Something new is in the works for the former Bank of Louisville building that has been mostly vacant for about five years.
Originally built as the bank’s headquarters in 1967, the building at 500 W. Broadway was sold in a foreclosure auction in 2017. At the time, it was valued at about $1.5 million.
A few years later, local architecture firm Luckett & Farley announced plans to develop the 11-story building into a $50 million, 195-room boutique hotel called Hotel Indigo. The lodging was expected to include a restaurant and bar by Joe Hammond Group, a coffee bar by Fante’s, and more. But the hotel and its anticipated amenities never came.
Last month, the building went to auction again — and now, Louisville-based LDG Development is working out what to do with the 250,000-sqft structure.
Details haven’t been released — and development + financing plans are still being finalized — but we suspect the project might be part of the company’s phased development just across the street on the space formerly occupied by Brown Bros. Cadillac.
LDG Development also owns the 5.35-acre property where the car dealership once stood. Crews began tearing down the buildings between Broadway and Fourth Street last month, and the site is slated to bring 186 new apartment units to downtown LOU.
