Will (when) Louisville be "discovered?" (Frankfort, Bardstown: houses, unemployment rate)

[Serious Conversation]

Louisville gets a lot of accolades for being a bohemian/hipster town. Many of these towns have been discovered by gentrifiers and much of what made the city what it was is lost in the process.

When (or if) do you think Louisville will be "discovered?"

[ServoMiff]

Originally Posted by Serious Conversation

Louisville gets a lot of accolades for being a bohemian/hipster town. Many of these towns have been discovered by gentrifiers and much of what made the city what it was is lost in the process.

When (or if) do you think Louisville will be "discovered?"

When a more diverse economy shows itself.

[thunderkat59]

Using Bardstown Road--a gathering place for all types/groups of people-- as a gauge, some parts have morphed considerably in the past 5 years. With the morph being toward bigger, national corporate entities, it appears it is being 'discovered' right now. With that, come the phenomenon you mention. The insidious "losing it" process . . . The uniqueness and local flavor is being replaced by boring commercial.

[ServoMiff]

Originally Posted by thunderkat59

Using Bardstown Road--a gathering place for all types/groups of people-- as a gauge, some parts have morphed considerably in the past 5 years. With the morph being toward bigger, national corporate entities, it appears it is being 'discovered' right now. With that, come the phenomenon you mention. The insidious "losing it" process . . . The uniqueness and local flavor is being replaced by boring commercial.

Yeah, but I think the growth of downtown, Butchertown and other areas has moved some of that out. I'm not sure if the overall growth of the city and movement of small businesses instead of replacement of them could be called gentrification. There's just more cool places of the city than there used to be.

[thunderkat59]

Originally Posted by ServoMiff

Yeah, but I think the growth of downtown, Butchertown and other areas has moved some of that out. I'm not sure if the overall growth of the city and movement of small businesses instead of replacement of them could be called gentrification. There's just more cool places of the city than there used to be.

Crescent Hill reality has jumped almost a third in that same five years, I believe. I think Germantown is going to be the next area to gentrify or 'Highlandize' in a big way. Starting with the Barrett areas and moving in.

[Peter1948]

Originally Posted by ServoMiff

When a more diverse economy shows itself.

Louisville has one of the lowest unemployment rates in the US.

Louisville will never be a major tech or financial center. Coastal cities have that on lock down.

But with healthcare, aging care, logistics, distribution, even education with the rise of UofL, and advanced manufacturing, the city's economy is the most diverse it has been since the 1800s!

[Peter1948]

Originally Posted by thunderkat59

Using Bardstown Road--a gathering place for all types/groups of people-- as a gauge, some parts have morphed considerably in the past 5 years. With the morph being toward bigger, national corporate entities, it appears it is being 'discovered' right now. With that, come the phenomenon you mention. The insidious "losing it" process . . . The uniqueness and local flavor is being replaced by boring commercial.

You are 100% correct. The city has been big time discovered. You are even seeing it with national retailers. I still do not think it will see a Nashville or Austin type "overgrowth." This has more to do with Ky not being a right to work state and its agrarian tax code. TX, TN, NC, etc, have aggressive and in some cases tax free plans to attract business.

To be honest, as much as I disagree with Matt Bevin on many issues, he will be good for alot. If he agrees to alllow voters to go for the LIFT tax in Louisville and it passes, that will pump probably a quarter billion into the city coffers and you will see major neighborhood redevelopment, bike and road improvements, and some of the large scale projects like were done in the last ten years in OKC when it transformed itself to a backwater "wild west" town to a cosmopolitan NBA city in just a decade. In fact, I would expect the Lift tax to provide the support to create Waterfront Park West. If this happens, Portland and the warehouses on 15th street will become Louisville's 12th major gentrified area and my prediction will be it garners national attention. There are enough players down there, it is just a decade or more away.

[ServoMiff]

Originally Posted by Peter1948

Louisville has one of the lowest unemployment rates in the US.

Louisville will never be a major tech or financial center. Coastal cities have that on lock down.

But with healthcare, aging care, logistics, distribution, even education with the rise of UofL, and advanced manufacturing, the city's economy is the most diverse it has been since the 1800s!

Healthcare, distribution and education aren't industries that get a city "discovered". You're missing the point, and debating words instead of the idea.

I'm not really sure what to think of Bevin from a business perspective, but if changing the tax structures to make SMBs more attractive to the area, I think Louisville could eventually become something like Raleigh/Durham. Even within Healthcare, it's really only enterprise companies (correct me if I'm wrong there) There really should be more dental related startups in Louisville with the great school we have, and I think tax structure is one reason that hasn't happened here.

[thunderkat59]

Originally Posted by Peter1948

To be honest, as much as I disagree with Matt Bevin on many issues, he will be good for alot. If he agrees to alllow voters to go for the LIFT tax in Louisville and it passes, that will pump probably a quarter billion into the city coffers and you will see major neighborhood redevelopment, bike and road improvements,

Fischer and Bevin are businessmen and friends. It might be good to finally have that connection in Frankfort.
I hope what you say is correct and my paranoia is unwarranted. This will be interesting!

[Peter1948]

Originally Posted by ServoMiff

Healthcare, distribution and education aren't industries that get a city "discovered". You're missing the point, and debating words instead of the idea.

I'm not really sure what to think of Bevin from a business perspective, but if changing the tax structures to make SMBs more attractive to the area, I think Louisville could eventually become something like Raleigh/Durham. Even within Healthcare, it's really only enterprise companies (correct me if I'm wrong there) There really should be more dental related startups in Louisville with the great school we have, and I think tax structure is one reason that hasn't happened here.

I agree. Where is delta dental based?

There are more small to medium sized companies in Louisville than you think...places like Genscape, Zirmed, and Atria are BIG TIME companies (these are just a few). Very important even on an international scale. They are just not to the level of Fortune 500 yet.

I like to think I know just about everything about the city, then today I read about US WorldMeds. They built a huge new HQ in Prospect. They are a pharma company and it said in the BF article they want to be "Louisville's answer to Indy's Lilly." Strong words.

What we are seeing in Louisville is the opposite...the old matra was get jobs, and the people will follow. What Louisville is doing now is getting the people first...and they are CREATING jobs. That is the way of the new economy and trust me, Louisville is just hot right now. Outside the bridges, you are about to see a half dozen tower cranes rise in downtown in the next couple years. And that doesn't account for the billions in historic rehabs.