LOUISVILLE, Ky. (WDRB) — Downtown Louisville’s economy is showing signs of strength, but city leaders said more housing, tourism and development are still needed for long-term growth.
Nearly 600 business owners and community leaders gathered Tuesday for the annual economic impact report from the Louisville Downtown Partnership, where leaders discussed what is working downtown and what still needs improvement.
"Downtown is the heart and soul of our community, and I am proud the state of our downtown is strong," Mayor Craig Greenberg said in a news release.
Michelle Bragg, who owns Locals Louisville, a small pizzeria and market downtown, said her business has been successful since opening about a year and a half ago, but she believes downtown needs more residents to support businesses consistently.
"We do get some business, but it depends solely on where they’re located and where they’re walking to," Bragg said.
According to the report, downtown saw an increase in workers over the past year, but tourism and hotel bookings declined. Despite that, several major development projects were announced, including two new hotels, the planned redevelopment of the Humana Building and the Brown & Williamson Building.
A $250 million residential and entertainment district near Slugger Field is also planned, and Weyland Ventures is converting the former Fiscal Court Building into a $28 million apartment project.
City leaders said increasing the number of people living downtown remains a top priority for the next decade.
Urban planner Jeff Speck, who was hired in 2024 to help develop a long-term walkability plan for the city, also spoke at the event. He said successful walkable cities must be useful, safe, comfortable and interesting at the same time.
"The completed investment in our downtown increased to $355 million across 20 projects," said Rebecca Fleischaker, executive director of Louisville Downtown Partnership. "That is up from $75 million in 2024."
Leaders also said Louisville faces challenges compared to nearby cities like Cincinnati and Indianapolis, particularly because of the number of one-way streets downtown, which can slow development.
The city has already converted several streets to two-way traffic and plans to convert more.
Another major focus moving forward will be redeveloping empty surface parking lots around downtown that city leaders say could be used for future development.
The full economic impact report can be viewed below:
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