Some well-known local names in business, real estate and athletics have joined the effort underway to bring a 21c Museum Hotel to Lexington.
The Louisville-based boutique hotel group announced that it has enlisted several local partners for its Lexington project, including attorney and real estate developer Brent Rice; Alltech founder and president Pearse Lyons; real estate developer Pat Madden; former University of Kentucky and NFL football player Tim Couch; Meridian Wealth Management president Greg Couch; Dixiana Farms owner Bill Shively; and businessman Ron Kirk. 21c Museum Hotels LLC remains as majority owner of the $43 million project.
“We are all passionate about Lexington’s downtown revitalization and believe that 21c will be an important catalyst for continued redevelopment in that area,” Rice said in a media release announcing the partnership. “We are also patrons and fans of 21c’s other properties and welcome the opportunity to be a part of 21c Lexington in our hometown.”
Construction is on schedule for the $43 million project, located in the National Bank Building on Main Street in downtown Lexington. The building is expected to be complete by the end of 2015. The facility will include 88 hotel rooms, 8,500 square feet of contemporary art exhibition space and a restaurant and lounge.
“Having strong local partners who also believe that art can be an economic driver for urban revitalization aids in the success of our hotels,” said Craig Greenberg, president of 21c Museum Hotels. “We all share a commitment to downtown revitalization and adaptive re-use. 21c is proud to create a public space for the citizens of Lexington to enjoy contemporary art and we look forward to collaborating with local arts organizations to create compelling and accessible cultural programming.”