LOUISVILLE, Ky. — Another big player is moving out of it's iconic building in downtown Louisville.
Cincinnati-based Fifth Third Bank plans to move its Louisville operations out of the 4th Street Tower, formerly known as the Brown & Williamson Tower, and into a space in the NuLu neighborhood. The news came one day after Humana, Kentucky's only Fourtune 500 company, announced plans to vacate Humana Tower in downtown.
Lee Weyland, of Weyland Ventures, confirmed the news to WHAS11. Weyland said the bank will occupy 12,500 square feet in a new development in NuLu.
Fifth Third Bank recently signed an agreement to be the anchor tenant at the development being built at the corner of Shelby and Jefferson Streets. The commercial space, known as NuLu Yard, will also include a hotel, housing and parking in the 12,500 square feet of space.
"And that's really going to contribute to the explosive growth we're seeing in NuLu," said Greater Louisville Inc. President and CEO Sarah Davasher-Wisdom. “That’s a natural extension of our downtown region.”
The move is planned for 2025.
On Monday, Humana announced plans to leave the iconic building on Main Street to the recently renovated Waterside Building on North Brook Street and neighboring Clocktower building. A company spokesperson said the Waterside and Clocktower buildings offer "modern facilities and amenities that are well-suited" for employees.
The healthcare insurance giant shifted to mostly remote work post COVID-19 pandemic.
"It may seem like a lot of announcements at once, but we're very hopeful that is the beginning of a true renaissance and revitalization of downtown," Davasher-Wisdom said.
But for Bearno's owner George Timmering, the two big announcements have left him with questions -- and concerns.
"Well we're not happy, it was kind of a one-two punch; Humana has been a great corporate citizen, Fifth Third Bank and that building that they've had on fourth street has been a big part of downtown for a long time…so they're hits," Timmering said.
He recently moved his restaurant from the 2nd Street Bridge further into the heart of downtown, saying he wants to see people moving to downtown and not leaving.
“There’s an energy and a uniqueness of downtown that you don’t have out at the suburbs or in office parks," Timmering said. “To me, life’s about momentum and if you have two things like that it hurts your momentum so I want the downtown momentum to just keep on growing.”
Davasher-Wisdom said the downtown Fifth Third building will be undergoing major renovations at the end of the year.
She said while they say it's still early to have conversations surrounding who or what will be moved into the skyscraper, GLI is in talks with brokers to find the best business to takeover the building.
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