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Developers Abandon Plans for Louisville Skyscraper

By Associated Press

LOUISVILLE, Ky. – Developers who had proposed building a futuristic skyscraper in downtown Louisville known as "Museum Plaza" are scrapping the idea due to financial concerns.

A letter making the announcement was to be sent Monday to Kentucky Gov. Steve Beshear and Louisville Mayor Greg Fischer, according to The Courier-Journal. It was signed by the development team of Laura Lee Brown, Steve Wilson, Craig Greenberg and Steve Poe.

The letter said the team pursued several financing options, but was unsuccessful in putting together a viable package due to the "challenging lending market." It advised the state to withdraw an application it made to U.S. Department of Housing and Urban Development for a loan.