LOUISVILLE, Ky. (WHAS11) -- The site of a former Philip Morris Plant could soon be the headquarters to Passport Health Plan.
The 20-acre site is located at 18th Street and Broadway in West Louisville.
Years ago the property housed the old Philip Morris Plant, and more recently there was hope a Wal-Mart would use the property.
Despite today’s announcement, there's still a long way to go before we see construction begin, and Passport's 550 employees move downtown.
Developers tell WHAS11 that time constraints and red tape were ultimately the downfalls of past projects, but they say this time it's different.
Draped in barbed wire, in the shadow of Brown-Foreman, is a property that city leaders see as the key to West Louisville and the California neighborhood where it is located.
"We have been quietly working behind the scenes as people said we need to do more for West Louisville, and it's been like yeah I know we need to do that,” said Louisville Mayor Greg Fischer. “You just can't snap a finger and good things happen overnight."
Twice there have been plans to transform the corner of 18th and Broadway, including a proposed Walmart in the middle of this food desert, and both times the development failed.
"There's a lot of excitement that something is going to happen again, but the first two should have happened,” said Teresa Bridgewaters.
While community leaders came together to pray that Passport Health's plan to move its headquarters to the West End, Mayor Greg Fischer preached that this plan is different.
"What makes this project different is the financing is behind it already,” said Fischer. “You've got a company that's headquartered down here in Passport. They control what they can do."
However, even Passport CEO Mark Carter admitted that's not necessarily true since Metro Council must still approve a Tax Increment Financing plan, which has never happened in West Louisville before they break ground.
"We don't really have a budget yet,” said Passport CEO Mark Carter. “We'll work with the developer to build the building. We'll select a developer. The developer will probably own the building and lease it to us."
If these things all come together in time, Mayor Fischer says the project will be a win in an area of town that has undergone decades of loss.
"This is transformational for this part of the city,” said Fischer. “Retail will come, entertainment will come, and restaurants will come after this."
If all goes as planned, Passport will be moving into their new corporate headquarters at 18th and Broadway in late 2019 or early 2020.
The rest of the development on the site could take as much as a decade to come to fruition.