LOUISVILLE, Ky. (WAVE) – The U.S. Army Corps of Engineers has announced plans to move its headquarters to the Central Business District as LG&E moves out of its tower at 220 West Main Street.
In a press release, the Army Corps of Engineers states that 750 employees are expected to work there.
“This will preserve all the jobs and bring them more into the central business district,” said Pat Mulloy, deputy mayor of the Louisville Economic Development Alliance (LEDA).
“Their presence will further increase the economic vitality of our city and contribute to the ongoing revitalization of our downtown,” Mayor Craig Greenberg said in the press release.
The move comes at a time when the city is trying to revitalize the area, where many companies have left their traditional office space. CBRE’s second-quarter 2024 report shows a vacancy rate of 25.7% in the Central Business District.
The problem does not only affect Derby City.
“Louisville is not alone in this,” Mulloy said. “Central business districts across the country are reorienting and transforming their operations.”
Repurposing is an important part of the city’s future plans. This year, Kentucky’s legislature approved $100 million for downtown revitalization.
The Louisville Growing Together plan provides an overview of revitalization, from housing growth to attracting tourism revenue.
Buildings like the LG&E Center offer Louisville different options for what this could look like.
“They need to be redesigned and repurposed as housing, restaurants and perhaps offices of various kinds. So we will have capital available for such projects,” Mulloy said.
Downtown Louisville benefits from tourism, which Mulloy said has increased in recent years.
“Tourism has really saved our central business district,” Mulloy said. “We have several million visitors here every year.”
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