On May 3, 2007, construction began on a new electrical substation for Downtown Louisville. The previous substation, located on the block of River Road, Main, 2nd and 3rd Streets, was relocated across the street at 3rd and River Road. The new substation, projected to cost $63 million, was completed in October 2008, at which time the land that housed the old substation was transferred to the Louisville Arena Authority for construction of the new arena. Work started on the new arena in November 2008. The complex was officially completed on October 10, 2010.