Historic property sale contributing to downtown development

Historic property sale contributing to downtown development

LOUISVILLE, KY (WAVE) - A spokesperson for the Ohio River Bridges Project has confirmed bids were placed on Grocers Ice & Cold Storage and Rosewell Properties for $400,000 and $400,001. The bids are pending until approval from the state.

Denton Floyd Real Estate Group said they plan to turn the former Grocers Ice & Cold Storage building into 70 luxury apartment units.

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"We are truly excited about this adaptive reuse project" Brad Denton said. "Our plan is to convert an eyesore that has been in disrepair for many years into a new multifamily complex for young professionals who want to take advantage of urban living in downtown Louisville. We feel that the amenities in the area with the restaurants and the upcoming soccer stadium, all within walking distance, will be a strong draw for folks who are looking for a place to live."

Denton Floyd told WAVE 3 News that the project gives them an opportunity to continue the revitalization of the NuLu/Butchertown area.

Nearby businesses said they are thrilled for the new neighbors and new business.

"With all the new construction, with the soccer field going in Butchertown, it's just going to be tremendous," Ted Mitzaff, CEO of Goodwood Brewing Company, said. "It seems like all the growth is in this area. We're really excited about all the traffic to be in NuLu."

200 apartments are going across the street from the business, and the old Grocers Ice and Cold Storage building will add an additional 70 apartments. Mitzlaff said the business is ready for a boost after a tough summer. The developers had to deal with the collapse of part of Main Street after a sewer pipe broke.

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"We've had a lot of issues with the collapse of the sewer. That's obviously been very detrimental to our business in the taproom. We're looking forward to the silver lining in the cloud," Mitzlaff said.

They might not have to wait too long to make Goodwood the hot spot for the new neighbors. Developers said they'll break ground in late 2018.

"Once the facilities are open there'll be foot traffic - constantly," Mitzlaff said.

The Drumanard property is being offered for public sale by sealed bid, with a bid opening date of Thursday, October 12 at 1:30 p.m.

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