The Haymarket's makeover is about to begin.
Ground will be broken in June or July on the first of three buildings that will transform the Haymarket, a downtown block where residents once shopped for produce, into a $330 million life-sciences research campus.
James Ramsey, president of the University of Louisville, which controls the life-sciences project, announced the construction timetable shortly after a state agency approved a special taxing district for the Haymarket site and for U of L's health-sciences campus.
Part of new income- and occupation-tax revenue from the 30-block district will go to develop projects there, including the life-sciences project and refurbishing U of L's extensive downtown medical facilities.
Those and other projects planned in the taxing district are expected to total $2.2 billion in capital investment and create an estimated 8,700 skilled jobs. The special taxing designation is also expected to generate more than $300 million for development in the 30 blocks in the next 20 years.
The 10-story, 210,000-square-foot building will house laboratories and offices for life-sciences companies. More buildings in the Haymarket block are to be built by 2016.
The Haymarket site will provide space both for start-up businesses that are growing out of U of L research and for companies recruited to Louisville. Read more.
