The $35 million project to revitalize western Louisville, support local food economy shelved after major tenant backs away
The developer of the West Louisville FoodPort abruptly canceled the $35 million project Wednesday, shelving the celebrated local food project that has been a cornerstone of Mayor Greg Fischer’s redevelopment strategy in the West End.
Two years in the making, the project’s financial plan fell apart upon the withdrawal earlier this month of a crucial financial anchor, the $23 million indoor vertical farm proposed for the 24-acre complex at 30th Street and Muhammad Ali Boulevard.
“We don’t have a way to put it together,” Seed Capital co-founder Stephen Reily said. “We are deeply disappointed.”
Three weeks ago, Reily said, FarmedHere, a vertical farm company based in Chicago, informed Seed Capital that it would not be able to commit as expected to breaking ground at the FoodPort, due to internal financial issues.
FarmedHere had pledged to begin construction next summer on a 60,000-square-foot facility to cultivate basil, micro greens and other crops for wholesale.
FarmedHere’s withdrawal is the second setback for the FoodPort project, which had initially counted on a methane plant that was spiked last year…