Local Louisville KY real estate developer Kevin Cogan has big plans for 2 new office buildings to be located in downtown Louisville Kentucky. The plans call for 2 office building with 12 floors each on top of parking that will encompass 8 floors each to be built at the corner of Jackson and Main Streets (in between Preseton & Jackson, and Jefferson & Main), immediately across the street from Louisville Slugger Field.
The project is estimated at $150 million and will feature 2 prominent mostly glass exterior structures that should be quite visibly appealing to most persons. The two buildings with their 8 lower levels below show approximately 1466 parking spaces. It is expected that only 2 of the lower levels will be below ground parking, the remaining 6 levels will be above ground, and the 12 story buildings on top of that.
It has been announced that Jim Patterson will be a partner on the project. The office space is shown as having approximately 626000 of office space.
The time table for the 2 office buildings and parking shows the first space being available in 2010 for the first building, with the 2nd building to be available sometime in 2012.
Part of the motivation for the new buildings is because the Louisville KY real estate Class A office space market is at one of the lowest vacancy rates that its been at for years. And recently, Humana has sent requests out to the local Louisville KY real estate developers seeking approximately 300000 of space.
The property is currently inappropriately zoned as industrial and will need to go through a zoning change to get approval for heavy commercial on the 2.09 acres.
Deeley Family LLC currently owns the parcel and has stated that Cogan has a contract to purchase the subject real estate property.
Additionally it is important to note, Cogan has a contract on the property immediately south of this real estate, to buy the real estate at 431 East Market Street.
It should certainly be a welcome addition to the downtown Louisville KY community, and further stimulate growth and redevelopment of the downtown and waterfront areas.
Downtown Louisville KY Real Estate Development
The project is estimated at $150 million and will feature 2 prominent mostly glass exterior structures that should be quite visibly appealing to most persons. The two buildings with their 8 lower levels below show approximately 1466 parking spaces. It is expected that only 2 of the lower levels will be below ground parking, the remaining 6 levels will be above ground, and the 12 story buildings on top of that.
It has been announced that Jim Patterson will be a partner on the project. The office space is shown as having approximately 626000 of office space.
The time table for the 2 office buildings and parking shows the first space being available in 2010 for the first building, with the 2nd building to be available sometime in 2012.
Part of the motivation for the new buildings is because the Louisville KY real estate Class A office space market is at one of the lowest vacancy rates that its been at for years. And recently, Humana has sent requests out to the local Louisville KY real estate developers seeking approximately 300000 of space.
The property is currently inappropriately zoned as industrial and will need to go through a zoning change to get approval for heavy commercial on the 2.09 acres.
Deeley Family LLC currently owns the parcel and has stated that Cogan has a contract to purchase the subject real estate property.
Additionally it is important to note, Cogan has a contract on the property immediately south of this real estate, to buy the real estate at 431 East Market Street.
It should certainly be a welcome addition to the downtown Louisville KY community, and further stimulate growth and redevelopment of the downtown and waterfront areas.