Thursday March 11, 2010
The construction of two new downtown parking garages are a small but positive sign that Louisville’s economy is turning a corner, Mayor Jerry Abramson said today as he broke ground on the projects — a $15 million investment that will create hundreds of construction jobs.
The garages — at 4th and Chestnut and 9th and Market streets — are being built to complement and to help spur new investments downtown, including a new hotel and condo development and the new corporate headquarters for ZirMed, a fast-growing health care company.
“Although it will take years for the nation to recover from the recession, Louisville is moving ahead and planning for the future,” Abramson said. “These two new garages will not only add parking to our downtown, they are helping spur additional investments that will add to downtown’s vibrancy.”
The 4th and Chestnut garage will complement a development called Clay Commons that includes new downtown condos, retail space and a hotel being developed by City Properties.
The 9th and Market garage will largely serve ZirMed, a fast-growing high-tech medical company whose new downtown corporate headquarters was designed and built by City Properties, headed by Bill Weyland.
“Attractive and modern parking garages, such as the ones we are breaking ground for today, are key to the continued growth and connectivity of our downtown. By developing surface lots into parking structures, we free up land for commercial, retail and residential development.” said Councilman David Tandy, who represents downtown. “Once again, we are proud to partner with Bill Weyland and his team at City Properties Group, to continue making Louisville into the world class city we know it can be.”
The Clay Commons garage, at 615 S. 4th St, will be seven levels, contain 330 spaces and cost $7 million. The Glasswork garage will have seven levels, 427 parking spaces and cost $8 million. Both will be completed in November.
The garages are being built by City Properties. The Parking Authority of River City will purchase the structures when they are completed.