Improvements to downtown Louisville tower are set to begin in 2Q 2024
Indianapolis IN, January 29th, 2024
KennMar is proud to announce its renovation plans for 401 S. 4th Street. The company acquired the iconic 26-story office tower in April 2023 and contracted architectural firm, DKGR, which recently completed Number 15 on Whiskey Row, to redesign the interior.
Located in the heart of Louisville’s Fourth Street Live, the company plans to capitalize on its proximity to this vibrant entertainment district by relocating and enhancing the tenant lounge area, adding a new conference area, and renovating the main lobby to incorporate stadium-style seating, a new coffee shop and an exterior patio. The renovations are set to begin in the second quarter of this year with an estimated completion in 4Q 2025.
“Since acquiring the property, our management and design teams have been working together to identify renovations that will support the needs of existing tenants and align with key trends in the office sector,” stated Brent Benge, President & C.E.O. of KennMar. “As a result, during the planning process we focused on redesigning spaces that will spur collaboration, prioritized modifications that will offer enhanced communal amenities, and have been working with Louisville Downtown Partnership to create an outdoor space that will be available to both tenants and to the community.”
Through its investment, the company is committed to making a positive impact in downtown Louisville and to supporting the local economy. With extensive experience in the Louisville commercial real estate market, the company has also partnered with Doug Owen and Yandell Wood of JLL to lease the property.
“Amenity rich downtown Louisville is the premier location for businesses. KennMar’s renovation of the Tower will epitomize the flight to quality. Following the completed renovations, the Tower will have the highest level of amenities and more than any suburban office building.,” said JLL Senior Vice President Doug Owen. “With modern, flexible spaces that cater to the evolving needs of tenants, these renovations become catalysts for additional economic growth, driving job creation and fostering innovation.”
Companies that relocate to downtown Louisville are now able to take advantage of attractive financial incentives. These incentives include an impressive 80% reduction in parking costs and the opportunity to receive cash incentives of up to $30 per square foot, which can be allocated for various business purposes.
“With momentum gaining in Downtown activations, mainly due to leisure tourism, these additional office amenities will be key in helping to ensure and attract strong daytime pedestrian activity and vibrancy,” said Rebecca Fleischaker, executive director of Louisville Downtown Partnership. “We are excited to see progress in this key location in the center of Downtown.”
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