With recent developments such as a new arena in Downtown Louisville, the city has decided to grant a demolition permit to a development company.
"Preserving the block has been at the center of a contentious fight between the community and developer Todd Blue and his firm Cobalt Ventures. After purchasing seven buildings and a vacant lot, where another structure had collapsed from neglect, for $4.3 million in 2007, Blue once hoped to build a $50 million retail and office complex with a tower ascending from its center. Highly praised at the time, plans called for razing the structures while leaving their Main Street facades intact. The project languished in the recession, and Cobalt Ventures eventually sought to tear down the buildings citing public safety concerns."
