Downtown
The Inquirer building on Third Street is now home to Simply Chic. Many businesses are migrating downtown during the redevelopment.
Small and large businesses are choosing downtown By Joy Campbell
“This summer when the new park opened, I knew I had made the right choice,” said Gayla Martin, owner of Coldstone Creamery at 5140 Frederica St. Martin is talking about her decision to open a satellite shop in downtown Owensboro. In the last two years, local developers, financial institutions and young entrepreneurs have chosen downtown as the location for their businesses — making the investment early in the transformation of the city’s core. These investors say they seized a good business opportunity, and they want to be a part of the rebuilding taking place with public and private investments that includes a new destination riverfront park, convention center and hotels, improved city streets and sidewalks, historic building preservation and downtown living opportunities. “Overall, I think downtown will be a tremendous asset. I know a lot of people are on the fence about locating there since it will be two more years before some of the projects are done,” Martin said. “But that said, we’re going in at the early stage with a good
12
location. We’ll go from there.” An estimated 20,000 people attended the city’s new Smothers Park grand opening over three summer days. Martin will operate her new shop from her Coldstone Creamery Frederica Street business. She will have a partner in the leased space at 101 W. Second St. when Lisa Haynes opens a second store for her Cup Cakery business. Haynes started Cup Cakery in Williamsburg Square in 2010. Two financial institutions also have chosen downtown for major investments. First Security Bank chose Owensboro for its corporate headquarters and has pumped in $6.5 million to transform the building at 313 Frederica St. into a showcase facility. And Fifth Third Bank is well under way with its $1 million construction of a brand new building at Fifth and Frederica streets. “We are big supporters and fans of all the downtown markets we serve, and our management and board believe that a strong downtown helps to develop the economic viability of a community,” said Lynn Cooper, president and CEO of First Security Bank. First Security was founded in Owensboro. Evansville, Bowling Green and others O W E N S B O R O
2 0 1 3
courted First Security when the bank was considering the spot for its corporate offices, Cooper said. “It was a big decision for us — whether to choose Owensboro or another city. At the end of the day, we wanted to do whatever we could to contribute and help to support downtown Owensboro — not just in words but in actions,” he said. “We’re pleased to be in downtown Owensboro.” Last spring, Capone’s, an Italian restaurant at 222 Allen St., and Simply Chic, a home accents shop at 101A W. Third St. opened downtown. Both owners said they were fulfilling their dreams of owning their own businesses. Other new establishments made their downtown location choices on the cusp of the revitalization, including Bee Bops, a ‘50s-style diner; Gambrinus Libation Emporium, an upscale bar; and “C-ing” Polkadots, a gallery boutique — all debuting in 2010.
Downtown plan on track
A conservative estimate for downtown Owensboro’s private investments since 2009 is “just shy of $90 million,” according to Joe Berry, Owensboro’s downtown proj-