Developer given until mid-2025 to decide on Louisville Gardens plan

LOUISVILLE, Ky. (WDRB) – The city’s plan to turn Louisville Gardens into entertainment soundstages needs more time.

Metro government and developer River City Entertainment Group LLC agreed last month to extend the deadline for a formal deal until July 31, 2025. That’s more than two years after the original deadline for reaching a development agreement and a year later than the expected start of construction.

An updated letter of intent signed by Mayor Craig Greenberg on July 18 says “significant progress has been made towards reaching a development agreement,” but that additional time is needed to “finalize the document.”

The progress includes city-led environmental cleanup inside the building at Sixth Street and Muhammad Ali Boulevard and the developer getting construction estimates and identifying local partners, said Caitlin Bowling, spokeswoman for Metro’s Cabinet for Economic Development.

Randy Kendrick, CEO of Dallas-based real estate investment company Xebec, signed the July letter of intent for River City Entertainment Group. He did not immediately respond to questions submitted Tuesday through Xebec’s public relations firm.

The environmental work was completed in March, according to documents provided by Metro government that show thousands of bags of carpet, wood, floor and ceiling tiles and other materials being removed from the building.

Former Mayor Greg Fischer announced the Gardens proposal in the waning days of his final term in December 2022. Plans at the time called for four soundstages for film, television, social media and other production work across 40,000 square feet.

Also included in the initial plans were a small theater, office and retail space, and a museum. Crews would renovate the building’s exterior and erect two eagle statues overlooking Ali.

Nearby state-owned property — between 6th and 7th streets, and Ali and Cedar Street — would be turned into a training facility for entertainment industry jobs.

Scott Hodgkins of River City Entertainment Group indicated during the 2022 announcement that construction could start as early as 2024. Jeff O’Brien, and executive director of the city’s economic development cabinet, affirmed that timeline in remarks to Metro Council in 2023.

Metro government would lease the Gardens for $1 per year in rent over a 10-year period, according to an initial letter of intent between the city and the development group.

The Kentucky Economic Development Finance Authority gave preliminary approval in December 2022 for $700,000 in wage incentives over the 10-year term of the agreement. River City Entertainment Group would create 50 jobs at an average hourly wage of $58, which includes benefits.

The incentives haven’t received final approval.

Louisville Gardens opened in 1905 as the Jefferson County Armory and until it closed in 2006 hosted concerts, sports events, graduations and other gatherings.

It was a required piece of Fourth Street Live! Developer Cordish Cos.’ Center City project, which considered a minor league hockey venue there before the Gardens work became an optional part of the downtown redevelopment.

The city sought new proposals for the building in 2014 and later negotiated with Louisville developer Underhill Associates on a project to include apartments and retail, but those talks ultimately were unsuccessful.