Welcome to The Closing Bell. This is your last stop for biz scoops and big news before the weekend — a roundup of stories that can’t wait till Monday.
Nancy’s Bagel Grounds slated to reopen Monday
At 7:30 Monday morning, Nancy’s Bagel Grounds will be slicing, toasting and serving its signature bagels in the Irish Hill neighborhood.
Way back in September, Insider Louisville broke the news that the popular breakfast and lunch spot would move from its longtime home on Frankfort Avenue in the Clifton neighborhood to a new space at 225 S. Spring St., the former Willingers Beer Depot.
The building needed quite a bit of renovation. During the wait, Louisvillians didn’t have to go without bagels. Nancy’s opened a pop-up shop on Main Street for about two months, and of course, Nancy’s Bagel Box on South Fourth Street has remained open the whole time. The pop-up store closed May 31, and Nancy’s Bagel Grounds’ owners told fans to keep an eye out for the new location to open soon.
Large self-storage facility opening in St. Matthews
The new 130,000-square-foot Citadel Self Storage in St. Matthews will be the first in Louisville designated state-of-the-art wine storage, according to the facility’s owner.
The Citadel Self Storage facility, located at 1403 Browns Lane, is three floors and has 990 various-size units available for short-term or long-term rentals. The facility is 100 percent indoor temperature and humidity controlled, and each unit has its own PIN for user access that is tied to an individual alarm, the owner says.
“The self-storage industry has taken off,” said Allen Schubert, the developer of the property. “This unique and interesting facility takes the trend to a new level.”
According to a 2017 Bloomberg story, the self-storage business was a more than $32.7 billion industry in 2016. It has continued to grow from there.
Citadel Self Storage will host a grand opening at 5:30 p.m. on June 28 with wine from local restaurant Cuvée Wine Table. The restaurant’s owner Scott Harper, a master sommelier, helped design the wine-storage area. —Caitlin Bowling
Louisville’s homicide arrest rate higher than average among 50 cities
The Washington Post published an investigation this week highlighting the homicide arrest rate over the past decade among the 50 largest cities, showing that while Louisville’s rate is better than average, there are sections of the city’s West End that have both a high number of killings and a low rate of arrests.
Among all 50 cities over the past decade, only 49 percent of homicides have led to an arrest, though 55 percent of Louisville’s 576 criminal homicides over an eight-year period have arrests. Louisville’s arrest rate is nearly identical to regional cities like Indianapolis and Cincinnati.
Louisville’s murders have been clustered in the mostly African-American West End, and while certain pockets of this area have seen high arrest rates — with at least two in three homicides leading to an arrest — three areas spanning the neighborhoods of Shawnee, Chickasaw and Parkland are highlighted as having both a large number of murders and an arrest rate of less than one per three homicides.
The study also showed that 70 percent of homicides with a white victim in Louisville have led to an arrest, while slightly less than half of homicides where the victim is a racial minority has an arrest.
Maj. Todd Kessinger, who oversees LMPD’s Major Crimes Division, told Insider in a statement that many factors go into why certain cases remain unsolved, “including lack of witnesses willing to provide information or lack of evidence from the scene.”
“LMPD works hard to establish relationships with the community so that when a homicide occurs people are willing to come forward with information,” Kessinger stated. “However, sometimes people are fearful of retaliation or unwilling to get involved in certain types of homicides, especially if they stem from other criminal activity.”
The full interactive map from The Washington Post, which includes the location and information from each homicide — such as the name, race and gender of the victim, along with the date and whether or not there was an arrest – can be viewed here. —Joe Sonka
Local blogger discusses her rise to internet fame
Grace Wainwright spoke at Venture Connectors on Wednesday about her path from bioengineer to blogger and social media influencer. She was studying bioengineering at the Speed School of Engineering at University of Louisville when she started a blog, ASouthernDrawl.com, about fashion, travel and fitness. She has more than 175,000 followers on Instagram.
While in school, she started earning money from her side business and decided she wanted to take it to a full-time gig. She was surprised to find her parents were supportive of her plan and even gave her some seed money. But they encouraged her to stay in school so that she would still have bioengineering in case she needed it. Now she’s a blogger with a master’s degree in engineering, she says with a laugh.
She told the audience how she monetized her website and Instagram, which includes ad revenue, commissions on sales and clicks. She explained the different apps and programs she uses, including ShopStyle, RewardStyle and Liketoknowit. She also noted the importance of including casual, everyday moments in her Instagram and Instagram stories because it helps followers see her as a friend. Her fiancé shoots video of her during her workouts, and she joked she’s the only person at her gym wearing full makeup.
Venture Connectors’ July meeting will be 6-8:30 p.m. at Angel’s Envy Distillery, 500 E. Main St. It’s free for members and $20 for visitors, with $10 distillery tours. Registration is required. —Lisa Hornung
Who’s been funded?
At this month’s Venture Connectors luncheon, Lisa Bajorinas of Greater Louisville Inc. announced the list of companies that had been recently funded.
On the list were:
- Inscope, a company that invented a new, easier way to intubate patients. Inscope won the pitch contest at the Rise of the Rest bus tour last month, which gave the company a $100,000 investment.
- WeatherCheck, a company that helps customers know when to file a homeowner’s insurance claim after a storm. The company got $200,000 in funding from Yloft.
- Switcher, a video production app, got $300,000 follow-on of a $700,000 equity round from local investors and funds.
Bajorinas said that’s a total of 15 companies funded in 2018, with more than $14 million invested in local startups. She also reported that since January there are now eight Million Dollar Babies, which are companies that have seen more than $1 million in investment capital. —Lisa Hornung
Norton Commons building open-air market
Work is expected to wrap up in mid-July on North Village Market, an open-air market concept at 6301 Moonseed St. in Norton Commons.
The market, located near the amphitheater, will be 12,000 square feet and feature six “retail cottages,” according to a news release from Norton Commons. Retailers BLU Boutique, Rabbit in the Moon and Spark Boutique have all signed agreements to open shops there; it will be the second location for BLU Boutique and Rabbit in the Moon.
“It’s been an overwhelming response just through a little word of mouth,” Charles Osborn III, managing director of Norton Commons, said in the release. “I’m glad we have the flexibility to add a few more cottages if needed. We’re excited about farmers markets, musical performances and some great pop-up stores.”
The market was inspired by a similar amenity at a community in Seaside, Fla., shown above.
In addition to the North Village Market, Norton Commons previously announced plans to construct a 2.5-acre ridgetop recreational area, a zero-entry, lagoon-style pool and splash park, a playground, walking trails and a football field-sized civic space and green in its North Village. —Caitlin Bowling
Former UofL Foundation CFO was not overpaid, foundation says
A third-party study has been amended to say former University of Louisville Foundation CFO Jason Tomlinson was not excessively compensated, the foundation said Wednesday.
Last week, the foundation officially acknowledged the findings of a Korn Ferry study into overcompensation of five past UofL and foundation officials. Together, the five received over $3.9 million over six years, the study found.
Wednesday, the foundation said it asked the firm to update the report to show Tomlinson never received deferred compensation. The adjustment took Tomlinson off the list of former officials who had been overpaid, the foundation said in a statement.
The study initially said Tomlinson was only overpaid by just over $2,000 during his tenure. In comparison, former president James Ramsey made over $3 million in excess compensation, the study found. —Olivia Krauth
Two new Allegiant flights now leaving Louisville
This week, Allegiant flights out of Louisville include two new, previously announced destinations.
Travelers can now get to Myrtle Beach, S.C., on one of Allegiant’s twice-weekly seasonal flights offered Wednesdays and Sundays through mid-August. The lowest one-way flight price listed on the airline’s website as of Thursday afternoon was $41.50.
Those looking to go farther south this summer also can now book flights for Jacksonville, Fla. Flights leave Louisville on Mondays and Fridays from now through mid-August. The lowest price listed for a one-way flight as of Thursday afternoon was $36.50.
“Louisville travelers have welcomed us as a part of their community, and we’re proud to continue to grow there and provide more ultra-low-cost vacation options,” Drew Wells, vice president of revenue and planning for Allegiant, said in a statement. —Caitlin Bowling
The chief executive of Nazareth Home, Mary Haynes, has been chosen as ElderServe’s 2018 recipient of the Champion for the Aging Award. It’s set to be presented during a luncheon Friday at the Seelbach Hotel. The award recognizes outstanding commitment to improving the lives of older adults.
Papa John’s International this week handed Kentucky Derby Festival officials a $10,000 check, money it raised through the sale of pizzas at its Southern Indiana and Louisville locations to help pay for Thunder Over Louisville.