Thursday December 20, 2012
By next spring, downtown Louisville will welcome six new retail businesses to South Fourth Street between the Seelbach and Brown Hotels.
The openings support findings made by a retail market study commissioned last year by the Louisville Downtown Development Corporation (LDDC), stating that downtown Louisville can support considerable additional retail, as it currently captures only 52% of its retail sales potential.
The mix of retail offerings offered by these new businesses aligns with recommendations made by a merchandising plan for South Fourth Street that was commissioned by LDDC and completed in October, 2011. The new businesses are:
Art Eatables – a small-batch bourbon truffle shop.
Block Party Handmade Boutique – a collaborative retail, studio, and workshop for artists.
Celebrations – a custom invitation and gift shop.
The Leading Man – a men’s clothing and accessories shop.
Les Filles Louisville – an artisan jewelry and accessories shop.
Regalo – a gift, one-of-a-kind jewelry, and accessories shop.
“We invested in this key corridor in our current budget because we knew the potential was there,” Mayor Greg Fischer said. “The common thread with these new stores is that they’re uniquely Louisville -- local owners with interesting concepts that help Keep Louisville Weird, and we need to thank these entrepreneurs for stepping up.”
A true public-private partnership, the retail development occurring on South Fourth Street will benefit from entrepreneurs investing in their retail businesses, as well as a $500,000 investment by Louisville Metro Government to improve the sidewalks and lighting on Fourth Street. The streetscape improvement work will begin in January and be finished in time for the new store openings in spring of 2013.
About the Louisville Downtown Development Corporation:
The Louisville Downtown Development Corporation (LDDC) is a private, non-profit 501 © (3) organization dedicated to the long term economic health of Downtown Louisville and represents the community’s civic and business leadership. For the past 22 years, the LDDC has played a crucial role in bringing together both the public and private sectors as partners in Downtown Louisville’s redevelopment and long term planning, with LDDC serving as the lead entity in the development and implementation of the 2002 Downtown Master Plan. As the economic development catalyst for Downtown Louisville, the LDDC is the only organization dedicated to the economic growth and development of Downtown – the Metro’s growth engine, in addition to its activities involving strategic planning and project management. The LDDC is managed by a 38-member Board of Directors, which is currently chaired by James Allen of Hilliard Lyons. For more information, visit www.downtowndev.org.