Centrepointe, the controversial and chronically delayed development that has left a city block-size hole in the heart of downtown Lexington, remains in limbo as a city-imposed deadline to work out a new financial plan is set to pass, city officials said Wednesday evening.
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“We have no comment today concerning the Centrepointe project," said Susan Straub, the communications director for Mayor Jim Gray. "The 90-day agreement expires at .”
Reached by phone earlier Wednesday afternoon, developer Dudley Webb said neither he nor Webb Companies will be commenting.
"We're still in confidentiality agreements," Webb explained.
The Webb Companies proposed the condominium/hotel/office/retail complex back in 2008. The company knocked down several buildings to clear an entire city block, changed designed plans, claimed certain financing troubles were tied to the death of an unnamed European investor. Work seemed to stop after excavation for the project’s parking garage. And for more than a year now, two large cranes have stood mostly motionless in the fenced off construction site.
Earlier this summer, the city threatened to push Webb Cos. to refill in the pit or foreclose on the property. Shortly after that move, Webb Cos. and city officials said the developers were working to strike a deal with private investors.