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Metro Louisville Urban Development: SoBro

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Guest lecturer, Brent Collins, delivers a presentation to the University of Louisville eMBA students regarding Urban Development in Louisville's SoBro District. Luckett & Farley, the city's oldest architecture and engineering firm, calls SoBro home. It has played a role in the original urban development of Louisville beginning in 1853, with some of the firm's historical structure still present in the neighborhood. While many studies have been conducted in recent past, the "no man's land" of downtown is searching for an identity and beginning to organize its stakeholders to play a critical role in helping Louisville realize a strong Fourth Street Corridor from Main Street to Churchill Downs.

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Metro Louisville Urban Development: SoBro

  1. 1. METRO LOUISVILLE URBAN DEVELOPMENT #SoBroLou BRENT COLLINS Luckett & Farley July 27, 2013
  2. 2. • Architecture/Engineering/Interior Design • Best Places to Work • Founded 1853 – oldest in the U.S.
  3. 3. THE URBAN PLANNING MOVEMENT Louisville Urban Development
  4. 4. • JC Murphy, active Louisville Urban Planner • One of the "founding fathers" of the Louisville Planning Commission and incorporating the "new" concept of zoning within the city
  5. 5. City Hall Clock Tower Replacement 1876
  6. 6. Home Life Building Addition, Heyburn Building 1922
  7. 7. German Bank, Louisville National Bank 1914
  8. 8. Snead Building (Glassworks) 1909
  9. 9. Cathedral of the Assumption 1858
  10. 10. St. Boniface’s Catholic Church 1899
  11. 11. Whiskey Row 1871, 1877, 1905
  12. 12. Waverly Hill Sanatorium 1926
  13. 13. Churchill Downs 1895 - Present
  14. 14. DOWNTOWN Louisville Urban Development
  15. 15. WEST DOWNTOWN Louisville Urban Development
  16. 16. James F. Irvin House 1860
  17. 17. Jefferson Branch - Louisville Free Public Library 1913
  18. 18. SOBRO “No Man’s Land”
  19. 19. Presentation Academy 1893
  20. 20. Monsarrat Fifth Ward School 1855
  21. 21. Ronald-Brennan House 1870
  22. 22. Nazareth College 1871
  23. 23. Urban Land Institute Study How can Louisville create an identity for, improve connections between, and foster desired development along the diverse districts of the Fourth Street corridor?
  24. 24. Observations: SoBro • Strong institutional assets – Library – Spalding University – Presentation Academy – Kentucky School for the Arts – Memorial Auditorium – Simmons College of Kentucky – Jefferson Community and Technical College – Churches • Broadway is perceived as a barrier • Perceived difficulties of new development regulations • And…
  25. 25. Lots of Lots
  26. 26. Opportunities • Increasing student population • Attractive to the arts community • Sports fields or complex for public and institutional use – Spalding University, Presentation Academy, Saint Francis School • Business and retail expansion prospects • Streetscape upgrades • Bicycle and walking/jogging pathway system • Assemblage of publicly-owned properties for redevelopment • Metro Parks’ upgrades and development of greenspace system of small parcels and strips • Available housing stock for renovation or adaptive reuse • Tax incentives • Re-zoning
  27. 27. Where to begin? • Communicate • Organize • Benefits for stakeholders • Support from Metro Government • Create a unique identity and interest
  28. 28. BRANDING SOBRO Louisville Urban Development
  29. 29. IMPLEMENTATION TOOLS Corridor Development
  30. 30. Implementation Tools • Public finance – Make public land available – Leverage assets – Sales tax proposal • Partnerships to direct investment in the corridor
  31. 31. • Leverage Parking Assets to Fund Development Priorities – Metro controls significant portion of parking supply – Privatize parking garages • Offers capital raising opportunity • E.g., 1,000-space ramp – Monetization – can leverage $10M – Price Increase - $10/space, $120K/year, $1.6M net present value – Revenue targeted for catalytic projects Implementation Tools
  32. 32. NULU Success Story
  33. 33. NuLu Organizes • 1991 • Unified voice for businesses • Metro Development support • Recruit businesses
  34. 34. YOUR IDEAS What’s next?
  35. 35. Brent Collins Marketing Manager bcollins@luckett-farley.com @LFMarketing

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