LEXINGTON CENTER CORPORATION ANNOUNCES REQUEST FOR PROPOSALS FOR DEVELOPMENT OF A HIGH STREET PROPERTY
The Lexington Center Corporation (LCC) announced today that it will accept proposals to qualify a developer(s) to develop property in the heart of downtown Lexington.
The specific site location of the High Street Development Project is currently utilized as a large surface parking lot located directly across High Street from the newly expanded Central Bank Center (CBC) and renovated Rupp Arena and is generally bordered by Lexington Center Drive, Maxwell Street and High Street. The site is approximately 17.5 contiguous acres.
This project, planned to build out a site assembled in the 1970’s into an urban environment with greater density and higher utilization, has long been considered in the downtown long range planning process. Proposed development should support Central Bank Center activities, especially parking, but also add opportunities to contribute to a more vibrant downtown.
It most recently was envisioned in 2012 as part of the proposed Rupp Arena Arts & Entertainment District. A Request for Qualifications from prospective developers issued in 2016 was suspended pending an application to the Kentucky Economic Development Finance Authority for a tax increment finance district or TIF that was granted in late 2019.
Detailed information about responding to this HS-Project RFP can be found at www.centralbankcenter.com/rfp