Redtail Ridge developers to present scaled-back proposal to community

LOUISVILLE — After Louisville city leaders rejected an ambitious plan to redevelop the long-vacant Phillips 66 (NYSE: PSX) site, property owners Brue Baukol Capital Partners LLC are gearing up to take another swing and will present their new proposal in a pair of community meetings next month.

Brue Baukol’s design team will hold virtual town halls on Saturday, May 1, at 10 a.m. and on Wednesday, May 5, at 6 p.m.

Brue Baukol bought the site adjacent to U.S. Highway 36 late last year for $34.93 million, a discount of just more than 37% from the $55.6 million that ConocoPhillips paid for the property in 2008.

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Their plan was to build a large-scale, mixed-use development anchored by a corporate campus for medical-device maker Medtronic Inc. and a senior-living residential community.

Local residents and city leaders balked at the scope of the ambitious proposal, and Medtronic abandoned the project in favor of a development in Lafayette.

The scaled-back proposal nixes the residential component and now includes only office, industrial and retail uses. The result is 46% reduction in overall density, according to Brue Baukol.

With the density reduction, the developer intends to maintain previously proposed amenities and open spaces, Brue Baukol said in an email announcing the community meetings.

To register for the May 1 meeting, visit http://bit.ly/RTR2MtgMay1. The May 5 meeting can be registered for at  http://bit.ly/RTR2MtgMay5.

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