In September of this year, the South End Loan and Incentive Fund was announced by Mayor Craig Greenberg and the Louisville Economic Development Alliance. This project is a $2 million investment to support local business development, by investing in commercial property improvements, and attracting new restaurants along Dixie Highway. Mayor Greenberg is quoted on the Louisville.gov website about this program, saying “The South End is a vital part of our city’s identity and economic future. This new fund allows Metro Government to partner directly with the businesses that will keep our South End neighborhoods thriving. Whether you’re a legacy business that’s been here for years, or a national restaurant brand looking to expand, Louisville is ready to partner with you.” This program is designed to reduce commercial vacancies, increase foot traffic, and stimulate long-term activity in the South End. The Dixie Highway Corridor runs from downtown Louisville through southwest Jefferson County, out to the Gene Snyder Freeway. It is one of Louisville’s main commercial corridors. Brent Dolen, a senior director at Cushman & Wakefield | Commercial Kentucky noted, “While it remains a stronghold in the community, vacancy rates are increasing in the area. Attracting new companies from outside Kentucky is one way to reduce these vacancies and broaden the retail options for those who live in Southwest Louisville, an area in need of more retail and commercial services.”  Southwest Louisville is heavily populated – well over 250,000 residents live within a 3-mile radius of the Dixie Highway corridor.  This is also one of the heaviest trafficked arterials in the city, as many commuters living south of Jefferson County travel north on Dixie Highway into the city for their jobs.  In fact, some of the busiest sections of Dixie Highway experience over 70,000 vehicles per day.

The program is divided into two opportunities. The first is the South End Legacy Business Grant reserved for small businesses operating in the South Points Scenic Area. Those businesses satisfying the requirements may receive up to $10,000 in grant funds for capital improvements. This is to support local businesses through real estate improvements and expansion. The second program totals $1 million, which is earmarked for the Dixie Highway Restaurant Attraction Incentive fund. This money is designed to attract established national or regional restaurant brands to the area. To read more about either program, please visit the Louisville Economic Development Alliance’s website.

This program offers an excellent opportunity for investors looking to break into the Louisville market. Cushman & Wakefield | Commercial Kentucky can assist in finding properties that could work for your brand in an area that meets the criteria. Contact a broker today for assistance in finding the right commercial space for your company.