LOUISVILLE (WHAS11) – A New York firm with a Louisville connection is investing millions into a property that will be used to draw business professionals, as well as technological enterprises.
Louisville native Nick Campisano created Campisano Capital in 2016 and hopes to offer business professionals a space at 552 E. Market.
Campisano said the building at the corner of East Market and South Hancock is an ideal location between the trendy neighborhood of NuLu and the Central Business District. The investment company said the space is also easily accessed via all major Louisville highways. They are calling the space “The Gateway to NuLu.”
“We are thrilled to be bringing some of the best minds in Louisville under one roof. We believe this will drive further innovation and technological enterprises in the community,” Campisano said.
Currently, extensive renovations are underway, including cosmetic changes, a glass stair tower and an addition to the fourth floor. The property purchased by Campisano Capital totals 71,396 square feet. After the fourth-floor addition, the space will be 72,000 square feet.
As of June 21, Campisano said, a business called Lodgic: Everyday Community plans to take the entire first floor of the East Market building. This business combines a restaurant, coffee shop, coworking space and childcare center to create a space for the modern working family.
“Lodgic Everyday Community is redefining co-working, combining a productive and flexible work environment with outstanding food & beverage options, as well as childcare services,” Campisano said.
Another tenant is expected to be El Toro, EdjAnalytics and Campisano Capital. They will occupy the second, third and fourth floor.
The project size totals $12.2 million.
“As you think about NuLu, I think the new word is new lift, because this tech hub is going to be just the lift we needed,” said District 4’s Councilwoman Barbara Sexton Smith.
The project is just another sign of Louisville’s apparent shift towards tech.
Earlier in June, the city signed a deal with Microsoft to become a regional hub. In April, the University of Louisville teamed up with IBM.
There was a huge fallout though, too, when Google Fiber backed out of the Louisville deal in 2019.
“I was not disappointed by Google Fiber, I took that as a learning opportunity. We needed to learn some lessons about what worked and what didn't work and how did we manage our expectations,” said Sexton Smith.
Sexton Smith said her district is the perfect backdrop for an innovative spot like Gateway to NuLu.
“Louisville is not only cut out to be a tech hub, Louisville, KY is designed to be a tech hub. We're the center of everything. There is no fear.”
Renovations on the building are expected to start next week and are said to be completed by February 2020.
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