City of Florence, KY 2018 2nd Quarter Development Update

Our Administrative team works hand-in-hand with our elected officials to enhance and improve our relationship with our residential and business community. This document provides just a snapshot of the City of Florence’s Economic Development efforts and successes. They are meant to help keep you informed on news and developments that relate specifically to you.

These electronic updates will be sent quarterly. Be sure to watch for information on recently completed projects, business updates, new developments, and much more!

If you have any questions or need any help with city issues, please do not hesitate to contact my office. My door is always open!

Yours Truly,

Diane E. Whalen Mayor

FLORENCE, KENTUCKY City Contact Information

DEMOGRAPHIC PROFILE

Focus Properties

Joshua Hunt

Deb McCarty

Director, Business & Community Development

Community Projects Administrator

The City of Florence continues to have very low vacancy rates throughout our retail district.

8100 Ewing Boulevard Florence, Kentucky 41042

8100 Ewing Boulevard Florence, Kentucky 41042

For more information about active retail vacancies, please call the city contacts listed to the left.

859.991.0718 mobile

859.647.5411 fax

City Information

Demographics

The City of Florence has established itself as a premier location for businesses and a comfortable and safe community for its residents.

More than 2,500 businesses - from start-ups, to successful advanced manufacturing, to healthcare, to corporate headquarters, to retail have all chosen to establish a presence in Florence.

commerce and one of the largest employment markets in the Cincinnati/Northern Kentucky region.

Peer Analysis

There’s a lot of potential here.

Average Age

Median Household Income

38.2

Growth Rate

$51,766

8.93% 32,199

Population

Peer Trade Areas Elizabethtown, KY Bowling Green, KY New Bern, NC Charlotte, NC Hampton, VA Gastonia, NC

3 Mile Radius

5 Mile Radius

2016 Estimated Population Daytime Population Median HH Income Number of Households

6,891 18,575 $50,130 2,851

61,939 81,858 $55,634 24,634

131,578 162,841 $59,735 49,631

3 Minute DT

5 Minute DT

10 Minute DT

651 7,064 $53,795 257

10,751 32,399 $51,766 4,262

97,472 148,354 $56,555 38,552

2016 Estimated Population Daytime Population Median HH Income Number of Households

The Peer Analysis, built by Retail Strategies along with our analytics partner (Tetrad), Peer Analysis is derived from a 5 or 10 minute drive time from major comparable retail corridors throughout the country. The variables used are population, income, daytime population, market supply and gross leasable area. The following are retail areas that most resemble this core city:

DEMOGRAPHIC PROFILE 1 Mile Radius

Children at Home

709

Retired/Disable persons

1,725

Homemakers

1,324

Student Populations

4,554

Work at Home

196

Employed

23,642

Unemployed

249

*Source: STI PopStats

1631 Ring Road 160 American Ave 3410 Dr Martin Luther King Jr Blvd 8830 Albemarle Road 5001 Holt Avenue 425 Cox Road

Focus Categories The top categories for focused growth in the municipality are pulled from a combination of leakage reports, peer analysis, retail trends and real estate intuition.

Although these are the top categories, The city’s efforts are inclusive beyond

Apparel

Restaurants

Entertainment

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Sporting Goods

Florence, KY

Mel Carroll Council Member

Duane Froelicher Council Member

J. Kelly Huff Council Member

Dr. Julie MetzgerAubuchon, O.D. Vice Mayor

David A. Osborne Council Member

Gary Winn Council Member

Diane E. Whalen Mayor

Staybridge Suites

D.B. Schenker

3255 Ted Bushelman Boulevard  2.8 acre development site;  72,965 sq. ft., 5-story tall;  89 rooms;  Construction is underway, anticipated completion is Spring 2019.

2505 Ted Bushelman Boulevard  D.B. Schenker, one of the worlds largest logistics companies, will be occupying this building;  Construction of the 550,000 sq. ft. building; will be completed in July 2018.

CVG Site 6B 5101 Renegade Way  21 acre development site;  177,000 sq.ft. building will be completed in Fall 2018;  Two to three tenants will occupy this building.

Wayfair 5101 Renegade Way  Wayfair will be occupying a portion of the CVG site 6B building located off of Ted Bushelman Blvd and Renegade Way.  Planned opening is Fall 2018.

Menards

Five Below

5000 Apex Lane  17 acre development site;  Construction started July 2018, anticipated opening Spring 2019.

7665 Mall Road  New to the market chain;  Discount store that sells products that cost up to $5;  Planned opening Summer 2018.

Zoup 7753 Mall Road  New to the market restaurant;  Offers fresh soup, salad and sandwiches;  Planned opening Fall 2018.

Becoming Mom Spa & Ultrasound 7715 Mall Road  New spa that specializes in providing therapeutic spa services and ultrasounds for expectant mothers;  Planned opening Fall 2018.

Dominion Senior Living

Noah’s Arc Animal Clinic

Seligman Drive  4.1 acre development site;

7025 Burlington Pike  New to the market chain;  Complete remodel of the 5,775 sq. ft. building;  Project scheduled to be completed Fall 2018.

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60 unit (84 beds) assisted living facility; Project scheduled to be completed Fall 2018.

Evergreen Apartments

French Quarter Phase 4

Evergreen Drive 3.3 acre development site; Project will consist of 10 apartment building units;  Rough grading and utility installation is underway.

Orleans North Subdivision  6 acre development site;  Approximately 50 residential homes to be constructed over the next two years.

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Villages of Florence Senior Apartments Hopeful Church Road  33 acre development site;  177 ranch style age restricted homes planned;  Road and utility work is currently taking place with a tentative completion date of Summer 2018.

Keller Williams Realty Office 7210 Turfway Road  Former Florence Medical Center getting a complete renovation;  Keller Williams Realty will use this building as their new commercial headquarters;  Planned opening Fall 2018.

Villages of Weaver Senior Apartments Weaver Road  9.2 acre development site;  56 ranch style age restricted homes planned  Planned opening Spring 2019;  Utilities being installed, building to start soon.

Florence Veterinary Hospital 7801 US 42  Former 4,000 sq. ft. optometrist office is being converted to a state of the art veterinary hospital;  Planned opening Summer 2018.

Verizon Wireless Retail Store 8741 US 42  .54 acre development site;  Stand alone building currently under construction with a late Fall 2018 planned opening date.

Tru Hotel Vandercar Way  3.57 acre development site;  4-story, 45,000 sq ft. hotel;  Construction has started, footers and block work is underway.

Fairfield Inn & Suites Merchant Street  3.7 acre development site;  50,635 Sq., Ft, 4 –story hotel;  91 rooms ;  Construction is underway.  Anticipated completion is Spring 2019.

Hilton Remodel

UBREAKIFIX

7373 Turfway Road  Hilton Hotel recently completed a multi-million dollar remodel, completely refreshing their rooms, lobby, meeting spaces and restaurant.

1035 Vandercar Drive  New to the market chain that repairs smart phones, computers and gaming consoles;  Opened May 2018.

Dicarlos

Victory Lane Oil Change

7120 Dixie Highway  New to the market restaurant that opened its first Kentucky location;  Serves pizza, calzones and desserts;  Opened June 2018.

8511 US Hilton 42  New to the market chain that offers full services oil changes, drive train service and battery replacements;  Opened June 2018.

Glow Golf

Stride Rite

Florence Mall

Florence Mall  New to the market chain that sells children's footwear;  Opened February 8, 2018.

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Glowgolf features a giant 36-hole miniature golf course, a Laser Maze Challenge attraction and an area for birthday parties and group events. Guests can play up to 54 holes with their admission.

Breakers Grill

NKY Health Department

8147 Mall Road

8001 Veterans Memorial Drive  4.0 acre development site;  Construction is ongoing;  Opened March 2018.

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New to the market restaurant and bar for billiards enthusiasts and food lovers alike. Featuring 15 Diamond pool tables, a full service bar and excellent menu.

Turfway Race Track

Holiday Inn Express

Turfway Blvd.

25 million dollar capital investment; Project will consist of structural repairs, facade upgrades, parking lot improvements, and a complete remodel of the second floor.

Vandercar Way  2.1 acre development site;  56,000 sq. ft. , 45’ 4” tall ;  93 rooms;  Construction will start Spring 2018.

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Weaver Road Subdivision 900 Block of Weaver Road  2.92 acre development site;  Plans are currently going through the major site plan review process;  Developer is proposing to build 11 single family homes.

TownePlace Suites Turfway Road  2.85 development site;  65,716 sq. ft., 4 –story tall;  101 unit hotel room;  Construction will start Summer 2018.