The University of Louisville and a Lexington developer have announced plans to convert the Reynolds Building, a historic four-story structure at Third Street and Eastern Parkway, into upscale loft condominiums.
The Reynolds Lofts will offer 77 one- and two-bedroom condos to university faculty, staff and others at a cost of between $100,000 and $200,000. Planners expect the $8.75 million remodeling project to be completed by the /files/storyimages/of 2006.
“We’re thrilled that the Reynolds Building is going to be redone in a way that pays homage to history,” said U of L President James Ramsey.
The Reynolds Building, built in 1915, started out as a Ford Motor Co. assembly plant designed by industrial architect Albert Kahn.
Kahn is known throughout the world for his industrial designs of the early 20th century, said David Morgan, Kentucky Historic Preservation officer.
“He was a prolific architect and responsible for most of the major industrial plants of the big automakers — designing hundreds of buildings and factories for Ford and General Motors,” he said.
In 1940, Reynolds Metals bought the facility, first using it to make aircraft parts in World War II and later using it as a national sales office. When Reynolds left Louisville in 1958, it gave the building to U of L. (Reynolds Building timeline)
For years, the university used the facility for classrooms, offices and storage but had to move out in the early 1990s because of the building’s deteriorating condition.
“Now we’ll be restoring a historic treasure to its former glory, creating an innovative place to live and revitalizing the neighborhood in the process,” Ramsey said.
“This project defines reuse, and choice and connectivity,” said Louisville Mayor Jerry Abramson. “These are all important concepts of bringing our community together, and cornerstones of our new housing strategy.”
The McGoodwin Co., a Lexington developer that has won awards for historic preservation, will renovate the building. Company president Rob McGoodwin is applying to have the building placed on the National Register of Historic Places, he said.
“We’re proud to be breathing new life into a marvelous old structure,” McGoodwin said.
The developer is spending $7.5 million to renovate the building and paying U of L $1.25 million to lease the property for 99 years.
Key design elements of the building’s facade and interior such as walls, door frames and ceiling grids will be retained in the renovation, and elevator doors embossed with the Reynolds corporate logo will be reused, McGoodwin said.
“This is a wonderful example of how preservation not only gives new life to buildings, but also to surrounding neighborhoods, since it is our experience that these types of projects t/files/storyimages/to generate additional rehabilitation investment all around,” Morgan said.
Reynolds Building Timeline1915. Detroit architect Albert Kahn designs the facility as a Ford Motor Co. assembly plant. Early auto plants were dirty, cramped, dark and inefficient; Kahn’s design took into account what the workers did and where their materials should be placed to speed the workflow. The building is made of reinforced concrete in a method known as flat-slab construction, covered in bricks and has horizontal lines and an irregular shape. Brick work and terra cotta decorate its surface. It has been called a textbook example of early industrial architecture.
1924. Ford moves its plant to southwestern Louisville.
1940. Ford sells the building to Reynolds Metals, which is expanding operations in Louisville.Reynolds uses the building to make aluminum airplane parts during World War II and later converts it to a national sales office. Several rounds of remodeling include the addition of aluminum windows and awnings and installation new elevators with aluminum doors embossed with the Reynolds corporate logo. Most of the original entrances on the east side are filled in with glass block.
1958. Reynolds moves its sales headquarters from Louisville to Richmond, Va., and gives the building to the University of Louisville.
Early 1990s. U of L ceases to use the facility for classrooms, office space and storage after many years because of the building’s deteriorating condition.
November 2003. The U of L Board of Trustees authorizes President James Ramsey to take appropriate action to sell or lease the property.
Late July, 2005. U of L signs an agreement with The McGoodwin Co. to convert the building into The Reynolds Lofts.
The Reynolds Lofts will offer 77 one- and two-bedroom condos to university faculty, staff and others at a cost of between $100,000 and $200,000. Planners expect the $8.75 million remodeling project to be completed by the /files/storyimages/of 2006.
“We’re thrilled that the Reynolds Building is going to be redone in a way that pays homage to history,” said U of L President James Ramsey.
The Reynolds Building, built in 1915, started out as a Ford Motor Co. assembly plant designed by industrial architect Albert Kahn.
Kahn is known throughout the world for his industrial designs of the early 20th century, said David Morgan, Kentucky Historic Preservation officer.
“He was a prolific architect and responsible for most of the major industrial plants of the big automakers — designing hundreds of buildings and factories for Ford and General Motors,” he said.
In 1940, Reynolds Metals bought the facility, first using it to make aircraft parts in World War II and later using it as a national sales office. When Reynolds left Louisville in 1958, it gave the building to U of L. (Reynolds Building timeline)
For years, the university used the facility for classrooms, offices and storage but had to move out in the early 1990s because of the building’s deteriorating condition.
“Now we’ll be restoring a historic treasure to its former glory, creating an innovative place to live and revitalizing the neighborhood in the process,” Ramsey said.
“This project defines reuse, and choice and connectivity,” said Louisville Mayor Jerry Abramson. “These are all important concepts of bringing our community together, and cornerstones of our new housing strategy.”
The McGoodwin Co., a Lexington developer that has won awards for historic preservation, will renovate the building. Company president Rob McGoodwin is applying to have the building placed on the National Register of Historic Places, he said.
“We’re proud to be breathing new life into a marvelous old structure,” McGoodwin said.
The developer is spending $7.5 million to renovate the building and paying U of L $1.25 million to lease the property for 99 years.
Key design elements of the building’s facade and interior such as walls, door frames and ceiling grids will be retained in the renovation, and elevator doors embossed with the Reynolds corporate logo will be reused, McGoodwin said.
“This is a wonderful example of how preservation not only gives new life to buildings, but also to surrounding neighborhoods, since it is our experience that these types of projects t/files/storyimages/to generate additional rehabilitation investment all around,” Morgan said.
Reynolds Building Timeline
