The City of Louisville and the Cordish Company have reached a tentative agreement on the Center City project, but construction may not begin for another year.
The agreement lays out plans for Cordish to lease downtown lands purchased by the city this year. The company will pay for infrastructure improvements and begin construction once the bond market rates become more favorable.
Cordish has come under fire in St. Louis for a two year delay on their ‘Ballpark Village’ project. Mayor Jerry Abramson says he trusts the company to make good on their offer based on the development of 4th Street Live.
“All I know is what they’ve done for Louisville, and what they’ve done for Louisville is taken what was a moribund galleria and turned it into an energy source that has a tremendous ripple effect throughout the community,” he says.
Abramson says he’s also heard good things about a Cordish development in Kansas City.