Museum Plaza Developers Scrap Plans for Tower
Museum Plaza would have extended Louisville's skyline. (Courtesy REX)
The first line of a press statement sent out by developers of the REX-designed Museum Plaza tower in Louisville, Kentucky put it bluntly: “Museum Plaza will not be built.” The 62-story hyper-rational tower—part kunsthalle museum, part residential and commercial hub, part art school—was hoped to signal the rejuvenation of the city’s urban core, but like so many iconic buildings proposed in the days leading up to the great recession, the vision succumbed to the realities of the financial markets.
Museum Plaza Rises from the Grave?
Could REX’s massive office/condo/hotel/art center finally be alive? We heard from Joshua Prince-Ramus that a “big announcement” about the project was coming, and now word arrives that Kentucky Governor Steve Beshear, Louisville Mayor Jerry Abramson and the project’s developers have called a press conference for 10:00 AM tomorrow. Has financing been secured? Is the project being scrapped? We’ll know more tomorrow morning.
Hats off to Braden Klayko, the brains behind Broken Sidewalk and an AN contributor, who even when he isn’t blogging is still most in-the-know person about architecture, planning, and development in Louisville. Thanks for the tip.
UPDATE: Another tipster says the developers have secured a HUD loan for the project. Will the program be altered to meet the terms of the loan?
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