Downtown Lexington Makes Room For a New Hotel:
The cityscape in downtown Lexington is rapidly changing
It all started on February 27, 2008, when the Webb Company revealed its plans to build a 40 story hotel in downtown area.
The hotel will stretch from Limestone to Upper, and will be located between Main and Vine Streets. The hotel’s construction will require the demolition of some of downtown Lexington’s most treasured nightlife hot spots, such as The Dame, Mia's, and Busters.
Retail space, restaurants, and an underground parking garage will be included in the hotel complex. The total cost for the project will be in the ballpark of 250 million dollars, or in plain terms, the most expensive building built in Lexington, KY to date. 920 on-site jobs will be created for the building’s construction.
The project’s developers plan to help subsidize the construction costs by using tax increment financing, or government funding that normally pays for public infrastructure such as sewers.
The completion date for the project is set for the 2010 World Equestrian Games, which will bring a massive influx of visitors to the Lexington area.
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