Friday January 25, 2013
The city has purchased a prime 30-acre tract of land in Western Louisville and plans to aggressively market it to companies wishing to expanding or relocate to Louisville, Mayor Greg Fischer announced today.
The property, at 30th and Muhammad Ali Blvd, was the former home of National Tobacco and is currently owned by state government.
“This property is ideal and ready for development,” Fischer said. “The site is clear with no significant environmental issues. It’s on a rail line, abuts the interstate and is surrounded by a ready workforce.”
Fischer said one of the most important initiatives of his administration is to help revitalize Western Louisville and attract jobs, retail and new housing to Russell, California, Portland, Chickasaw and Shawnee.
“When we began to think strategically about how to make that happen, it was obvious that everything ties back to jobs. If we can create good jobs, that will improve the neighborhoods,” he said. “When we began to talk to companies about investing in Western Louisville, we ran into the same obstacle time and again -- there was no significant amount of land to build a plant, a factory or an office.”
The city will pay $1.2 million for the property — $750,000 which comes from a settlement with the state over an unrelated right-of-way dispute and $500,000 that Fischer allocated in the current fiscal year budget, which Metro Council approved.
The property, in the district of Councilwoman Cheri Bryant-Hamilton, will be marketed by Larry McFall, who oversees Riverport, the very successful industrial and commercial development in Southwest Louisville.
“I am excited about this project and the impact it will have to this area. Bringing economic development and jobs to West Louisville is a top priority for all of us in Metro Government,” Hamilton said. “It is my hope that this project could be the jump start needed that will help us in the development of the West Market Street Corridor Project.”
Fischer said his administration, along with McFall and Greater Louisville, Inc., are seeking companies that will create good jobs.
“We’re not looking for just any tenant. This is prime land and we want prime jobs that pay well,” Fischer said. “It’s very unusual to have 30 acres ready to develop in the urban core of Louisville.”