Tuesday November 28, 2006
A new Louisville Arena on the riverfront is a step closer to reality today as state and local dignitaries turned shovels of dirt in a ceremonial groundbreaking for the city’s newest sports and entertainment venue – and a key economic development generator. The site of the arena is the block bordered by River Road and Main Street between Second and Third Streets.
Louisville Mayor Jerry Abramson was joined by state and local officials, including Kentucky Governor Ernie Fletcher, State Senate President David Williams and Metro Council President Kevin Kramer, in marking the occasion as an economic opportunity for the community and for the state.
Mayor Abramson said, “The waterfront arena will be a powerful catalyst for economic development that will have a ripple effect throughout downtown, spurring multi-million dollar investments in underdeveloped blocks and creating more exciting options for residents and visitors to Louisville.”
“Today is a great day not just for Louisville, but for the Commonwealth as a whole," said Governor Fletcher. "This project is proof that, working together, we can make Kentucky a better place. The economic impact of this arena will reach across the entire Commonwealth, and those who have worked diligently on this project are to be commended for their valiant efforts to make this day a reality."
While ground was broken today, actual construction on the arena will begin in Summer, 2008. Louisville Gas & Electric is in the process of relocating equipment currently on the site, with construction of its new substation beginning in Spring, 2007. The Louisville Arena Authority has purchase agreements in place with Humana and L G & E, the present property owners
PC Sports, LLC of San Antonio was hired in September by the Louisville Arena Authority to oversee the entire project, including design and construction of the new state-of-the-art, multi-purpose sports and entertainment arena. PC Sports will also coordinate the development of a flagship hotel and a unique restaurant on the site.
Within the coming months, the Authority plans to hire an architectural and engineering firm, with the design process beginning in Spring, 2007. Completion of the arena is scheduled for November, 2010.
For more information and project updates, log on to http://www.arenaauthority.com