(WHAS11) - The first office building on U of L's Shelby campus opens it's doors and businesses have started moving in.
Churchill Downs, Inc. Semonin Realtors, Stifel Nicolaus and NTS Development have all moved their headquarters into the new building on North Hurstbourne Parkway.
About 50 percent of the income generated from the building will go to the U of L Foundation. It helps fund the academic and research mission of the university.
At the ceremony to open the building, U of L President James Ramsey announced that another project could make millions for the university has received final approval from the state. It means U of L will invest more than $200 million in the area around the Belknap campus.
In return, the university will get a portion of the state and local taxes over the next 30 years.