Developer submits plan for 68 apartments in Grocers Ice building downtown
Kentucky state government has yet to formally approve the sale more than 2 ½ months after opening bids on three properties purchased as part of the Ohio River Bridges Project. But lawyers at the Finance and Administration Cabinet are expected to do a final review as early as next week.
LOUISVILLE, Ky. (WDRB) – The developer seeking to renovate a vacant cold storage building near Louisville Slugger Field envisions 68 apartments, on-site parking and additional spaces under nearby Interstate 65.
The Denton Floyd Real Estate Group doesn’t plan any new construction at the former Grocers Ice and Cold Storage Co. building, according to preliminary documents filed with Louisville metro government earlier this month.
But it is proposing façade changes to the early 1900s-era structure that would trigger a review by a Butchertown neighborhood committee. Plans also call for an interior courtyard.
The building in the 600 block of East Main Street failed to fetch a buyer during two previous auctions. Then, in October, Denton Floyd offered a high bid of $400,000 at an auction overseen by the Kentucky Transportation Cabinet.
“We are very excited about converting this property that is one of the last remaining blights on this particular stretch of Main St.,” Brandon Denton, a company co-founder, said in a text message.
He said his firm took a risk by bidding on property that had not sold in the past. “We really believe in our vision for this property and the positive ripple effect it will have in the area after we are finished with it.”
Denton Floyd hopes to begin construction in early 2018.
Kentucky state government has yet to formally approve the sale more than 2 ½ months after opening bids on three properties purchased as part of the Ohio River Bridges Project. But after weeks of inaction, lawyers at the Finance and Administration Cabinet are expected to do a final review as early as next week.
During public bid openings October 10-12, the transportation cabinet accepted tentative offers of $400,000 for the Grocers Ice building; $400,001 for the Rosewell property in eastern Jefferson County; and $1.625 million for the Drumanard estate near Prospect.
The state bought the properties for $13.5 million. The cabinet is withholding appraisals of the properties until deeds are finalized, according to its response to a public records request by WDRB News.
William M. Landrum III, secretary of the Kentucky Finance and Administration Cabinet, will make the final decision on the prospective sales. Finance cabinet spokeswoman Pamela Trautner said Wednesday that her agency has received the “necessary information” about the properties from the transportation cabinet.
“Our legal team will do a final review, most likely next week, prior to sending it to Sec. Landrum for his final review to accept or not accept,” she said in an email. “As you can imagine, from a timing perspective, the holidays have impacted this last review.”