Developer discusses CentrePointe's future

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Dudley Webb gave an update Thursday on when construction may start for the controversial CentrePointe project in downtown Lexington to members of the Lexington Forum.

The business group listened intently and even asked questions of Webb about the progress. For the firsttime, Webb mentioned that if his several sets of investors back out, he'll turn the city block into a green space for the Alltech 2010 World Equestrian Games.

A block of historic buildings was torn down last year to make way for the skyscraper, but construction never started.

Webb has blamed the delay on the death of a major investor.

During the breakfast meeting, Webb explained that the un-named european investor's estate is close to being finalized and the family would still like to back the CentrePointe project. He says he's got another investor lined up, calling that "Plan B." He describes Plan B as an investor who also has a pending project with the un-named investor's estate. Webb says he doesn't have a firm timeline and hasn't said how quickly hs crews will bulldoze and plant on the city block.

"I made the statement to the council that basically, our planis to see where we are in the next 60 to 90 days. And then go ahead and make a decision about whether or not we improve the lot in some fashion, to make it useable or presentable during the World Equestrian Games."

Webb says he's confident there will be an active construction site during the games. The plans still call for the $250-million building to have 35 stories and a hotel.

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