Historic Colonial Gardens in south Louisville on the market for nearly $5 million

LOUISVILLE, Ky. (WDRB) -- The historic Colonial Gardens, which is home to four restaurants in south Louisville, is for sale.

The landmark across from Iroquois Park dates back to the early 1900s when it was used as a dance hall and music performance space through the 1950s and 1960s. It fell into disrepair and was left vacant for decades.

The property was in danger of being demolished in 2008 when it was declared a Local Landmark. In 2017, Underhill Associates began a $5 million project to restore and renovate the building to include four restaurants and a patio area.

Since then, it has seen a lot of changes with tenants and restaurants come and go, especially after the pandemic. Colonial Gardens currently includes Hokkaido Ramen & Sushi Bar, Costa Del Sol Restaurant & Grill, The B.A. Colonial and Craft House Pizza, according to its website.

Developers said now is the time for new owners to come in and make the changes they would like to benefit those in the area as much as possible.

"Just like with Westport Village, that we did everything we knew to improve the property, to fill it up, to get the right tenants in there and then move out of the way for the next group that has some other things they can add to the mix," Jeff Underhill, property owner and developer, said, adding that he's already talking to a potential buyer.

A listing on the Kentucky Commercial Property Search showed the owners are asking $4,900,000 for the nearly 19,000-square-foot property.

Colonial Gardens is located at 818 West Kenwood Drive, off New Cut Road right across from Iroquois Park and the Amphitheater.

Even if a sale goes through, all of the current restaurants on the property have current leases, so they will still be open.

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