LOUISVILLE, Ky. (WHAS11) -- A downtown development project that has been slowed by the economy is finally on the move. The developer is the company behind Fourth Street Live, the Cordish Company.
The Center City Complex would be located on the old Louisville Water Company site which is surrounded by Muhammad Ali Boulevard and Second, Liberty and Third Streets.
The Cordish Company believes the city is now positioned for this type of growth and they say they've got all the private financing in place. They're hoping to limit any public help.
It's a mixed use development that will be done in phases. It will include a 600 room four-star hotel; which they've already secured and will be new to the Louisville market. There will also be 200 apartment units, 53,000 square feet of retail space, a major specialty grocery store and 900 parking spaces. The overall budget is $245 million. And they've been working with the city to evolve this plan and requests from the community.
They hope to have an agreement with the city this fall and are working diligently to make that happen. Their goal is to commence construction in 2014.