LOUISVILLE-  The city of Louisville announced today that Omni Hotels & Resorts will build a 30+ floor skyscraper in downtown Louisville that includes a 600-room, hotel topped by 225 luxury apartments. Situated one block from the Kentucky International Convention Center, the new Omni Louisville Hotel will be the first four-diamond, luxury hotel in the area.

The new architectural landmark on the city skyline will be the third tallest building in the city, behind the National City Tower (40 stories) and the Mercer Tower (35 stories). The complex will includes two restaurants, a lobby lounge, 70,000 square-feet of meeting space, a local art gallery open to the public, a rooftop cafe, spa and fitness center, swimming pool and grocery. The project will be sustainable, with LEED certification.

The $289 million project will be completed in late 2017 with an opening no later than March 31, 2018, Mayor Greg Fischer said.

“The investment is a significant boost for downtown and is a sign of confidence in our city by Omni Hotels & Resorts, a nationally recognized luxury hotel brand,” Fischer said. “Outside of the bridges project, this will be the largest single investment occurring in Louisville.”

It was announced in March that Omni would partner with The Cordish Company, developer and owner of Fourth Street Live, to build a new hotel, apartments and grocery on the old Water Company block at Third and Jefferson streets. After further discussion with Cordish, it was decided that Omni will be the sole developer of the project, making it the first Omni property in Kentucky.

“We are looking forward to breaking ground on the new Omni Louisville Hotel,” said Mike Deitemeyer, president of Omni Hotels & Resorts. “We are confident that this new, mixed-use complex and four-diamond hotel will bring additional convention and tourism business to the bustling city of Louisville and we are excited to be a part of the community.”

Cordish will transfer its development rights for the Water Company block to Omni while continuing in its successful and long-running Fourth Street Live project.

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Fischer said the project is a public-private partnership with Omni paying 52 percent of the development costs and the city and state providing 48 percent, which includes $104.5 million through a rebate of taxes generated by the project, $17 million for a parking garage to be constructed and owned by the Parking Authority of River City (PARC) and $17 million, the value of the land.

Omni's investment complements numerous other projects planned or underway downtown including six new hotels bringing an additional 1,500 rooms, over $50 million invested in bourbon tourism experiences and the expansion of the Kentucky International Convention Center (KICC), as well as the $2 billion Ohio River Bridges Project.

Fischer announced that prevailing wage will be paid on the entire project with goals set for local and minority participation.

The Louisville Metro Council has been asked to consider and approve three ordinances:  

• An ordinance regarding the surplus of the property, local participation, disposal of prior promissory note commitment with Fourth Street Live!;
• Amendment of the tax-increment financing map and the Development Agreement between Omni and Cordish;
• And bond authorizations for the construction fund and the PARC garage.

Upon approval, the next steps will include working with Omni and the historic preservation and the local workforce communities regarding final design and construction.

About Omni Hotels & Resorts

Omni Hotels & Resorts creates genuine, authentic guest experiences at 60 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. With over 20 world-class golf courses and award-winning spa retreats, to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options.  Known for its distinguished, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company's “Power of One” associate empowerment program. The brand is frequently recognized by top consumer research organizations and travel publications. To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.