The next time you drive around downtown Louisville, take a good look around because chances are, it won't look the same just a couple of months later. Downtown development in the Derby City is booming with new announcements coming out every few weeks - the proposed new arena, a new skyscraper, new hotels, museums, shops and restaurants, and two new markets... just to name a few. Now, one of the hottest developments is the trend toward downtown living with a wide variety of exciting new housing opportunities and styles.
With more than $800 million in construction occurring in Louisville's downtown, the streetscape, level of amenities and quality of life is rapidly changing. The number of housing units has doubled in the last 20 years, with 900 units available in 1985 and more than 1,800 units available today. Those number are expected to double yet again within just the next three years, with 3,600 downtown housing units built, under construction or in development.
Gallery Square Lofts 
The $4 million, 21-unit condominium project directly adjacent to Liberty Green is the newest housing project to come online in downtown Louisville.
Located at the northwest corner of Clay and Jefferson streets, Gallery Square 
features four three-story buildings, with 10 first-floor flats and 11 two-story, two-bedroom loft townhouses, each with private rooftop decks overlooking the city skyline. Pre-construction prices start at $180,900.
Slated to be complete in Fall 2007, residents will be able in walking distance from the central business distance and the East Market and Main Street Arts district.
Find out more at: http://www.gallerysquarelofts.com/
Museum Plaza
The most recent proposed addition to our downtown's landscape is a larger-than-life project that will add vitality and character to our entire community.
Museum Plaza will include luxury condominiums, loft apartments, office space, a hotel, retail space and a contemporary arts museum in the iconic "island".
This $380 million project is still in development. However, the plans reflect an increase in interest to live and work in an urban setting, be able to walk to restaurants, shops, a Broadway show, and to feel the camaraderie of neighbors, who increase day by day in the new downtown neighborhood.
Sharing the public plaza with the Muhammad Ali Center, residents and visitors will be able to experience other cultural, museum, and entertainment venues in Museum Plaza. Find out more at: http://www.museumplaza.net/
Henry Clay
Located at the southwest corner of Third and Chestnut Streets, this $20 million rehabilitation of the former Henry Clay Hotel and YWCA assures saving one of the city’s most noticeable and historic buildings.
The lower floors will house commercial and event space. The Grand Ballroom and the Elks Room will be preserved and renovated to their former glory. Also available to the public will be a two-story rooftop garden carved out of the fourth and fifth floors. Upper floors in the building will provide 70 units of residential space.
The project also includes property that extends east to Fourth Street, which will become a public piazza, and the historic Wright-Taylor Building on Fourth Street, which will contain additional commercial space.
Henry Clay is being developed by City Properties Group.
Mercantile Gallery Lofts
This $10 million adaptive reuse project will convert two historic buildings and add a new building, into 47 condominiums and retail space.
Located at 301-311 E. Market Street, this location has moved from being a diamond in the rough to a an up-and-coming revitalized hotspot, due to the recent investments in Waterfront Park and Slugger Field.
Mercantile Gallery Lofts includes 56 parking spaces in an adjoining garage. Find out more.
The Hub 
The Hub includes new construction of two 5-story buildings that will house 60 apartments and retail space.
Located at 300-320 E. Market Street, this $3.5 million project is another addition to the East Market arts district and part of the $150 million in investment as a direct result of the opening of Slugger Field.
Learn more on the Louisville Downtown Management District website.
Fleur de Lis Condos
This $22.5 million project will be a new 5-story building with 74 condominiums and retail space. Preserving the historic Brinly-Hardy site's appearance, the design includes two interior courtyards.
Located across the street from Slugger Field, this project is part of $150 million in new investment as a result of the popular ballpark and newly revitalized East Market Street arts district.
Learn more at Potter and Associates website.
21C (Now Open)
This new $26 million, 90-room hotel is the only boutique hotel in Louisville, offering more personalized services to its customers.
It also houses a 21st century, contemporary art museum, displaying works of local artists. Being both a destination for art, and a home away from home, a museum/hotel in downtown Louisville will boost downtown with more visitors, both locally and from around the country.
It is in the middle of the historic and cultural arts district, and is a great addition to the other improved buildings along Main Street. This renovated building is part of the second largest collection of cast iron facades, behind the SoHo District in New York City.
Visit the 21C website.
Proof on Main, housed in 21C, is also now open. Operated by Drew Nieporent's NYC-based Myriad Restaurant Group, Proof on Main opened in March 2006 at 702 West Main Street in Louisville, Kentucky. It features modern American food with Tuscan influences.
For a full list of development opportunities in downtown, see the Louisville Downtown Management District website.