Bycks Lofts, a 16-unit mixed-use residential building on Fourth Street in Downtown Louisville, has been open to residents since 2008, but has had a difficult time attracting retail to its first-floor space. Now, according to Insider Louisville’s Caitlin Bowling, that space will be filled with a mini-Walgreens.
The nation’s largest pharmacy retailer will open one of its smallest stores in a 3,100-square-foot-space at 532 South Fourth Street. Walgreens bought pharmacy chain Rite Aid this month to take the top spot from CVS, which operates a larger store just a block to the north on the corner of Fourth and Muhammad Ali Boulevard in the former Stewart Dry Goods building.
Bowling reported that Michael J. DeHart of Horizon Commercial Realty landed the deal. A building permit filed Monday shows a budget of $100,000 for the project.
The space was briefly occupied by offices of the Louisville Downtown Management District, which merged with the Downtown Development Corporation to create the Louisville Downtown Partnership.
The design of Bycks Lofts’ first floor retail space has also presented something of an aesthetic challenge to the street. While the above structure shows Art Deco details in glazed terra cotta, a modern facade applied in the 20th century over an older building, the first floor installed during the residential conversion is clad with faux stucco EIFS, which has hampered the look of the overall complex. It remains to be seen what design Walgreens will bring to the facade.
Another storefront listed as 536 South Fourth, directly south of 532, does not appear to be part of the deal. That space features an inset entry with curving glass display cases and once housed Tiff’s Records.
Broken Sidewalk recently profiles progress taking shape along the South Fourth Street corridor, where there has been a flurry of new development and retail in the past few years.
Unfortunately I do think that SoFo does a need a few more commercial anchor tenants to keep the district alive. I don’t know how some of the local craft boutiques are able to stay afloat with what they are paying in rent and little street activity.