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.
5. • 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
35. 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?
36.
37. 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…
39. 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
40. Where to begin?
• Communicate
• Organize
• Benefits for stakeholders
• Support from Metro Government
• Create a unique identity and interest
47. Implementation Tools
• Public finance
– Make public land available
– Leverage assets
– Sales tax proposal
• Partnerships to direct investment in the
corridor
48. • 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
