Louisville Magazine is Louisville's city magazine, covering Louisville people, lifestyles, politics, sports, restaurants, entertainment and homes. Includes a monthly calendar of events.
Issue link: https://loumag.epubxp.com/i/62230
How Louisville Stacks Up Downtown Dividends By Tara Anderson "I really don't want to cut the grass anymore. I'm so tired of cutting grass." Tat's one of the promises of urban life: a maintenance-free home in a walkable place with no yard work. Bob Holt, a 47-year-old lifelong South End resident, has picked out his new 700-square- foot studio condo at the Mercantile Gallery Lofts on Market Street, and it's just a matter of paperwork before he can move in. He doesn't want to say how much he's paying (a similar one-bedroom is listed on the Mercantile's website for $189,000) but is eager to share photos of the sleek apartment, with polished-concrete floors and wooden beams along the high ceilings. Te kitchen has granite countertops, and the floor- to-ceiling windows allow light to flood the living room. It's a good deal smaller than his current three- bedroom, 2,000-square-foot house near Iroquois Park, but he thinks it'll be more than enough space. Besides, he wants to be out "where the action is." "Where's the hottest spot in town right now? It's downtown," Holt says. "I think that the Main Street area in particular, down by the arena, is becoming a much more person-friendly atmosphere." He considered other buildings downtown but liked the open floor plan offered at five-year-old Mercantile, a project by developer Todd Blue that kept the facades of its original two historic buildings (built in 1880 and 1933) with ultramodern interiors. Te building also offers a common lounge with flat-panel TVs and a pool table, a private outdoor courtyard, and a fitness center. Holt is the director of permitting at Nugent Sand, located on River Road close to downtown, and his move will cut his workday commute from 25 minutes to about five. ("Tat's more sleeping for me," he says with a chuckle.) Te condo offers parking for purchase, but he's going to wait and see if he really needs it before shelling out. For now, Holt says, street parking is plentiful. Te only thing really missing, he says, is grocery shopping. "I would like to see a market-style place where I can go around and get a gallon of milk or a six-pack of beer," he says. According to the Greater Louisville Association of Realtors, 86 units sold in downtown last year for an average price of $135,035. A decade ago, so few condos were sold or for sale in downtown Louisville that they were grouped with Old Louisville, Shively, Butchertown and the West End. "I work in the early stages of the construction industry, so we see more product going out, and that tells us things are starting to pick up some," Holt says. "I'm getting in incredibly cheap. Five years from now, I wouldn't be surprised if it was a 15 to 20 percent increase in value." And, of course, he can spend his weekends doing something besides mowing the lawn. $127,000 Style: Tri-level Square footage: 1,278 Bedrooms: Three Bathrooms: Two Details: In the Plantation VXEGLYLVLRQ RƗ :HVWSRUW Road near Lyndon; one- car garage. $240,000 Style: Cape Cod Square footage: 2,100 Bedrooms: Four Bathrooms: Three and a half Details: In the Forest Springs North subdivision near Oldham County; SDUWLDOO\ ƘQLVKHG basement; two-and-a-half- car garage. Ever wonder how the cost of housing in Louisville competes with nearby cities Indianapolis and Nashville? We did. So we found recently sold properties at three different price points — approximately $125,000, $250,000 and $500,000 — in comparable areas of each city to see how the other two- thirds live. Here's what you get for about the same money. Louisville $489,500 Style: Contemporary Square footage: 4,695 Bedrooms: Five Bathrooms: Four and a half 'HWDLOV 2Ɨ 6KHOE\YLOOH Road past the Gene Snyder in the Locust Creek subdivision; SDUWLDOO\ ƘQLVKHG ZDON RXW basement. Source: Lisa Stephenson, executive vice president, Greater Louisville Association of Realtors $127,500 Style: Traditional Square footage: 2,100 Bedrooms: Four Bathrooms: Two and a half Details: Homes in this price range can be found in most of Indy's townships and several suburbs; cul-de-sac; fenced-in back yard; IDPLO\ URRP ƘUHSODFH Source: Paula Henry, realtor, Sycamore Group Associates $125,000 Style: Ranch Square footage: 1,100 Bedrooms: Three Bathrooms: One Details: Five miles from downtown Nashville in historic Inglewood; lightly renovated; walking distance from Cumberland River. $249,900 Style: Colonial Square footage: 2,272 Bedrooms: Four Bathrooms: Two and a half Details: Eight miles from downtown; cul-de-sac; fenced-in back yard. Nashville $493,590 Style: Traditional Square footage: 3,816 Bedrooms: Four Bathrooms: Three and a half Details: New home 20 miles from downtown; modern amenities, including a morning bar, in the master suite Source: Grant Hammond, owner/broker, Metropolitan Brokers LLC 5.12 LOUISVILLE MAGAZINE [53] $239,000 Style: Ranch Indianapolis $494,000 Style: Traditional Square footage: 2,200 Bedrooms: Three Bathrooms: Two Details: In Avon, just west of Indianapolis; den; wooded lot; hardwood ƙRRUV Square footage: >6,500 Bedrooms: Five Bathrooms: Four and a half Details: Deeded boat GRFN ƘQLVKHG EDVHPHQW with theater room; updated kitchen.