The Commons: Project Overview & Market Analysis

THECOMMONS Development Overview

Description

The Commons is a vibrant 40-acre mixed-use development that is just 1.5 miles from the heart of downtown Lexington. As a catalyst for local growth, we are dedicated to enhancing Lexington's prosperity and contributing significantly to its evolving landscape and tourism activity. With our tagline, "Uniting Life, Work, and Play," we represent the diverse and unique essence of Lexington, positioning our city as an irresistible destination that seamlessly blends working, and leisure. At The Commons, we are not just part of the city - we are helping to shape its vibrant future.

UNITING LIFE, WORK, AND PLAY

Vision

Our vision is to pioneer a vibrant, mixed-use development that truly captures the essence of Lexington, KY. By harmoniously blending the hustle of city life with the serenity of parkland, we aim to position Lexington as a distinctive destination, etching it permanently onto the map for unique and memorable experiences.

Mission

Our current mission is to attract top-quality tenants and introduce The Commons to the public. We provide a premier space for businesses seeking a vibrant and collaborative environment. We create a compelling presence that seamlessly integrates life, work, and play. Our goal is to attract the best while captivating the public with the unique experiences and opportunities we plan to offer.

A U n iq u e S p a c e

GreenSpace

We intertwine mixed-use concepts while incorporating tranquil green spaces and a walking trail in our dynamic development, creating a unique urban parkland.

LocalAuthenticity

Our team's deep roots in Lexington allow us to curate a tenant mix that genuinely resonates with the local community, enhancing authenticity.

QualityandProximity

Quality permeates all aspects of The Commons, and our strategic location near Lexington's Central Business District and I-75 offers unparalleled convenience and connectivity.

TargetTenants

We are actively seeking a mix of Tenants that enhances our vibrant development. Our ideal partners include Office Tenants drawn to our proximity and amenities, Retail Tenants poised to thrive amidst bustling foot traffic, Flex/Industrial users requiring versatile space, Restaurants delivering diverse culinary experiences, and Recreational businesses promoting an active lifestyle. We are offering Build-to-Suit options that allow unique customization. Each business will contribute to the colorful and dynamic tapestry that is The Commons. THECOMMONS

TargetAudience

Our diverse offerings cater to a wide range of audiences. These include young professionals seeking a convenient lifestyle, families in search of a vibrant and safe environment, locals longing for community interaction, and travelers on their exploration of our city's culture.

TargetAudience

Recent college grads, early career individuals

Young Professionals

Seeking an active, walkable lifestyle

Interested in networking and social events

Drawn to amenities like gyms, restaurants, bars

Parents aged 30-45 with children

Families

Looking for kid-friendly amenities

Desire a sense of community and activities

Drawn to features like parks, playgrounds, recreation

Individuals already living in Lexington

Want additional amenities close to home

Locals Visitors

Desire a "town center" feel and local businesses

Drawn to conveniences like shopping, dining, services

Business and leisure travelers

Seeking unique local experiences

Interested in entertainment, nightlife, culture

Drawn to highlights like parks, trails, public spaces

2020

The 40-acre lot was purchased by Daren Turner.

2023 PUD-3 rezone was approved from industrial to Mixed-Use.

2028 Projected completion of The Commons.

Location

4.7MILESFROMI-75

The Commons is a 40-acre mixed-use development located only a mile from downtown Lexington, KY, right off Main Street. This prime location provides easy connectivity just 4.7 miles from I-75, linking to the heart of the city, and surrounding areas. Its strategic positioning combines the convenience of city living with the space and appeal of an urban park-land.

EntertainmentVenue

The Rail is proposed to serve as the central entertainment attraction at The Commons in Lexington. Envisioned as a versatile midsized music and event venue, it aims to fill a significant gap in Lexington's existing offerings, with a flexible capacity ranging from 500 to 1,500. The intention is for The Rail to attract artists while also providing an intimate environment for performances.

THERAIL ENTERTAINMENT VENUE

EntertainmentVenue

The Entertainment Venue at The Commons aims to become a vibrant, interconnected community space amidst diverse dining, shopping, and office spaces. Expected to stimulate foot traffic and extend activity into the broader development, it aims to engage audiences in pre and post-event activities. The venue is envisioned to be adaptable and equipped with state-of-the-art sound and lighting technology, capable of hosting a variety of events, from concerts and comedy shows to e-sports and conferences. The goal is to create a venue reflecting Lexington's culture and community, potentially becoming the city's new entertainment and event heartbeat. The project warmly welcomes input and ideas to turn this vision into reality.

Renderings

OurTeam

With deep local roots, decades of combined regional development experience, strong existing partnerships across Lexington's business community and government, and a commitment to timely delivery of a one-of-a-kind mixed-use destination, The Commons team is uniquely positioned to curate, construct and operate a development that will serve as a new landmark and vibrant addition to the fabric of Lexington.

Positioned to Deliver

Our Team Members

Daren Turner

Owner/Developer

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Otis Cveticanin

Project Engineer

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Amy Mellinger

Real Estate Broker

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David Helmers

Consultant

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Melissa Horn

Property Manager

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Ryder Brown Marketing/Leasing

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Lexington MarketDynamics

Demographics

Over 20% of population aged 18-24 - prime live music

audience

Median household income over $60K in metro area

Low cost of living compared to major cities = discretionary income

Bourbon

Lexington's iconic Bourbon Trail offers huge synergistic opportunities for concepts to tap into the region's booming bourbon tourism. Lexington draws millions of visitors annually to its legendary distilleries, presenting built-in demand for complementary experiences like signature bourbon tastings, tours, and craft cocktail bars.

quine

own as the "Horse Capital of the World," Lexington's iconic equine ractions like the Kentucky Horse Park and Keeneland Race Track w millions of visitors annually, offering opportunities for mplementary hospitality concepts to provide signature horseused experiences like tours, exhibits, races, and equestrian events.

StrategicLocation

Lexington is centrally located within a day's drive for majority of US population.

Within 500 miles of major Midwest cities like Nashville, Cincinnati, St. Louis, Indianapolis

Easy access from I-75 and I-64 connects to all directions

70% of US population within 8-10 hour drive

Non-stop flights to 17 destinations including major hubs

LocalActivity

14 colleges/universities within 50 miles including UK (30K students) & Transylvania University

UK hosts major concerts and sporting events

Lexington Convention Center hosts 500+ events annually Festivals held year-round such as Railbird, Bourbon Festival, Festivals of the Bluegrass, Lexington Comic Con

MajorEmployers

University of Kentucky - over 13,000 employees

Toyota Motor Manufacturing - 8,000 employees

Amazon - over 5,000 employees

UPS - over 3,000 employees

Lockheed Martin - 1,300 employees

Lexmark International - 1,000 employees

Valvoline - 950 employees

Entertainment HubAnalysis

MusicScene

Live music venues in Lexington increased 30% over past 5 years, from 15 to 22 venues

Concert ticket sales at Lexington's 2 main venues saw 25% growth over past 3 years

Sold out shows increased from average 5 per year historically to 15 sold out shows in 2022 based on promoters

Lexington has 2.5x more concert sellouts compared to similar sized cities

Music streaming subscriptions in Lexington metro area grew 45% in 2022, far exceeding national average of 28% growth

VenueCapacity Gap

Currently only 2 small indoor music venues under 500 capacity in Lexington

Zero mid-sized venues in the 500-2,000 capacity range

The closest is Rupp Arena at 23,500 which is far too large for many touring acts

Lex misses out on booking touring acts that have outgrown small clubs but cannot fill an arena. The Lumineers, Hozier, Alabama Shakes, Lord Huron (example, not a fact)

A 1,000-person convertible concert hall at The Commons would fill this gap

o o d & B e v e r a g e S y n e r g y

Independent restaurant scene growing rapidly - openings up 30% over 5 years. Award-winning chefs like Ouita Michel of Honeywood and MichelinStar Restaurant; Granddam Craft brewery presence exploding - over 10 local breweries like West Sixth, Blue Stallion, and Alltech. Production up 50% since 2015.

Historic distilleries attract visitors - Town Branch 300k annually. Partnership potential for tastings, tours with shows.

RD1 distillery will be located inside The Commons.

Pre-show specials and shuttle service opportunities to link bars/restaurants with venue. Partnership targets include BHG, Middle Fork Kitchen Bar, County Club, Pies & Pints, West 6th Brewery.