New work space for entrepreneurs to open at Fourth Street Live!
Spark Louisville will be a departure from the venue's entertainment mission.
LOUISVILLE, Ky. (WDRB) -- Something new is coming to Louisville's Fourth Street Live! entertainment district.
For the first time since it opened in 2004, the developer, the Cordish Companies, plans to use the space for something other than restaurants and bars.
The new development, Spark Louisville, will be a 20,000-square-foot work space for entrepreneurs. It will open in a space now occupied by two nightclubs, the Marquee Bar and Tengo Sed Cantina. They will close when their leases expire at the end of May.
Fourth Street Live! Marketing Director Ashley Satterfield said Spark Louisville will give entrepreneurs an affordable place to grow their businesses.
“It provides them opportunities to rent out spaces on a month to month basis,” Satterfield said.
Cordish opened a similar venue in Baltimore a year ago, allowing innovators to rent everything from desks to small offices. There are conference rooms, event spaces and more.
“There is also a kitchen, a shared kitchen," Satterfield said. "It will have craft beer area and a gourmet coffee bar as well."
Spark Louisville is a departure from the accustomed Fourth Street Live! entertainment mission, but Louisville Mayor Greg Fischer said that is no problem.
“They're always changing their product mix to what's best for the market," he said. "So if you put a couple of hundred young entrepreneurs, growing businesses, right in the middle of your entertainment district, you see how that helps not just the restaurants and bars down here."
Cordish said it does not know yet how many businesses Spark Louisville will hold or how much it will charge.
The company said the original in Baltimore has grown from 20 businesses a year ago to more than 90 now.
“We hope that it will continue to increase more jobs for the community, increase more businesses and continue to give back to the city of Louisville,” Satterfield said.
Spark Louisville is scheduled to open in 2018.
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