The city of Louisville may be getting a new sports entertainment district adjacent to Slugger Field, this was revealed by Louisville Mayor Craig Greenberg on Monday, Dec 2, 2024.
The proposed project is a public private partnership between Louisville Bats’ owner Diamond Baseball Holdings (DBH) and Machete Group which is an advisory firm that focuses on sports and entertainment real estate.
“I think the future of downtown Louisville is to build a neighborhood where people live, where people come to work every day, where people come to visit for various reasons – locals and tourists as well as those who come to the safest, cleanest, and the greenest neighborhood in the entire city,” Greenberg added. “That’s what we want downtown Louisville to be. ”
“This transformative project stands as the most substantial economic investment Louisville’s downtown core has witnessed in more than ten years,” Greenberg emphasized. He further highlighted that the proposed Sports Entertainment District represents a critical component of the city’s broader strategy to breathe new life into the urban landscape.
The Louisville Sport Entertainment District would have included a combination of residential, retail, hospitality and entertainment uses amounting to 500,000 square feet on what used to be a city-owned parking lot to the east of the baseball stadium, Louisville Mayor Craig Greenberg said during a news conference on Monday, Dec 2, 204.
Development is still in the “very early phase”
As of now, Greenberg said the proposed development is still in the “very early phase” and it is still unclear how much of the $250 million investment would come from the city. However, he said that the project would need incentives and may involve the establishment of a Tax Incentive Financing district.
The next step for making the development a reality comes Wednesday at a meeting of the Waterfront Development Board, where the partners will make the presentation of the proposal. The parking lot is inside the Waterfront Review Overlay District the mayor said and thus the project needs the board’s approval.
Metro spokesperson Caitlin Shearer said the board is not expected to hold a vote on the proposal Wednesday.
Plans for Louisville Sports Entertainment District
The plan consists of constructing two parking garages, Greenberg said, one for the Bats and the other for a 225-apartment building. Other features of the proposal are a 170 room boutique hotel, retail space, a renovated entrance to Slugger Field, office and meeting rooms.
If everything goes according to the plan, the developers could start construction of the project within the next year.
“This will be a game-changer for the Bats, for the stadium, for Downtown Louisville, for Louisville and for Kentucky in general, to continue this positive trend and to enhance this connection between NuLu and Downtown, between Downtown and Butchertown, and to start integrating this stadium with [Lynn Family Stadium] as one big entertainment zone,” Greenberg said.
The proposed project would also help with two things which city leaders have identified as important in the recent years: the lack of Downtown housing and the abundance of surface parking in Downtown.
“This project will not be possible without the city’s support, without the state’s support in the form of various incentives which we are just now discussing,” Greenberg said. “If such incentives are not provided, then we will have to think of another way which we do not want to, but I am hopeful we will get there.”
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Louisville Sports Entertainment District Project Factsheet
Project Overview
Location: Adjacent to Slugger Field, Downtown Louisville
Type: Sports and Entertainment District Development
Investment: Approximately $250 million
Developers:
Diamond Baseball Holdings (Louisville Bats’ owner)
Machete Group (Sports and Entertainment Real Estate Advisory Firm)
Public Sector: City of Louisville
Project Components
Total Development Area: 500,000 square feet
Proposed Developments:
225-apartment residential building
170-room boutique hotel
Retail spaces
Two parking garages
Office and meeting rooms
Renovated Slugger Field entrance
What are Project Goals for the Louisville Sports Entertainment District
Revitalize downtown Louisville
Create a mixed-use neighborhood
Address housing shortage in Downtown
Reduce surface parking areas
Connect NuLu, Downtown, and Butchertown neighborhoods
Project Status
Current Phase: Early planning stage
Next Step: Presentation to Waterfront Development Board
Potential Construction Start: Within the next year
Financing
Total Investment: $250 million
Funding Source: Public-private partnership
Potential Financing Mechanism: Tax Incentive Financing district
Additional Funding: Pending city and state incentives
Read also: Phase II of Olathe Gateway Project: All-Abilities Theme Park and Entertainment District Planned
Louisville Sports Entertainment District Project Significance
Largest downtown investment in over a decade
Aims to create a “safest, cleanest, and greenest neighborhood”
Integrates entertainment zones
Potential economic development catalyst
Additional Notes
Project contingent on securing necessary incentives and approvals
Waterfront Development Board review upcoming
Date of Announcement: Monday, December 2, 2024
Read also: Raleigh Sports and Entertainment District Development Plan
