LOUISVILLE, Ky. (WDRB) -- There’s plenty to do on Bardstown Road, but Highlands resident Glen Barber believes there’s something still missing in the neighborhood.
"I called a realtor friend and said, 'hey, I've got a crazy idea. I want to build a hotel in the Highlands,'” said Barber.
The idea is now becoming the talk of the town.
"I was looking for a hotel for family to come in and stay and I couldn’t find one in the Highlands. I thought, my goodness, why not?" Barber shared.
He eventually purchased three properties on Bardstown Road near Windsor Place and he plans to convert them into Hotel Louie, a four-story, 52-room boutique hotel with garage parking and a rooftop restaurant and bar.
"I envision the guests at Hotel Louie wanting to be downtown during the day for business, but to be in an area like the Highlands in the evening," Barber explained.
He's now seeking investors for the $10 million project.
Thanks to revisions to the Securities Act of 1933, raising the money could be less of a challenge.
Earlier this year, the Securities and Exchange Commission made changes to Regulation A, increasing the amount companies can raise through crowd funding from $5 million to $50 million.
While many residents are excited about the idea, some push back could be unavoidable.
"The property is located in the Bardstown Road Overlay District and it backs up to the Cherokee Triangle. So we have to be mindful of those requirements and those sensitivity to the neighborhood. That will be a big challenge as well," Barber said.
Rental price will range from $199 to $329 for a bedroom suite. When asked whether or not he thought the price was too expensive, Barber said he believes it will be suitable for his prospective clientele.
It's a project that's still in its infancy but could be a game changer for the vibrant Louisville neighborhood.
"I understand that people would like things to stay as they are. But I envision this to be a really strong momentum builder for the Highlands," Barber said.
He hopes to have Hotel Louie open for business for Derby 2017.
Copyright 2015 by WDRB News. All rights reserved.