WAVE 3 TV Louisville, KY | Local businesses banking on arena's success

Local businesses banking on arena's success

By Connie Leonard - bio | email
Posted by Charles Gazaway - email

LOUISVILLE, KY (WAVE) - The tough economy is hitting everyone. It is impacting budgets and local business, but we found more business owners are taking a chance downtown. They are hoping to profit on the expected success of the new arena, but there is a bigger goal in mind: Being part of a new "homegrown business" effort downtown.

"Clearly, we're looking forward to the crowds that are going to be there," said Bruce Jarrett said of the future basketball fans that will flock to the arena. "We're hoping that's the icing on the cake that people will support us downtown."

Jarrett is part owner in a familiar group of Louisville Irish pubs and restaurants. O'Shea's, the same folks with pubs in the Highlands and St. Matthews, are diving into Louisville's historic Whiskey Row with their latest venture called Patrick O' Shea's.

"There are three different floors to serve the public," Jarrett said of their latest Irish offering. 

The new restaurant and pub is just steps away from the arena and will offer entrances on Main and Washington streets. It boasts unique ironwork, original hardwoods and exposed brick, but preserving the historic building took some leg work.

"We went to New York and Chicago and other places that had challenging buildings because they're all very narrow and old and had to have special care taken to do them right," said Jarrett.

The owners are banking that the investment will be worth the risk. Patti Clare, deputy director of the Downtown Development Corporation, said since the arena construction began interest for new business has increased greatly. 

"It's a trying economy everywhere and a trying economy here in Louisville and in the state of Kentucky, but we are seeing renovations happening and we're seeing people interested in coming downtown," said Clare. 

Stylist Katie Turpen and her business partner Cindy Cashen are renting a floor in Tom O'Shea's building. One Twenty Three West Main is also the name of their new downtown hair salon. 

"With all the buzz of the arena and just this whole renovation of this entire area, we really wanted to get involved with that and we thought it would be a great new concept for Louisville," said Cashen.

The concept being cashing in on the growing downtown business crowd. 

"People can come during their lunch, before work or right after work so they don't have to get in their car and hit the rush hour traffic or spend time away from their family, they can just walk up and get right in," Turpen said.

"The more activity in this area, the better it's going to be for the city in general," said Jarrett of his new neighbors.

Patrick O'Shea's should be open by the end of the year. One Twenty Three West Main should open in January. Downtown Development officials say thanks to the arena's progress the public will be seeing more streetscape work soon as well as more restaurants and retail space.

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