A long-stalled effort to bring the historic Starks Building back from the dead may finally have its missing puzzle piece, and it came at a bargain-basement price.
Underhill Associates has snapped up a five-story building at 315 W. Muhammad Ali Boulevard, giving the firm control of the lot that hugs the 14-story Starks tower. The purchase could finally create room for the back-of-house functions and amenities that earlier proposals never quite fit in, and that extra space might be what nudges the long-discussed revival into the construction phase. According to the Jefferson County PVA property-search site, parcel and assessment information can be retrieved online via the county's Property Search tool by searching the address.
The Jefferson County Clerk's online land-records system (search.jeffersondeeds.com) contains deed records dating back to "August 1984," according to the Jefferson County Clerk.
According to the The Courier-Journal, Underhill Associates plans to fold the newly acquired parcel into broader redevelopment work tied to the Starks Building. Louisville Business First reported the sale and noted that the extra footprint could support amenities such as a gym or retail space that would sit shoulder to shoulder with the Starks.
Developer Says the Pieces Can Finally Click
Developer Jeff Underhill has been pitching a full makeover of the Starks for years, talking up a mix of apartments, hospitality and creative space. In May, he told WAVE3 that the latest vision would put a boutique hotel, ballroom and restaurant on the lower floors, with apartments stacked on the levels above.
The newly purchased building next door is where a lot of the supporting action could happen. Underhill said that structure could carry a spa, gym and rooftop features that connect directly into the main Starks tower, a layout he described as “coming into place now.” In other words, the shiny amenities get their own playground, and the historic high-rise does not have to absorb the more intrusive upgrades.
Why This Particular Lot Matters So Much
The Starks Building is listed on the National Register of Historic Places and was constructed in 1913, according to its nomination on file with the National Park Service. That status is great for bragging rights, but it also means the building’s historic fabric cannot be heavily altered without running into preservation headaches. The National Park Service's "Federal Historic Preservation Tax Incentives" reports track historic rehabilitation projects by state, which can document the use of historic tax credits in conversion projects, according to the National Park Service.
That is where the adjacent parcel comes in. The next-door building could house mechanical systems, amenity spaces or new retail rather than placing them inside the Starks itself, allowing some functions to be located outside the landmark and reducing the need to alter its exterior. The lot effectively becomes the utility belt that lets the historic tower keep its classic look.
Chasing a Big Price Tag With Public Help
None of this will be cheap. WDRB reported that about $18.6 million has been sought for conversion funding related to the Starks project.
The Louisville Downtown Partnership lists the proposed Starks Artist Lofts with an estimated price tag of about $177.5 million. That figure underscores just how large the financing gap is and why picking up a sizable neighboring building at modest cost is not just nice, it is strategically crucial.
A Ticking Clock For A Mostly Empty Tower
The Starks has sat largely empty since 2020, after several downtown tenants moved out, and developers say the next 12 to 18 months will determine whether they can fully line up financing and investor commitments.
Louisville Business First reports that Underhill has told partners he already has investors on board and that the coming year will decide whether the group charges ahead with construction or changes course. If the project advances, concepts floated so far include market-rate apartments, artist studios and amenity spaces woven throughout the complex.
What Has To Happen Next
Before anyone starts swinging hammers, city officials will need to sign off on public support, and the state must approve conversion funding. WDRB reports that municipal decisions on the conversion funding could come as soon as next month.
Summing up the challenge, Underhill posed the question that now hangs over one of downtown Louisville’s most visible vacant giants: how to reinvent it.
If financing, approvals and the broader market all break the right way, this low-cost buy next door could quietly turn out to be the turning point that gets the Starks Building lit up and occupied again. For the moment, it provides something earlier plans were missing entirely, a dedicated place to tuck in the essentials that can transform an aging office block into a functioning, modern anchor for downtown life.
