep of growth but, during bad economy cant get new of project in Louisville still fail from that project. That kind of sad. 🙁
Does anyone know how the proposed botanical gardens fits in with the RiverPark Place project? http://waterfrontgardens.org/
Ken, if you look at the aerial photo (second from the top), the botanical garden will be located on the expansive swath of grassy space in the center foreground across River Road from RiverPark Place.