Lexington Development News

[Ian604]

Tiffany & Co. is expanding their Lexington operation by 75 jobs dealing primarily with jewelry repair are adding a few new jobs to their existing 125 jewlery manufacturing jobs in Lexington. Lots of good economic news for Central Kentucky recently!

http://www.kentucky.com/2013/04/25/2...d-75-jobs.html

[Whosville]

Originally Posted by cartomanlex

The Jefferson St development is quite different from the Distillery District concept and both will work. What is needed in the DD is a renewal of the residential element to support the other elements being developed. It is the synergy that will make that area vibrant. Habitat for Humanity is not the answer, nor is the sole commitment to commercial.

Balance is needed, not waiting on the city to do something.

I agree with you that residential has to be part of the DD to make it work, but with rail on two sides of that neighborhood, do you think that residential (beyond Habitat for Humanity) is even possible?

[cartomanlex]

The developers of the DD are making the same erroneous assumptions as the downtown folks, that is that new commercial will attract more residents to the area. New residential units are always a part of the plan (usually left to someone else to provide) while the commercial is designed to draw from far flung reaches of the community. As I have repeated often here, historically retail has FOLLOWED the residential and not the other way around. In the subdivisions, the retail will provide what the residents(customers) want and are asking for. Does anybody see that happening here? Will anybody be willing to invest in housing units adjacent to the uses proposed here?

[lexc5812]

Here is an update on the new Kroger on Euclid with updated renderings of the building.

[lexc5812]

The transit center/movie theatre project is off, but Krikorian says they are in negotiations with another property, but doesn't want to talk about it until the deal gets done. They didn't say if the site was downtown, but Krikorian say it is better suited for their project.

[lexc5812]

Webb companies submit an application for re-approval of their centrepointe design to courthouse area design review board. I guess the big thing here is there are no changes in the design.

[Ian604]

UK approves three more dorms and purchases the campus of Lexington Theological Seminary

http://www.kentucky.com/2013/05/14/2...s-forward.html

[Whosville]

Originally Posted by Ian604

UK approves three more dorms and purchases the campus of Lexington Theological Seminary

http://www.kentucky.com/2013/05/14/2...s-forward.html

Glad to see UK pick up the Seminary. UK is starting to really grow fast and is going to need the space.

[Ian604]

Yeah the plan for now appears to be to use the seminary as overflow space but in the long run I'm sure we'll see development of the site. There are a couple of great buildings there though so I hope they're sensitive to preserving and retrofitting those rather than demolition. There's plenty of open land on the site to add development rather than razing the more unique older structures.

[Whosville]

Originally Posted by Ian604

Yeah the plan for now appears to be to use the seminary as overflow space but in the long run I'm sure we'll see development of the site. There are a couple of great buildings there though so I hope they're sensitive to preserving and retrofitting those rather than demolition. There's plenty of open land on the site to add development rather than razing the more unique older structures.

I've been over there. The buildings look lovely on the outside but need some major help on the inside. I think there are even some water problems and whatnot. Even so, I would expect UK to preserve as much of it as possible, certainly retaining that signature components such as the main building with the circle drive in front as well as the wonderful courtyard. There are some townhomes that come with the property and parking lots and I would expect those to be new places to build eventually.

My expectation for that space would be to put a premier small program (or couple) in that space. For instance, a nice combo for that space would be the Martin School of Public Policy (extremely highly ranked) and the Political Science Department (also decently ranked) which would free up space in the Office Tower for other A&S programs to grow. With both the newly expanded Business School and the (soon to be expanded) Law School across the street that would create a nice little Law/Policy/Business zone on Campus.

[cartomanlex]

CentrePointe to have some portion of it completed by 2015? What do you say to this?

http://bit.ly/12hDfqH

[lexc5812]

Originally Posted by cartomanlex

CentrePointe to have some portion of it completed by 2015? What do you say to this?

http://bit.ly/12hDfqH

I don't sense that it will be a portion considering if they were going to go that route construction probably would have already started. Plus Jeff Ruby mentions May 2015 which would indicate the entire scope of the project. I guess we can assume though the design has not changed considering the recent CADRB re-approval that had no changes. That being said I won't believe anything until something begins to rise from the ground...

[Whosville]

Originally Posted by cartomanlex

CentrePointe to have some portion of it completed by 2015? What do you say to this?

http://bit.ly/12hDfqH

As we know full well by now, it is not good to get your hopes up with Centrepointe, but I do sense that the environment is changing. Notice Dudley does not deny it in this BizLex interview: http://goo.gl/mUUHh Normally in interviews like that the last few years, he would refer to the financing component as the major barrier. Now (at least in that very short article, which might not capture the full interview) he seems to be saying that regulatory barriers are the main step before construction. A minor difference and perhaps reading too much into it, but if financing is secured then it is just a matter of time.

I just think that the environment in Lexington is really starting to roll and a major project like this now seems more possible. Just drive around the city a bit and you do get a sense that construction is picking up. The Jefferson Davis Townhomes are under full construction, the area around the Blue Stallion Brewery is redeveloping fast as a tangent to Jefferson, UK is building at a rapid pace, housing developments are rocking all over town ... just seems that Lexington is in full building/growth mode again.

The big thing that concerns me yet with Centrepointe, though, is Victorian Square. Seems the Webbs would want to get that figured out first before starting on Centrepointe.

[cartomanlex]

Originally Posted by Whosville

As we know full well by now, it is not good to get your hopes up with Centrepointe, but I do sense that the environment is changing...

Several years ago an engineer friend showed me a plat of consolidation for the CentrePointe block. There are currently approximately 20 separate parcels under various ownership names which will have to be recorded in order to allow the project to proceed. He and I were hopeful that the filing and recording process could be accomplished quickly. The plat has not been filed....yet.

Last Wednesday, the CHDRB meeting re-approved the permit for CentrePointe and the Taste of Thai building across the street and unless they revise the TIF boundary and purpose (which they may) there are fewer obstacles in their way.

Are my hope up - again, maybe but I have long been hopeful about downtown, in spite of the economic climate.

[Whosville]

Originally Posted by cartomanlex

Several years ago an engineer friend showed me a plat of consolidation for the CentrePointe block. There are currently approximately 20 separate parcels under various ownership names which will have to be recorded in order to allow the project to proceed. He and I were hopeful that the filing and recording process could be accomplished quickly. The plat has not been filed....yet.

Last Wednesday, the CHDRB meeting re-approved the permit for CentrePointe and the Taste of Thai building across the street and unless they revise the TIF boundary and purpose (which they may) there are fewer obstacles in their way.

Are my hope up - again, maybe but I have long been hopeful about downtown, in spite of the economic climate.

That was a nice post on the blog Carto ... and your sense of optimism makes me more optimistic. How great would it be if we had anything other than a pasture on that lot by the end of the year. Just parking a single bulldozer at the site would really lift Lexington's spirits for downtown.