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Old Posted Dec 13, 2005, 5:40 AM
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LOUISVILLE | Development Thread

This thread will list development in the Louisville/S Indiana Metro area, which is currently seeing a huge boom although it is rarely mentioned on these threads. The one person who mentions Louisville, Jeff-In-Dayton, seems to have his view of the city stuck in its stagnant days of the 1970's when he lived there briefly. Also, I think it is fair to say that Louisville is simply in a class above Dayton, who he often mentions it with. Dayton is a great city with similarities, but it is much smalller with almost 400,000 less residents in its metro. As you can see, Louisville is more similar to places like Memphis and Jacksonville.

2004 MSA estimates (U.S. Census)

30 San Jose-Sunnyvale-Santa Clara, CA 1741431
31 Columbus, OH 1693906
32 Las Vegas-Paradise, NV 1650671
33 Virginia Beach-Norfolk-Newport News, VA-NC 1644250
34 Providence-New Bedford-Fall River, RI-MA 1628808
35 Indianapolis, IN 1621613
36 Milwaukee-Waukesha-West Allis, WI 1515738
37 Charlotte-Gastonia-Concord, NC-SC 1474734
38 Austin-Round Rock, TX 1412271
39 Nashville-Davidson--Murfreesboro, TN 1395879
40 New Orleans-Metairie-Kenner, LA 1319589
41 Memphis, TN-MS-AR 1250293
42 Jacksonville, FL 1225381
43 Louisville, KY-IN 1200847
44 Hartford-West Hartford-East Hartford, CT 1184564
45 Buffalo-Cheektowaga-Tonawanda, NY 1154378
46 Richmond, VA 1154317
47 Oklahoma City, OK 1144327
48 Birmingham-Hoover, AL 1082193
49 Rochester, NY 1041499
50 Salt Lake City, UT 1018826
51 Raleigh-Cary, NC 914680
52 Tucson, AZ 907059
53 Bridgeport-Stamford-Norwalk, CT 903291
54 Honolulu, HI 899593
55 Tulsa, OK 881815
56 Fresno, CA 866772
57 New Haven-Milford, CT 845694
58 Dayton, OH 845646
59 Albany-Schenectady-Troy, NY 845269
60 Omaha-Council Bluffs, NE-IA 803801
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  #2  
Old Posted Dec 13, 2005, 5:42 AM
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There is so much going on here I cannot list it all, but here is an interesting tower in the planning stages. The tower is supposed to be 26-40 stories, depending on demand for more condos, which are now abounding downtwon:

www.museumplaza.net

Building blocks: Developers make East Main and Market streets a hotbed of activity
Travis K. Kircher
Business First Correspondent
The Hub ...
In two words, this development sums up the spirit of projects happening in the East Main and Market district.


A number of developments have hit downtown recently. But earlier projects, including Louisville Slugger Field, Preston Pointe and Waterfront Park, began the domino effect that now is rippling along the East Main and Market corridors. And developers say that while the general increase of traffic is a factor -- the stronger interest from young people has been a palpable fuel for new residential and commercial spaces.

When Todd Blue, chairman and CEO of Cobalt Ventures LLC, decided to build The Hub as an apartment complex at the corner of Floyd and Main streets, he said he had not realized there was such a heightened demand for condominiums in this part of the city.

Public interest in The Mercantile Gallery Lofts, a separate condominium project Blue is involved in changed everything. "We have no decided, due to the overwhelming demand for the other condominiums we have put under development, to make The Hub a condominium development rather than an apartment development," Blue said.

The Hub will offer single-story high-end condominiums priced between $500,000 and $600,000. The building might have four or five levels. The project, which still is in the planning stages, is expected to have about 85,000 square feet. Blue said construction is expected to begin at the end of 2006 (after The Mercantile Gallery Lofts open) and the targeted completion date will be toward the end of 2007. The cost of the project still is undetermined.

It might sound like a gamble, but Blue said the project is a sure bet because young people are flocking back to downtown Louisville. "People are kind of fed up with suburban sprawl and are wanting more connectivity to other people," he explained. "I don't think Starbucks sells coffee. I think Starbucks sells connectivity to other people. I think when you go into Starbucks and you bump into people, it's a virtual town center."

He said this desire to reconnect is what's driving people downtown. "People are tired of getting on the expressways and sitting in their car for an hour. I think people are looking to have simpler lives."

Fleur-de-lis Condominiums
If Henry Potter, founder and president of Potter & Associates Architects PLLC, believes anything, it's that young professionals are flocking to downtown Louisville. "Downtown Louisville has changed," Potter said, citing hot spots such as Louisville Slugger Field and Waterfront Park. "There's just so much more to do."

That's why he decided to create Fleur-de-lis Condominiums, a 200,000-square-foot condominium project that will place 84 families and three retailers in the heart of the East Business District in the 300 block of East Main Street. The $22.5 million project will include a 150-car parking garage and two large courtyards. Most of the condo entrances will face inward to the courtyard areas, he said. The five-story structure will have one-story and some two-story condos.

Potter said the units, which will cost anywhere from $200,000 to $360,000, will have glass bays that cantilever out over the street. Features include 10-foot ceilings, fireplaces and large exterior balconies. Some balconies will face the street and others will face interior courtyards, with flower gardens and elaborate fountains.

Potter expects to sign a restaurant and a couple of other retailers to take up the 18,000 square feet of commercial space included in the project. As for the residential units, Potter said he's having no trouble finding candidates eager to sign up. "Greater Louisville Inc. sponsored their downtown housing tour, which they do every year, and they had almost 600 people that came through just to look and see what's available downtown," he said. "We got 35 responses just on our project alone." The project is expected to be completed by next October.

The Mercantile Gallery Lofts
Another condominium project in this area is relying on the power of partnerships to come to fruition. Partners Todd Blue, Jim Walters and Rowland Miller have created CobaltBravura City Lofts LLC to oversee the development of The Mercantile Gallery Lofts condominium club and community at 301 E. Market St.

The $10 million, five-story project will include 47 single-story condominiums, ranging in size from 700 square feet to 1,500 square feet. In addition to the residential units, the project will include a theater, a game room, a workout facility, a parking garage and a separate bike garage.

Additionally, Blue said, each of the residential units will have unique features. "All of our units are individual and customized. Every single one has something different than the other, whether it's a different view, a different shape or a different size." He added that each unit will contain high-end materials and appliances, including granite countertops, stainless steel appliances, Hansgrohe faucets and stained concrete floors.

To create the lofts, Blue said he is rehabilitating four buildings that once were part of the old Brinly Hardy warehouse property. The project should be completed by June. Units cost between $179,000 and $397,000, if they are purchased before construction. Prices will go up after the project is completed.

Blue said the new developments along East Main and Market streets are not the result of actions the city has taken, but instead spring from the natural ebb and flow of supply and demand. "The successful developments are being driven by the private sector, and any successful community will always be driven by the private sector," he said. "Younger people are craving this kind of choice."

Residence Inn by Louisville Marriott Downtown
Complete with a parking garage and an indoor pool, the $15 million Marriott hotel will provide 140 rooms, priced between $89 and $169 per night. Located relatively close to the downtown medical district, at 333 E. Market St., the hotel is expected to open Dec. 15.

The project is the result of a partnership between Louisville-based Icon Properties; Maryville, Ind.-based White Lodging; and Indianapolis-based Real Estate Investments Inc. and White Lodging Services Corp. Steve Poe, a partner in Icon and president of Poe Investments LLC, said the decision to locate in downtown Louisville was a no-brainer. "We like downtown Louisville," he said. "We like the East Main corridor. It's near the hospitals, it's near downtown, it's near the convention center, and it's near Waterfront Park."

"I think a lot of years of public and private investments, starting with Waterfront Park and moving on to Slugger Field, have slowly started to change peoples' attitudes towards downtown. Downtown is becoming a destination for people to go for entertainment."

Park Place Lofts
Developed by LHD East Main LLC, the 50,000-square-foot Park Place Lofts condominium project is located at 400 E. Main St. and provides housing for 22 families plus 10 retail outlets. Larry Leis, a partner on the project and a partner with Louis & Henry Group architectural firm, said the $3.6 million condo project -- recently completed -- was built from the ground up and was designed to blend into the existing East Main Street architecture.

Exterior features include brick masonry, large openings and a contemporary industrial look. Stained concrete floors grace the inside of the building. Each of the residential units features ceiling heights of between 9 and 20 feet, as well as a large atrium space that can be seen from the master bedroom. He said the units are priced from $135,000 to $300,000.

Leis said the city of Louisville chose his partnership, which includes Rick Kremer, also a partner in Louis & Henry, from a group of several prospective developers to rehabilitate the property. The site had been part of the former Brinly Hardy property that was bought by the city when Louisville Slugger Field was constructed.

Leis said the ballpark was a catalyst for the newer developments in the area. But like other developers, he believes young professionals are naturally migrating back to cities. "People feel like they don't like that maintenance that the suburbs require of a person," he said. "They like the action. They want to be in the middle of things." This particular site is within two blocks of Waterfront Park. Residents "can walk down to the art center, the hotels or the convention center. It's a big attraction for young professionals."

Travis K. Kircher is a free-lance writer for Business First. Send comments on this article to rray@bizjournals.com.
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  #3  
Old Posted Dec 13, 2005, 7:56 AM
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Sounds like some neat stuff going on.

But you might want to add some renderings if you can, that'll make the thread get more attention.
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Old Posted Dec 15, 2005, 12:14 AM
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Im not sure how to post renderings?
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Old Posted Jan 17, 2006, 1:29 PM
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U of L assured on arena
School's interests will be protected, leaders told

By Sheldon S. Shafer
sshafer@courier-journal.com
The Courier-Journal



University of Louisville officials received strong assurances yesterday that the school's financial interest will be protected if a $349 million arena is built downtown.

The arena will not hurt either U of L's income from sports or its general fund, Jim Host, chairman of the new Louisville Arena Authority, told U of L trustees and the U of L Athletic Association's board during a joint meeting.



He pledged that the arena will produce enough income from taxes, commercial leases, the sale of club seats and corporate boxes, and other sources to cover the bond debt.

In response to questions from U of L officials, Host said he was confident the arena won't compete with U of L's request for legislative funding because the arena will pay for itself

Nor will U of L "play second fiddle" to any other user, Host said.

In an interview before the meeting, he said he had recently received calls from representatives of two National Basketball Association franchises, which he declined to identify, expressing interest in making the new Louisville arena their home. He said he stressed to them that U of L will always have priority in scheduling games.

And he promised that U of L will have final approval of what the arena is called, to be determined by the sale of naming rights.

Afterward, U of L President James Ramsey said, "We heard very strong commitments … and I couldn't imagine" not agreeing to the arena deal. But the school's trustees have a responsibility to protect U of L's financial interest, he added.

U of L's basketball income is about $15 million a year, athletics spokesman Kenny Klein said. U of L officials said that comes primarily from tickets, along with a share of Freedom Hall parking and concessions, and that it pays for all of the school's other sports except football.

Ramsey told Host and school officials that U of L wants to ensure that the arena will not be built at the expense of funding for U of L's academic programs. Although the basketball program is very important, he said, "Education is the real key to economic growth and prosperity."

Host said he expects to negotiate a memorandum of understanding with U of L covering the school's rights and obligations, including money matters, related to the arena.

He said he also expects a similar agreement with the Kentucky State Fair Board, which will run the facility.

Both should be negotiated in a month or so, he said.

Host said four construction companies have expressed interest in building the arena.

The project could be put up for bids later this year, with the earliest opening date in the fall of 2009, he said.


Last edited by sdfoma; Jan 17, 2006 at 1:43 PM.
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  #6  
Old Posted Jan 18, 2006, 12:13 AM
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Dayton is a great city with similarities, but it is much smalller with almost 400,000 less residents in its metro. As you can see, Louisville is more similar to places like Memphis and Jacksonville.

Ahem.

CSA

41 Louisville-Elizabethtown-Scottsburg, KY-IN CSA 1,323,199
42 Grand Rapids-Muskegon-Holland, MI CSA 1,294,847
52 Dayton-Springfield-Greenville, OH CSA 1,081,946

Looks like less than 300,000 to me.

But let's do urbanized statistics.

Louisville, KY--IN 863,582
Dayton, OH 703,444

Less than 160k difference.

Regardless, it was pointless and insecure to bring up an SSC arguement to begin with especially talking about Jeff-in-Dayton, knowing damn well he's not going to read this. Really "classy" but hey, not surprised.

Back to Louisville's projects.
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Old Posted Jan 18, 2006, 12:19 AM
Jeff_in_Dayton Jeff_in_Dayton is offline
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The one person who mentions Louisville, Jeff-In-Dayton, seems to have his view of the city stuck in its stagnant days of the 1970's when he lived there briefly.
What is this about? I lived there briefly?

I lived there for 14 years and return many times a year to visit.

I also don't recall saying much, if anything, negative about Louisville at all.

Who is this jerk?
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Old Posted Jan 18, 2006, 1:15 AM
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Originally Posted by Jeff_in_Dayton

Who is this jerk?
It's gych from SSC.
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Old Posted Jan 18, 2006, 12:27 AM
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...and the 1970s was hardly stagnant as this was when a lot of the foundations for current growth in Louisville started up..this was the decade of a big-back-to-the city movement that led to the revival many older neighborhoods, as well as the start of downtown revival.
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Old Posted Jan 18, 2006, 1:37 AM
Jeff_in_Dayton Jeff_in_Dayton is offline
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^
LOL....really!....

The funny thing is that I'm probably as much a Louisville fan as he is.
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Old Posted Feb 15, 2007, 11:29 PM
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A few pictures I found of the Museum Plaza and other Louisville developments to put on here.
http://www.envizionary.com/wp-content/museum_plaza.jpg

http://a5.vox.com/6a00c2251ddf0e8e1d...110d549d-500pi
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Old Posted Feb 15, 2007, 11:34 PM
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Louisville's new downtown arena is already ready to go! Here are some pics of what it might look like. 22-23K seats and its primary tenant will be the Louisville Cardinal's men's and women's basketball teams. Hopefully, it will lure an NBA or NHL team in the future?!



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Old Posted Mar 24, 2007, 8:59 PM
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Originally Posted by bw87a View Post
is that tower on the right really going to get built? it makes me gag
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Old Posted Mar 27, 2007, 12:28 AM
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it is going to be built. construction starts later this year and is said to be finished by around 2009 or 2010. and i really love it. it is a sterling example of form=function. it is a building that will house the largest contemporary art museum in louisville. it will also house the master's program of art from the university of louisville. so in other words, it's an architecturally defying building for a building built for art.
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Old Posted Jan 30, 2008, 7:17 PM
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Some pretty cool projects going in Louisville.
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Old Posted Apr 23, 2008, 12:32 AM
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Condo tower proposed for Cherokee Triangle

It would be the second-tallest building in Highlands

By Alex Davis
alexdavis@courier-journal.com

A 17-story condominium tower would be added to the skyline of the Cherokee Triangle at Willow and Baringer avenues under a plan by developer Kevin Cogan.

The tower, called Willow Grande, would require the demolition of the Bordeaux Apartments, a 22-unit complex built in 1965 that Cogan's company, Jefferson Development Group, bought in October 2006 for $2 million.

Plans for the tower were submitted last week to Louisville metro government. Prices for the condominiums will range from $750,000 to $1.7 million.

Willow Grande would be the second-tallest building in the Highlands after 1400 Willow, which has 20 floors and sits two blocks away. A zoning change and an architectural review must take place before the tower can be built.

Cogan said yesterday that he expects the approval process to take about six months. His company will meet with neighbors and Bordeaux tenants in the next two to three weeks, he said.

Cogan said he envisions many buyers coming from Louisville suburbs: "They want to come in. Downtown might be a little too much of a jump into the pond. The Highlands is a good halfway" point.

After living at the Bordeaux for the last two years, 87-year-old Nicole Thomas said she wouldn't be surprised if the property was torn down. Lights are rarely fixed, she said, some windows aren't cleaned, and leaves and mud are piled up near the garage.

"It upsets me, because I don't like to move," said Thomas, whose rent is $790 a month.

Cogan said Jefferson Development Group will offer Bordeaux tenants places to live in its other Highlands rental properties.

Since the company bought the building, he said, the air-conditioning units and the much of the roof have been replaced. Most of the tenants are on month-to-month leases but the 18-month construction process won't start until early next year, Cogan said.

The first step in the approval process for Willow Grande could come as soon as late May, in a meeting of the neighborhood's architectural review committee, which is part of the Metro Landmarks Commission.

Process not quick

Dave Marchal, the city's urban design supervisor and the lead staff member for the Landmarks Commission, said all of the necessary approvals would probably take until late this year. The zoning change, to accommodate more density, must be approved by the city's Planning Commission and the Metro Council.

Willow Grande is being designed by Joseph & Joseph Architects. Merrill Moter, a principal with the firm, said the building will have a brick exterior, and be similar to The Dartmouth, which is across Baringer Avenue and has 11 stories. Sketches of Willow Grande submitted to metro government show two dozen condos ranging in size from 2,400 to more than 4,000 square feet.

The developers also would move a 3,000-square-foot brick home at 1426 Willow Ave. to the rear of the property to make way for the tower. Cogan's company bought the home a year ago for $525,000.

Jefferson Development also built the nearby Park Grande luxury condominiums, and the company has been trying unsuccessfully to build a condo project at the Aquarius Apartments at 1051 Cherokee Road.

John Downard, president of the Cherokee Triangle Association, said he was reserving judgment on Willow Grande, but he predicted it might have a better chance than the Aquarius condos because the new site is surrounded by taller buildings, and it sits on a corner.

A looming 17-story tower might take away the afternoon sun for some neighbors, said Jim Beckett, a retired attorney who has lived with his wife Patricia at 1430 Willow Ave. since 1977. But he said the project also could raise property values.

"I have mixed emotions about it," Beckett said. "If they end up with 17 stories, it would be a little off putting."

Reporter Alex Davis can be reached at (502) 582-4644.
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Old Posted Feb 16, 2007, 4:11 AM
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^ They could put an NBA team in there for sure. It is definately a big enough arena. I am glad there is a Louisville Development thread here now. I am interested in this city. I was there about 4 years ago and I liked what I saw.
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Old Posted Mar 6, 2007, 2:50 AM
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This is just a rendering of what could happen with the University of Louisville's downtown Health Sciences Campus. It could double in size in the future. Here is the link to the actual article:
http://theestatenews.com/housing-mar...ate=2007-02-21

This is great for the city and its emerging health care sector. Hospitals are popping up everywhere, especially in eastern Jefferson County where there is substantial growth. Southern Jefferson County as well as Southern Indiana are also seeing new and improved hospitals as the health care sector takes off in Kentucky. Nothing huge really, just thought I'd post it.
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Old Posted Mar 6, 2007, 3:15 AM
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Louisville's downtown is seeing a rebirth and thriving. At the center of it all, a believeable catalyst is Waterfront Park. The park received the highest honor for any urban park in the United States in 2002, the Phoenix Award. Home to the 'Great Lawn' which features concerts and summer festivals, playgrounds and landscaping, planned and started condominiums, riverside restaurants, Slugger Field Baseball Stadium, water features, rowing and sporting facilities, and an amphitheater, Waterfront Park proves to have something for the whole family. Waterfront Park is just minutes from Louisville's thriving entertainment district and museum row. The park is directly responsible for millions in investments in the housing and retail sectors in the area. It is also home to one of the nation's best skate parks.
At the center will be the Big Four pedestrian bridge. It will be constructed from an abandoned bridge currently in place. It is said to be the new largest pedestrian-only bridge in the world after construction. However, I've also read that it will be the second largest after construction. The competitor: the Purple People's Bridge connecting Cincinnati, Ohio, to Newport, Kentucky. Either way, Kentucky will be home to the two largest pedestrian-only bridges in the world. Here are some renderings and links to articles. The last link here mentions it could be open by 2009!




http://www.geotechengineers.net/sp-big-four.html
http://www.courier-journal.com/apps/...WS01/703050428

Last edited by bw87a; Mar 6, 2007 at 3:33 AM. Reason: left out info
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Old Posted Mar 29, 2007, 7:30 PM
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Quote:
Originally Posted by bw87a View Post
Louisville's downtown is seeing a rebirth and thriving. At the center of it all, a believeable catalyst is Waterfront Park. The park received the highest honor for any urban park in the United States in 2002, the Phoenix Award. Home to the 'Great Lawn' which features concerts and summer festivals, playgrounds and landscaping, planned and started condominiums, riverside restaurants, Slugger Field Baseball Stadium, water features, rowing and sporting facilities, and an amphitheater, Waterfront Park proves to have something for the whole family. Waterfront Park is just minutes from Louisville's thriving entertainment district and museum row. The park is directly responsible for millions in investments in the housing and retail sectors in the area. It is also home to one of the nation's best skate parks.
At the center will be the Big Four pedestrian bridge. It will be constructed from an abandoned bridge currently in place. It is said to be the new largest pedestrian-only bridge in the world after construction. However, I've also read that it will be the second largest after construction. The competitor: the Purple People's Bridge connecting Cincinnati, Ohio, to Newport, Kentucky. Either way, Kentucky will be home to the two largest pedestrian-only bridges in the world. Here are some renderings and links to articles. The last link here mentions it could be open by 2009!
Right now I'm going to NKU (it's a couple minutes away from Cincy) and I saw the Purple people bridge from the levee and to me, it seems like the Big 4 bridge would eat the Purple People bridge for lunch. I don't think the width of the Ohio river up here is anywhere near the width down in Louisville. Anyway, I can't wait for the bridge to be finished!

bw87a, don't forget about 1997. That's odd that the river didn't cover any part of waterfront park that day. I remember going down to the river about a month ago and the water was covering the outer edge of the Great Lawn, and i don't think there was any major storms prior.
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