LOUISVILLE, Ky. — Spencer Fronk and his company have invested in an old building on Whiskey Row in downtown Louisville, hoping to build an interesting bar and restaurant.
The building he chose has sat there since the 1880s, and it comes with a lot of wear and tear.
“From nightclubs and historic distillers to grocery stores and punk rock venues, this building has seen a lot in its 140 years on this block,” Fronk said. “And with that comes the challenge, but more importantly, becomes the opportunity for us to take this building and bring it to not just code, but exceed the code that is asked of us.”
Fronk received a $4.2 million loan through the city’s District Energy Project Assessment Program to build Number Fifteen. The city also reached an agreement with Tempo Hotel by Hilton for a $4.9 million loan.
The EPAD program helps private banks lend money to businesses, which then repay it over a decade or two through their property taxes, all with the aim of helping them cover initial construction costs and promote more energy-efficient electricity decisions. , heating and plumbing systems, among others.
It’s an initiative to help businesses make more environmentally friendly investments, and Mayor Greg Fischer said it’s essential to help us deal with climate change.
“It’s great when we can combine that, obviously, with business,” Fischer said. “It’s not a choice, like good for business, good for the climate; it’s both.
There’s more help out there for people who want to make greener business decisions, and not just in downtown Louisville.