LOUISVILLE, Ky. (AP) - A partnership between Omni Hotels & Resorts and the Cordish Co. is bringing a massive development to downtown Louisville.
The Courier-Journal (https://cjky.it/1jZOLko) reports the $261 million project includes a 600-room luxury hotel, a grocery store, retail stores and 200 apartments. The development will be built within three years on the Louisville Water Co. block in downtown, which the city owns.
The cost of the project will be split between the private companies, which will spend $135 million, and the city and state, which will spend $126 million.
Gov. Steve Beshear, Louisville Mayor Greg Fischer and officials with Cordish, which runs 4th Street Live, and Omni made the announcement Thursday in Louisville.
They said the project will create jobs and boost tourism.
“This project is a major infusion in our downtown and to the city’s entire economy,” Fischer said. “It will create jobs, both temporary construction positions and permanent jobs, and it will boost our convention and tourism industry as Omni provides a new level of luxury hotel.”
The city plans to take out bonds to provide funding for the development, which will be among the largest projects in the region under construction. Work is planned to start in 2015 and be completed by 2017.
“This investment will be a catalyst for more convention activity, while bringing more out-of-state visitors to Kentucky,” said Beshear.
Karen Williams, acting CEO of the Louisville Convention & Visitors Bureau, said the Omni would be “a game changer” as Louisville seeks to attract major trade shows.
Fischer said the deal has been in negotiations for more than a year. It is expected to create 1,350 construction jobs and 350 permanent ones.
Fischer said he is pleased that a grocery store is one component of the project.
“Citizens and visitors have told us for years that a grocery was the biggest missing component to downtown,” Fischer said.
Information from: The Courier-Journal, https://www.courier-journal.com
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