Lexington, KY - Downtown Development
2009: This year may one day be seen as the year in which Lexington's downtown began to rise from the rubble of CentrePointe.
The development itself was transformed from construction detritus and mud pit to a grassy field, protected by horse-farm fences and security cameras.
In other parts of downtown, the city transformed Cheapside, a one-block street, into a public space and made plans to build a pavilion there for the Lexington Farmers Market and other public events. In the Distillery District, Barry McNees obtained tax increment financing for the project, and the city approved $2.2 million in bonds to design streetscapes and sidewalks there, giving his project the potential to transform a long-neglected segment of downtown into an entertainment destination with clubs, restaurants, a bourbon museum and galleries. In addition, George Krikorian announced a $70 million project to bring movie theaters and a bowling alley to Angliana Avenue, where tobacco warehouses once dominated.
2010: As the city polishes its looks for the Alltech FEI World Equestrian Games, 2010 will be the year of finishing touches and groundbreakings. The Cheapside Pavilion will open with the Lexington Farmers Market in April. The Lyric Theater and Cultural Arts Center will open in summer, transforming a once-blighted corridor on Lexington's East End. A citizens group has formed to raise money for the educational center that will honor African-American heritage and celebrate other cultures as well. And, should Krikorian's plan receive tax increment financing, that project could be started as early as fall.
"By this time next year, downtown will have a whole new appearance," predicted Harold Tate, president of the Downtown Development Authority. As for CentrePointe, the Webb Companies declined to comment for this story; in a recent public statement, Dudley Webb said he was "still not sure when the project will begin."