LOUISVILLE — The city of Louisville is going to convert Centennial Parkway from four to two lanes, with financial help from Denver-based Koelbel and Co., the major land owner in the Centennial Valley Business Park that is accessed via the parkway.
In addition to the lane reduction, a bike lane, pedestrian walkway and street-side parking spaces will be added in the $1.37 million project.
Built in the 1980s, the Centennial Parkway was due to be resurfaced this year, giving Koelbel an opportunity to work with the city to alter the street. The reconfiguration is expected to benefit tenants of Centennial Valley Business Park and nearby residents. Construction will begin this month with completion slated for early June 2017.
The city will be spending a little more than $1 million, and Koelbel will come up with the rest, about $340,000, according to the city. Koelbel also will spend between $100,000 and $150,000 for landscaping along the parkway and ongoing landscape maintenance.
The one-mile half-circle stretch of road runs from the McCaslin Boulevard/Cherry Street intersection to the McCaslin/Via Appia Way intersection. Louisville’s city manager, Malcolm Fleming, said traffic studies have shown that Centennial Parkway does not need two travel lanes in both directions.
Bob Muckle, Louisville’s mayor, said the private-public partnership with Koelbel will make the park much more pedestrian and bicycle friendly.
Expected benefits of the reconfiguration include:
- Pedestrians will be more prominent and visible.
- Bicyclists will be provided dedicated space on roadway.
- Additional on-street parking will reduce roadway speeds and provide development flexibility.
- Additional green spaces provided.
- Will serve existing and future development.
- Will provide a safer environment for all modes of travel.