A local housing developer is buying this well-known downtown Louisville office building
- An office building on Broadway downtown is undergoing a change in ownership.
- The developer acquired the former dealership for around $6.5 million in late 2022 with plans to construct approximately 200 market-rate apartments on the site’s 5 acres.
- Demolition of smaller buildings on the property is currently taking place, while the main showroom will be converted into a clubhouse.
- The former bank headquarters, built in 1967 and previously occupied by the Bank of Louisville, was auctioned in April but has not yet officially changed hands.
- Architecture firm Luckett & Farley had purchased the building, parking garage, and property for about $3 million in 2017, with a plan to convert it into a 195-room Hotel Indigo.
- However, the project did not move forward as initially envisioned, and the tax increment financing district approved by the Louisville Metro Council was not activated.
- The new developer aims to revitalize the Broadway corridor and promote investment in the South of Broadway (SoBro) neighborhood.
- LDG, the developer acquiring the property, is also involved in other developments in the area, including The Prestonian and the redevelopment of the former Greyhound bus station property.
Downtown Louisville’s well-known office building on Broadway is undergoing a change in ownership. The developer purchased the property for around $6.5 million and plans to construct nearly 200 market-rate apartments on the 5-acre site. Demolition of smaller buildings is currently underway, and the main showroom will be transformed into a clubhouse. Previously, the building served as the headquarters for the Bank of Louisville but faced high vacancies after 2004. Architecture firm Luckett & Farley’s plan to turn it into a hotel did not materialize. The property, with an assessed value of over $3 million, is part of a broader redevelopment effort in the SoBro neighborhood. LDG, the acquiring developer, is involved in other projects in the area as well.
