More action on proposed Red Mile plan

Lexington's Urban County Council approved an ordinance Thursday that established the Red Mile Development Area, allowing the developer to apply to the state for $54 million in tax-increment funding.

 

Last spring The Red Mile began the process of having the zoning of its property changed from agriculture to a commercial mix. At those meetings representatives of The Red Mile said that at the time there was no developer yet behind the project. A development plan was presented to the Urban County Council's planning committee to facilitate the zoning change request. The development plan could include restaurants, retail, and condominiums.

 

The Red Mile is located on the Broadway-Harrodsburg Rd. corridor, which now has three large parcels available for development plans. The old Turfland Mall, where there are presently free-standing restaurants (Longhorn steakhouse, Ruby Tuesdays and O'Charleys), along with a Staples and Home Depot, recently erected signs which depict the same kind of development proposed at The Red Mile. The Turfland Town Center is proposed for the 25 acres at a cost of $119 million.

 

Also on Harrodsburg Road, the old Springs motel has been razed and the site completely cleared, and that property is also listed as available for development.

 

Like virtually all of the nation, Lexington's building boom has slowed significantly, and few projects have been begun since the economic meltdown of late 2008.