LEXINGTON, Ky. (WKYT) - The 17-acre parking lot that sits across the street from Rupp Arena could look much different in the coming years.
Several proposals have been submitted to the Lexington Center to develop the parking lot.
WKYT has learned one developer, Grand Slam Development, has proposed turning the High Street lot into a mixed-use development. This would include a new baseball stadium that would be home to the Lexington Legends.
Grand Slam Development did not immediately return WKYT’s request for comment Thursday. Lexington Legends President & CEO, Andy Shea said he is excited about the proposed development.
“Literally since the first week that I’ve moved here, I’ve had people say 'Oh man, I wish it was downtown or I can’t believe it’s not downtown',” Shea said.
Shea says this would create up to $25-30 million of added economic impact to the city.
“The vibrancy that it would create and allow and enhance in downtown would just be absolutely fascinating. I mean when you pair that with Thursday Night Live, when you pair that with the Convention Center, when you pair that with all of the bars, restaurants, Emporium, everything that’s downtown it would just add so much to what’s going on," Shea said.
Grand Slam Development’s proposal is priced at $200 million, according to the Herald Leader. The project also includes a hotel, three parking garages and mixed-use development with retail stores on the first floors and residential units on the upper floors, according to the Herald Leader.
Some of the mixed-use buildings would look directly into the stadium.
“I think that’s part of the idea. I mean whether you’re at Wrigley Field in Chicago or you’re at Fluor Filed, the home of The Greenville Drive in Greenville, South Carolina- those apartments that look down on it are so fun and amazing,” Shea said.
The Herald Leaders reports that other proposals were submitted by: Langley Properties, the Webb Companies, Stark Enterprises of Cleveland and Flaherty & Collins Properties of Indianapolis.
The other proposals have not been publicly released.
Lexington Center CEO Bill Owen says he is unable to confirm or deny the recently released proposal plans. Owen said it is too early to comment on the specifics of the proposals.