metro louisville urban development: sobro

METRO LOUISVILLE URBAN DEVELOPMENT

#SoBroLou

BRENT COLLINSLuckett & Farley

July 27, 2013

• Architecture/Engineering/Interior Design• Best Places to Work • Founded 1853 – oldest in the U.S.

THE URBAN PLANNING MOVEMENTLouisville Urban Development

• 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

City Hall Clock Tower Replacement1876

Home Life Building Addition, Heyburn Building1922

German Bank, Louisville National Bank1914

Snead Building (Glassworks)1909

Cathedral of the Assumption1858

St. Boniface’s Catholic Church1899

Whiskey Row1871, 1877, 1905

Waverly Hill Sanatorium1926

Churchill Downs1895 - Present

DOWNTOWN Louisville Urban Development

WEST DOWNTOWNLouisville Urban Development

James F. Irvin House1860

Jefferson Branch - Louisville Free Public Library1913

SOBRO“No Man’s Land”

Presentation Academy1893

Monsarrat Fifth Ward School 1855

Ronald-Brennan House1870

Nazareth College1871

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?

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…

Lots of Lots

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

Where to begin?

• Communicate• Organize• Benefits for stakeholders• Support from Metro Government• Create a unique identity and interest

BRANDING SOBROLouisville Urban Development

IMPLEMENTATION TOOLSCorridor Development

Implementation Tools

• Public finance– Make public land available– Leverage assets– Sales tax proposal

• Partnerships to direct investment in the corridor

• 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

NULUSuccess Story

NuLu Organizes

• 1991 • Unified voice for businesses• Metro Development support• Recruit businesses

YOUR IDEASWhat’s next?

Brent CollinsMarketing Managerbcollins@luckett-farley.com@LFMarketing