Phoenix Hill is a neighborhood of Louisville, Kentucky just east of Downtown. Its boundaries are Market Street to the North, Preston Street to the West, Broadway to the South, and Baxter Avenue to the East. The Phoenix Hill neighborhood, settled before 1850 by German immigrants, is now a rich tapestry of people and a diverse mix of business, industry …Phoenix Hill is a neighborhood of Louisville, Kentucky just east of Downtown. Its boundaries are Market Street to the North, Preston Street to the West, Broadway to the South, and Baxter Avenue to the East. The Phoenix Hill neighborhood, settled before 1850 by German immigrants, is now a rich tapestry of people and a diverse mix of business, industry and residences.