Members of Preservation Louisville are reviewing the settlement over the Iron Quarter buildings and will release a statement today.
Louisville Metro Government and developer Todd Blue reached an agreement over the future of the historic but dilapidated buildings along east Main Street yesterday.
Blue wanted to destroy the buildings at First and Main to make room for a hotel and restaurant development. Metro Government officials wanted to preserve at least part of the buildings.
On Monday, Blue agreed to drop his lawsuit against the city over the matter in exchange for help preserving the facades.
The agreement gives Blue permission to demolish the buildings in 90 days. During that time, Blue and city officials will research the best method of either preserving the existing facades or building replicas of them.
Preservation Louisville supports saving the buildings in their entirety, not just the facades.