LOUISVILLE, Ky. — An estimated $125 million will be required to overhaul the Belvedere in downtown Louisville, according to newly released planning documents. The cost projection marks the first public estimate for the project, which is one of Mayor Craig Greenberg’s signature initiatives.
The Belvedere, a prominent public space located above I-64 at Main and Fifth streets, is set to undergo a major transformation as part of Greenberg’s vision to turn it into a “world-class destination.” In his recent State of the City address, Greenberg unveiled initial concepts for redesigning the 51-year-old site, which overlooks the Ohio River. The mayor envisions the revamped Belvedere as a central gathering place that will serve as the city’s “front yard” and a connector to the waterfront.
In addition to the $125 million estimate, the planning documents reveal that the revamped Belvedere is not expected to open until 2045, though such timelines are often adjusted as the project develops. Greenberg’s office had previously withheld a cost estimate, citing the early stages of the design process. However, the Kentuckiana Regional Planning and Development Agency (KIPDA), which oversees transportation planning in the region, recently posted the project’s projected cost.
Greenberg also hinted that a fundraising campaign will be part of the overall financing strategy. Layla George, the former president and CEO of Olmsted Parks Conservancy, has been tapped as a consultant to lead this effort, which will include community engagement and other key aspects of the project’s planning.
So far, the city has allocated $10 million in bond funds for the Belvedere redevelopment in its current budget. Additionally, the city is expected to utilize part of a $100 million earmark from the Kentucky General Assembly that was set aside last year for projects like this, though the exact amount is still uncertain.
The planning for the Belvedere project is part of a broader long-range transportation plan overseen by KIPDA, which is currently seeking public feedback on the proposal. A virtual public meeting is scheduled for 5 p.m. Tuesday, and comments will be accepted through February 11. While only four public comments have been submitted thus far, none fully support the current plans for the Belvedere. Some have suggested alternative uses for the funds, such as removing the elevated stretch of I-64 nearby—a proposal that has gained traction in the past.
The idea of removing the elevated freeway, known as the “8664” plan, was first raised during the planning stages of the Ohio River Bridges Project in the mid-2000s. Although officials from Kentucky and Indiana ultimately chose to proceed with the $2.3 billion bridges project, which added new downtown bridges and connections to nearby regions, proponents of 8664 continue to advocate for it as a means to improve Louisville’s urban landscape.
As the Belvedere redevelopment moves forward, public debate and community input will continue to play a pivotal role in shaping the future of this iconic space.
