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Downtown Living

AT HOME

Downtown loft | Photo by Shaun Ring

Cost is yet another positive point when choosing downtown Lexington. As stated by Holoubek, “As far as market pricing, downtown Lexington is undervalued. It is very reasonable in comparison to other downtowns. And very reasonable in comparison to the suburbs.” He goes in to explain that in most cities, the price per square foot for downtown versus suburban living is double. However, in Lexington, that 2:1 ratio is much lower with there being only a nominal difference in some neighborhoods. Among current downtown housing options are the Nunn Lofts, 505 W Main Street, Park Plaza, Centre City and Center Court Condos, to name a few. With all of these advantages it is no wonder that, in Sweeney’s words, “There is a very strong demand for downtown living.” Luckily, developers are stepping up to meet the demand. According to Sweeney, “There are 80 million dollars of new residential projects in the pipeline that include affordable housing renovations, new student housing developments, new market rate apartment developments, and new townhomes, midrise and high-rise condominiums, all totaling 850 new residential units.”

Lexington’s Real Estate Company has several exciting projects in the works, including a mixed-use project with 15,000 square feet of retail and 50 residential apartments on Main & Vine. Similar buildings located on Midland Avenue and Third Street, and owned by Community Ventures, will provide hundreds of residential apartments, plus much needed East End retail, dining and office space. Of course, the completion of City Center Complex, housing a Marriott Hotel, Residence Inn and a Jeff Ruby’s Steakhouse, along with renovation of the Lexington Civic Center will garner a wealth of new business, tourism and opportunities. “We are really looking forward to the opening of City Center, the new theater at Broadway and High and the Town Branch Trail and Park. We think they will be big attractions, and they will add to the city life,” states Phillips. In closing, Sweeney says, “We have a great downtown that is only getting better. In the next four to five years, there are several projects in the works that will be transform it and take it to the next level. So, it is a great time to be thinking about moving downtown.”

May 2019 | TOPSinLex.com

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Profile for TOPS Magazine

Tops in Lexington - May 2019  

Who's Who, What's New and What to Do in Lexington, Kentucky

Tops in Lexington - May 2019  

Who's Who, What's New and What to Do in Lexington, Kentucky