Developer Mo Deljoo to break ground on NuLu Marketplace North

One of the NuLu neighborhood’s most popular destinations is getting a new addition.

Mo Deljoo, local developer and managing director of Noveen Consulting, is working to break ground on NuLu Marketplace Phase II, which he expects to cost between $10 million to $15 million to construct.

The new development, which is called NuLu Marketplace North, will be three-stories and up to 66,000 square feet, he said, with restaurants, retail and entertainment on the first level; offices and short-term rentals on the upper floors; and a rooftop bar.

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NuLu Marketplace to expand, add new building along Main Street. Here’s what to expect:

NuLu Marketplace, home to a collection of businesses on East Market and East Main streets, is set to expand.

Local developer Mo Deljoo is planning to build a new three-story, 66,000-square-foot building that would be home to retail, restaurants and other offerings.

The expansion would include the new building along Main Street, just to the west of the current NuLu Marketplace, as well as a “revitalization” of Billy Goat Strut Alley, Deljoo said.

The first floor will include restaurants and entertainment with office space and short-term rentals above. A rooftop bar is also a possibility, Deljoo said.

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‘It’s aggressive, but we’ve done it before’: NuLu Marketplace expanding, adding a 66,000 square-foot building

The NuLu Marketplace is expanding, adding another huge investment into the booming neighborhood.

Louisville Developer Mo Deljoo is opening NuLu Marketplace North, a three-story 66,000 square-foot building that will sit on a plot of land situated between Market and Main Streets.

Deljoo bought the land two years ago for $2.3 million.

“Louisville is becoming a major tourist city and we have a lot of tourists that come and stay; Louisville is a destination point,” he said. “More and more every day we feel there are so many more companies and businesses and everyone else looking at NuLu as a destination point.”

NuLu Marketplace North will be a replicate of the already existing marketplace, with restaurants, bars, and shops on the first floor and office spaces and Airbnb-style rentals on the top two floors.

Deljoo said the marketplace wants to maintain fun for everyone, balancing family-friendly spaces with nightlife venues. He said they have already approached tenants they believe will be a good fit in the new space.

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Louisville developer plans expansion of NuLu Marketplace with restaurants, office space on Main Street

Nearly three years ago, NuLu Marketplace opened between Market and Main streets in Louisville, a hidden courtyard surrounded by bars, restaurants and shops. Now, a developer plans to expand the project and build a 66,000-square-foot office and entertainment complex on a vacant lot along Main Street.

Mo Deljoo, the developer of NuLu Marketplace, purchased the lot at Main and Shelby streets two years ago for $2.3 million. It’s less than 1 acre in total, and he’s since been offered nearly $5 million for it. Instead, Deljoo is moving forward with Phase 2 of the project, to be called NuLu Marketplace North.

“When this vacant land became available, we knew we that we had to have control of this land and look at the future and how we’re going to grow that,” he said Tuesday. “We thought ‘Why don’t we just continue what we started?’ We got success with it, and that is what the community really likes.”

Deljoo didn’t want to add to NuLu’s density with a multi-story hotel. Instead, NuLu Marketplace North it will be a three-story, mixed-use building that will have surface parking, retail and restaurants on the ground level, along with a few offices and an Airbnb feel for larger groups to stay together.

“At the beginning everybody had doubts about if a new concept like this would make it,” Deljoo said. “And we have been fortunate enough the neighborhood really liked the idea, and it’s been a very successful project so far.”

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NuLu Marketplace to expand along Main Street

NuLu Marketplace — a 47,000-sqft mixed-use hub for restaurants, shops, and more — is set to expand, adding an adjoining three-story building to the property.

Noveen Holdings, LLC is behind the move. The expansion will be located on a vacant lot behind the NuLu Marketplace between Billy Goat Strut Alley and Main Street — and next door to Quills Coffee.

Mo Deljoo, Managing Director at Noveen, said that the plans include first floor retail, restaurant, and entertainment space, as well as a potential rooftop bar. The other floors will include offices and short-term rental properties.

Revitalization of the Billy Goat Strut Alley are also included in the plans, but details are still to come.

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Prominent Developer Acquires Land in NuLu

A prominent NuLu developer has his sights set on another project.

NuLu Commons North LLC, owned by Mo Deljoo, local developer and managing director of Noveen Consulting, recently acquired a 0.79-acre vacant lot on Main Street for $2.3 million. The site spans 808 to 814 E. Main St. in NuLu.

Tyler Smith, managing partner of CORE Real Estate, represented the buyer in the transaction. He said he’s continuing to work with Deljoo to determine the highest and best use for the site, acknowledging many offices, retailers and restaurants want to move to the growing area of town. The group plans to utilize an opportunity zone fund for the project.

“The planning, design and architectural process has started and we’re working on this new exciting project every day,” Smith said in an email. “We know many office, retailers and restaurants want this prime location on Main Street in the thriving NuLu district and we have hopes to deliver another award-winning development.”

Deljoo is the developer responsible for NuLu Marketplace, located in the 53,000-square-foot commercial building at 817-826 and 828 E. Market St.That space is 100% leased, and the businesses that are currently open at NuLu Marketplace include: West Sixth NuLu, Emmy Squared Pizza, Buff City Soap, The Dog Shop, The Local Seltzery, The Craftery, Hectare’s, Mamili and Hazel+Hunt.

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