New Owners Take Control of Whiskey Row Buildings
Tuesday August 2, 2011
City to help stabilize facades to ensure preservation
An investment group planning a multi-million dollar renovation of Main Street’s historic Whiskey Row has officially taken ownership of the properties.
The group, led by Steve Wilson and Laura Lee Brown, closed last Friday, July 29th, on the purchase of these buildings that it plans to renovate into a mixed-use development.
“These architectural treasures, once the center of Louisville’s historic bourbon industry, will be saved and restored,” Mayor Greg Fischer said. “Steve, Laura Lee, and their partners have great plans for these properties.”
“We are excited about the opportunity to restore these Whiskey Row buildings into an innovative development,” Wilson said. “Our community owes a big thanks to Mayor Fischer for leading the effort to save these buildings.”
The group purchased four buildings from former owner Todd Blue. Blue donated a fifth building to the Louisville Downtown Development Corporation which, in turn, contributed it to the investment group.
The investment group, which was created by the Downtown Development Corp. and includes the Brown-Forman Corp and several civic-minded partners who wish to remain anonymous, paid $4.85 million for the properties.
The city has agreed to help stabilize the decaying buildings by investing $100,000 for every $1 million invested by the investment group, up to $1.5 million. “The planning has already begun and actual work on the stabilization will start soon,” Wilson said.