Built in the 1880s with 48 rooms, a Louisville mansion later helped inspire the Speed Art Museum; nearly 140 years later, it is for sale for $1.95 million
A Louisville landmark is back on the market, giving potential buyers a chance to own a sprawling mansion tied to one of the city’s most important cultural institutions. The Speed Mansion, a 48-room home at 505 W. Ormsby Ave. in Old Louisville, sports a $1.95 million listing price, states an online report by WDRB + WAVE website. The three-story property has been used primarily as office and educational space in recent years, but its next chapter could be very different, adds the news report. The mansion, built in the 1880s, was originally owned by Louisville homebuilder Dexter Belknap, Some eight years after its construction, businessman, philanthropist and art collector James Breckinridge J.B. Speed bought the property. peed and his wife, Hattie Bishop Speed, would leave a legacy linking the home to Louisville’s arts community. Hattie Bishop Speed was a concert pianist and music instructor. After her husband’s death she remained at the mansion, adding a recital hall to the back of the property in 1916. The addition reflected the wider artistic interests of the couple, and helped to turn the mansion into a center of cultural and educational activity.
A legacy that lives outside the Mansion
The strongest link to the property occurred in 1925 when Hattie Bishop Speed founded the J.B. Speed Memorial Museum in memory of her husband. The institution eventually became the one of Louisville’s best-known cultural institutions. What began as a memorial to J.B. Speed has become a major art museum, with a collection and public presence far exceeding the original mansion. The Speed Mansion itself changed through the years. More recently, it was used by the Kentucky College of Art + Design as an office and educational space. The college has since relocated to a larger campus on Garvin Place in Old Louisville, making the historic property available for a new owner.
New possibilities for a historic house
The mansion’s next incarnation could be far removed from its recent life. The listing agent said in the WDRB + WAVE exclusive report that the property could be redeveloped into apartments or converted into a boutique hotel, giving developers a chance to re-purpose the historic building, while maintaining its ties to Louisville’s past. There is plenty of scope for possibilities with 48 rooms and three stories, but any redevelopment would have to take the historic nature of the property into account.
Back on the market
The mansion last sold in 2018 for $1.5 million, according to public records in Jefferson County, Louisville Business First reports. The home, now listed at $1.95 million, is again drawing interest as both a real estate opportunity and a rare piece of Louisville history. At almost 140 years old, the Speed Mansion is a reminder of how private homes can become places with a much wider cultural legacy.Image Courtesy: Sotheby’s
