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LOUISVILLE, Ky. (WDRB) --There was a big announcement today for a new downtown medical research park.
A well established Louisville company will be the main tenant of a new medical office building.
U of L is attempting to turn the old Haymarket property in downtown Louisville into a medical research park with the opening of an eight story building.
The Nucleus building is 97 percent occupied.
That's because Atria Senior Living, which operates 121 facilities in 27 states will move its corporate headquarters from the Brown and Williamson Tower on Fourth Street in downtown Louisville to the now opened Nucleus Building.
Atria will occupy almost half of the new building.
"We are a national company that chooses Louisville as a place to operate," says Atria CEO John Moore.
But the move to Nucleus creates another vacancy in a downtown office building.
Some commercial real estate interests have expressed concern about what they feel are high vacancy rates in some downtown office towers.
But the mayor is not worried.
"You know its not an either or situation, the market goes back and forth, and the towers will fill up again so they will be fine," says Mayor Greg Fischer.
The $20 million Nucleus building was designed to attract to Louisville innovative research driven companies.
So WDRB News asked if getting Atria to move into Nucleus meets that goal.
"What you are going to find is that you have a mix of medical businesses move into such a building, headquarters, as well as start-ups, to make a successful complex," says the CEO of Nucleus, Vickie Yates Brown.
The U of L Foundation put up the money for the building.
Bond payments will be made with the money generated from the tenants.
Long range plans call for additional buildings to be constructed but that remains further into the future.
Other tenants in the Nucleus include Advanced Cancer Therapeutics, XLerateHealth, the University of Louisville Institute for Optimal Aging, University of Louisville Physicians, andUniversity of Louisville Office of the Executive Vice President for Research and Innovation.