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Louisville Business First
These are the most expensive Jefferson County homes sold (May 16-17)
A new ranking of the nation's wealthiest ZIP codes shows nine of the top 10 were in the New York City metro area. <\p> Three Indiana ZIP codes and two in Kentucky appear on the list of hotspots for wealth. The top 25 were located in the nation's most populated metros, including New York, San Francisco, Chicago, Miami and Boston.<\p>
LBF wins 12 Society of Professional Journalists awards
The editorial staff at Louisville Business First took home several awards from the Society of Professional Journalists – Louisville Pro Chapter's annual awards event Thursday evening.<\p> The chapter's annual dinner and awards program was held last night at Bristol Bar & Grille on Main Street in Downtown Louisville. Staff members were honored for a range of work including reporting, photography, data and graphics. Contest entries were judged by the SPJ chapter in Hawaii.<\p>
This is how Louisville can streamline its development process
Time is money when it comes to real estate development, but Louisville’s archaic Land Development Code (LDC) often adds unnecessary delays into the process.<\p> That was the consensus among the panelists who took part in a discussion on land use reform at Louisville Business First’s Opportunity Louisville event at The Olmsted on Thursday.<\p>
Former Passport property donated to JCPS
The 20-acre plot at the intersection of Dixie Highway and Broadway in West Louisville has sat undeveloped for 20 years, but that's seemingly about to change.<\p> In 2026, the long-vacant property near the Republic Bank Foundation YMCA and Perry Elementary School will become the home of J. Blaine Hudson Middle, the first new middle school in West Louisville in nearly 90 years.<\p>
Louisville's newest public company raises nearly $1 billion
Louisville's newest publicly traded company raised more than $900 million at its IPO this week, making it one of the largest IPO raises on Wall Street this year.<\p> Health care payment tech firm Waystar Technologies announced Thursday night it sold 40 million shares at $21.50, the midpoint of its $20-$23 initial asking price, raising $968 million. It is trading under the WAY ticker on the Nasdaq exchange. <\p>
TARC gets new executive director
Louisville Mayor Craig Greenberg on Friday announced his immediate appointment of Ozzy Gibson as executive director of Louisville’s Transit Authority of River City, or TARC. He had been serving as interim executive director.<\p> On Friday morning, the TARC board was set to vote to approve Gibson's compensation package during a special meeting along with other items, including the proposed agreement with Jefferson County Public Schools on busing, according to a city news release.<\p>
New-to-market retailer breaks ground on first Kentucky store
A new-to-market retailer is a few shovels of dirt closer to opening its doors.<\p> BJ’s Wholesale Club Inc. broke ground on its first Kentucky store this week at 4801 Outer Loop, which is the former Sears space at the Jefferson Mall. The company purchased the property for $7.5 million from Jefferson Anchors LLC in April.<\p>
Local company named title sponsor of Kentucky's PGA Tour event
A Louisville-based company will be the title sponsor of the only regularly scheduled golf tournament in Kentucky on the PGA Tour.<\p> On Wednesday, the PGA Tour announced that ISCO Industries — one of Louisville’s largest private companies — would be the title sponsor until 2027 of the event scheduled to take place at Champions at Keene Trace Golf Club in Nicholasville, Kentucky (outside of Lexington) from July 8-14.<\p>
Louisville needs more housing options, streamlined development
Louisville Metro is short about 36,000 affordable housing units, according to the most recent Housing Needs Assessment.<\p> That substantial hill to climb is not going to be solved by single-family home construction, despite the fact that 75% of the city is zoned for single-family residential.<\p>
Office conversions: Buildings are 'upside down before you even start'
Whether trying to converting office buildings to residential units in Dayton, Ohio; Fort Wayne, Indiana; Cincinnati or Louisville developers are running into a similar obstacle.<\p> “All the markets have fundamentally the same problem. Almost all of these buildings are financially upside-down,” said Lasserre Bradley, president of development at Cincinnati-based The Model Group. “Many of them that we run into they were purchased with 2% to 3% interest rates when occupancy was quite a bit higher. Now they’re facing an eventual end of their loan term and to replace that debt they’re going to be going to be in the 7% plus interest rate [range] and they’re at significantly lower occupancies.”<\p>
Upscale East End restaurant gets new name, menu
Former Churchill Downs executive chef David Danielson purchased Anoosh Bistro from its founder Anoosh Shariat in April, but the new owner held off on making changes to the restaurant because of the string of special events happening in May — Kentucky Derby 150, Mother's Day, the PGA Championship, and then Memorial Day.<\p> Now that all those festivities are behind him, this week Danielson is rebranding Anoosh Bistro as äta, a Swedish word that means, “to eat." The chef said the new name and internationally-focused menu speaks not only to his Scandinavian roots, but his globe-trotting career as well.<\p>
Why does it takes so long to build something in Louisville?
Developer Alan Muncy, founder of Jeffersonville, Indiana-based arc, a construction and real estate firm, is licensed to do business in 14 states. <\p> Muncy has developed and/or constructed Starbucks locations, Verizon Wireless stores, apartment buildings, restaurants, and shopping centers in Indiana, Ohio, Colorado, New York, Kentucky, and South Carolina, among other places. <\p>
Louisville's powerbrokers come out for LBF reception (PHOTOS)
Some of the city's most powerful and influential leaders came out for Louisville Business First's Power 50 reception earlier this week. <\p> LBF's Power 50 list of Louisville's influential leaders was revealed earlier this spring. It includes people working in various industries — commercial real estate, accounting, venture capital and much more. <\p>
NKY innovation hub lands grant from Truist
Blue North's Northern Kentucky Entrepreneur Fund recently received a boost in the form of a $30,000 grant from Truist.<\p> Founded in Jan. 2023 in partnership with Cincinnati-based Main Street Ventures and with support from the R.C. Durr Foundation, the fund provides financial resources in the region for startups.<\p>
The National Observer: Sign of reversal seen amid loan delinquencies
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today we've got stories on a decline in asking prices in the housing market, a shift in consumer-spending habits and changes coming to Cracker Barrel restaurants. But first, we go inside the numbers on still-rising delinquencies among loans backed by commercial real estate.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
East End apartment development paused over traffic concern
A rezoning request that would have allowed for an East End apartment complex has stalled while the developer and city officials await more information on better traffic solutions in the area. <\p> The Louisville Metro Planning Commission unanimously decided to pause its rezoning recommendation for a proposed three story, 198-unit apartment complex on 5 acres of the Glen Oaks Country Club property at a more than four hour public hearing held Tuesday at Kentucky Country Day School. <\p>
New bar and gameyard coming to Highlands
A new bar and gameyard is coming to the former Wash-O-Rama laundromat location in the Cherokee Triangle neighborhood near the Highlands this summer.<\p> Atomic will be located 1125 Bardstown Road. The new 12,600 square foot development will feature is scheduled to open in July.<\p>
Panda Express opening new location
Panda Express, which calls itself the largest Asian dining concept in the U.S., is opening its newest location in the area.<\p> A grand opening and ribbon-cutting is planned for its new store at 4010 E. 10th St. in Jeffersonville, Indiana, on Thursday. <\p>
Brown-Forman shares fall on 8% sales drop
How is the financial health of the Brown-Forman Corporation? It’s a complex topic. <\p> That’s the main buzzword that Lawson Whiting, its president and CEO, chose to use when addressing those who sat in on the its fourth quarter earnings call — and about Brown-Forman’s overall outlook on what transpired in the fiscal year.<\p>
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