The significance can’t be overstated: Bonds for the new downtown basketball arena for the University of Louisville will go up for sale in early July and close a couple of weeks later when $360 million in bonds have been claimed.
Total debt service for the project is estimated at $598.8 million over three decades. Now, those are some scary numbers, even for the most fanatical of U of L fans. Some day, however, the project will be seen as a bold, but shrewd investment in the city’s future.
This observer was one of those who favored constructing the new arena on or near the U of L campus, serving as a catalyst for further development of Belknap to include other campus facilities, including additional research buildings and dormitories for students. This will eventually occur because so many local movers and shakers want it to happen.
The U of L Arena will be the most distinctive feature of the Louisville skyline, symbolizing just how much the university means to this community.