Follow the WDRB Newsroom, Reporters and Anchors.More >>
Tweets from the WDRB Newsroom, Reporters and Anchors.More >>
LOUISVILLE, KY (WDRB) -- A growing synergy created in part by the downtown arena and popularity of the NULU district has led to a steady demand for living space in downtown Louisville, according to those in the Louisville real estate market.
David Nichols with the Louisville Downtown Partnership say this year's Downtown Living Tour drew a record crowd of prospective buyers -- more than 450 people touring 9 downtown properties.
The newest of those - the Falls City Lofts - are still under construction in the original Bacon's Department Store on Market Street. Nichols says the demand has been steady.
"More young professionals want to live downtown and they need affordable housing that fits their budget," Nichols said. "There is available space but we are starting to see that it is filling up. For example, this unit here is already halfway sold."
The Falls City Lofts, include vaulted ceilings, exposed brick, and sections can be custom-made for your tastes.
"You definitely do pay for the location, but knowing what we are paying for we still would do it," said Jessica and Jonathan Hubbard, downtown renters who took the tour Sunday.
With Jonathan in grad school and Jessica working, they both admit they're not ready to buy yet. But they wanted to know what's available.
"It's nice to do things like this where you can do to different open houses where you can really see price comparisons," Jessica said.
Prices to buy condos can run as much as a home - from $200 to $400-thousand dollars and up. But some locations have units for rent.
"Cheapest you are looking at $700 to $600 a month. The average probably closer to $1200, $1300 for rentals," Nichols said.
Nichols says the growing synergy created by the KFC Yum Center and the Nulu district have helped create more of a draw to downtown.
"I have anxiety about leaving downtown -- it's a good place -- I don't want to leave," Jonathan Hubbard said.
The Hubbards admit living downtown comes with some sacrifice, like driving 10 to 15 minutes to buy groceries -- a small inconvenience they claim is worth the benefit of living downtown.