Metro Council set to make decision on rezoning One Park North

LOUISVILLE, Ky. (WDRB) -- An empty concrete field, closed-down gas station, and small businesses could soon be transformed into One Park.

The project at the corner of Lexington Road and Grinstead contains towers with apartments, offices and retail.

The original One Park plan was approved for rezoning in 2019. Now, developer Kevin Cogan and his firm, are hoping for final approval on One Park North, which is on the other side of Lexington Road.

At last week's committee meeting, Metro Council President Markus Winkler said this project will help promote workforce development.

"These are the type of buildings that they want to live, work and play in," Winkler (D-17) said.

Winkler supports the plan from Jefferson Development Group, along with councilmembers on both sides of the aisle.

One Park would be home to hundreds, and about a mile from an Irish Hill neighborhood staple, Spring Street Bar and Grill. Bar co-owner Ben West says he would be happy to welcome new neighbors.

"Yeah, I wouldn't be upset about that either," West said.

The longtime bar reopened four months ago after a renovation.

"Leave your problems at the door, take a load off, enjoy yourself," West said. "Everybody's got a specific Spring Street story."

A transformation is coming outside the bar. The old Distillery Commons rickhouse lot sits empty waiting for development, but that project pales in comparison to One Park.

"If it helps the neighborhood, then so be it. I just hope there's room for local options to have an opportunity to get in there, instead of just big businesses getting in there," bar co-owner Roger Romines said.

At December's Planning Commission meeting, other neighbors said they are not on board due to traffic concerns, how it would take away from Cherokee Park's beauty, and how the project could be funded.

In October 2022, WDRB News exclusively reported that Cogan's firm was pursuing a tax-increment financing plan.

Cogan defended the plan at the Planning Commission meeting.

"Because (of) the density and the requirement of structured parking and concrete structures, it's a lot more expensive than going out to a green field and building a free-standing stick building," Cogan, the group's CEO, said. "The other thing is that the TIF is based on its merit, so that as you produce tax revenue forward, you get to share some of that. So, it's not like the city or state is writing a check, it's performance-based. So, if you perform and you generate the development, and it generates taxes, you get a share in some of those taxes back toward off-setting some of that infrastructure."

Thursday's Metro Council meeting is not about that TIF. It only focuses on rezoning the property.

Last week, Winkler, who supports the proposed tax-increment financing district, told WDRB News that ordinance related to the subsidy is likely to be introduced in the next six weeks or so.