The United States Equestrian Federation, Inc. (US Equestrian) has signed a 40-year ground lease with the Kentucky Horse Park Commission on three acres of land at the Horse Park, with an option to extend the lease for an additional 40 years at the conclusion of the initial term.
The lease allows for the construction of a two-story office building, along with surrounding parking, landscaping and signage. US Equestrian, which serves as the national governing body for equestrian sports in the nation, currently leases office space in a building owned by USA Equestrian Trust, Inc., at the Horse Park. The lease term for that space is set to expire at the end of 2019.
“As the governing body that oversees the internationally competitive United States Equestrian Team, including at the Olympic Games, US Equestrian is the anchor for many other industry-related businesses at the park. We are elated that they have made this long-term commitment with the Kentucky Horse Park,” said Don Parkinson, secretary of the Tourism, Arts and Heritage Cabinet, in a release announcing the new leasing agreement. “This long-term partnership with US Equestrian reflects and strengthens Kentucky’s dedication not only to our equine industry but also to the diverse and growing segments of horse sport.”
All permits, construction approval and funding for the construction of the new building will be paid for by US Equestrian, which expects to generate overall cost savings from its ownership of the new facilities. The Tourism, Arts, & Heritage Cabinet, which oversees the Kentucky Horse Park, and the Kentucky Horse Park Commission will review and approve the exterior design of the new building prior to construction.
“I am delighted to have reached an agreement for US Equestrian to stay in the Kentucky Horse Park in a new state-of-the-art headquarters building,” said Murray Kessler, president of US Equestrian. “This building will help us to bring the joy of horse sports to as many people as possible by providing a considerable cost savings for our members. At the same time, it will create a more efficient and effective environment for our staff to support its membership and maintain close proximity to many affiliates and US Equestrian licensed competitions.”