The UofL Development Company (ULDC) was created to develop and manage Foundation real estate for the benefit of the University of Louisville. It was originally established to serve as the Foundation’s master development arm for the ShelbyHurst Office and Research Park in eastern Jefferson County. More recently, ULDC added the new Belknap Engineering & Applied Sciences Research Park, contiguous to the JB Speed School of Engineering, to its portfolio of properties.
ShelbyHurst is a 230-acre area located in the suburbs at the intersection of Hurstbourne Lane and Shelbyville Road. A 20-acre core of the campus is identified for academic purposes. The University’s Regional Biosafety Laboratory is located in the southeast corner of the property on Hurstbourne Lane, and the remaining acreage is designated for research and office buildings.
When completed, the impressive ShelbyHurst Office Campus will have over 1.5 million square feet of modern office space managed, developed and leased by NTS Development Co., in partnership with the UofL Foundation. The first three projects are in full swing.
600 North Hursbourne – Transformation is evident at the busy northeast corner of ShelbyHurst with the completion of 600 North. The LEED-certified, 125,000-square-foot office building is 80 percent leased and serves as corporate headquarters to Churchill Downs, NTS, Semonin Realtors and Stifel Nicolaus.
500 and 700 North Hurstbourne
Planning and design is currently underway for 500 and 700 North, ShelbyHurst’s newest properties. With construction set to begin later this year, these properties will have between 100,000 and 130,000 square feet of Louisville’s most prestigious office space.
ShelbyHurst was designed around a four-lane boulevard through the campus bordered by bike lanes and wide attractive sidewalks. Special attention was given to enhancing green space and improving the life of the surrounding community. The green design of the entire development, combined with the convenience of a new boulevard and modern throughways, will facilitate driving, walking and biking through the campus.
Belknap Engineering & Applied Sciences Park
Ground was broken this summer and plans are underway for the 390-acre Belknap Engineering & Applied Sciences Park, the centerpiece of a Signature Tax Increment Financing (TIF) district, designed to stimulate economic growth in an area around UofL’s Belknap campus. The TIF district covers more than 900 acres stretching from Belknap Campus south to the Watterson Expressway. The Kentucky Economic Development Finance Authority recently approved the TIF, paving the way for what could be an estimated $1 billion over 30 years.
The historic TIF project will ultimately leverage the academic and research functions of the University of Louisville into an exceptional economic engine that will result in an influx of high-wage jobs, growing revenue for the region and state. The park will be designed to attract researchers and private businesses that have the opportunity to work directly and collaboratively with UofL, and ultimately create an economic hub that will transform the South and South Central areas of Louisville.