New and improved plans for Center City district - wave3.com-Louisville News, Weather & Sports

New and improved plans for Center City district

Model of the Center City (Source: The Cordish Company) Model of the Center City (Source: The Cordish Company)

LOUISVILLE, KY (WAVE) - The developer responsible for Fourth Street Live! now has a new $245 million plan to develop the Center City District.  

The Center City plan has been on the table for years, but the Cordish Company said the revised plan will address the requests of the community.  

According to a statement issued by Cordish about the revised plan, the Convention Center Task Force told them Louisville needs more hotel rooms in order to be competitive with other cities. Cordish says the new development will include a four-star hotel with 600 rooms. Also included in the plan is a specialty grocery store, 900 parking spaces and retail space.  

Cordish, who will privately finance the construction with the help of city and state tax rebates, announced that 100% of the private financing is already in place. The goal is to have a deal in place with the city by fall and to begin construction in 2014. The first phase of the project is projected to take 18 months to complete.  

"We're looking at all the possibilities from a financial standpoint," said Louisville Mayor Greg Fischer, "and I want to make sure that any deal that is done is a good deal for the taxpayer, it's fully transparent and everybody feels like it's something that's good for the city." 

The project would bring 1,000 construction jobs to Louisville and 450 permanent jobs.  

Copyright 2013 WAVE News. All rights reserved.

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