LEXINGTON, Ky. (WKYT) - For the first time, a new set of plans are rolled out and discussed during Tuesday's LFUCG work session.
According to developer Dudley Webb, this is the third version of the project and although architectural renderings are still in the works, he says there will be a 19 story hotel with 286 rooms and 8 condos; a ten story office building; and a seven story apartment building with 96 units.
Included are retail shops and the well-known Jeff Ruby's Steakhouse.
"It's a reinvention of what we've done before," Webb said. "We had to cut back on budget. Not quite as big as the original, but still significant."
The CentrePointe project was put on hold several years ago following the death of an investor. It left a city block empty.
Webb says the state came back to amend and approve a $150 million dollar minimum in Tax Increment Funding or a three story underground parking garage providing 700 spaces.
Council woman Diana Lawless, who represents that district, says none of that money goes to the Webb Companies until the project is finished and generating tax dollars.
"I's a means by which we can build the garage. Its a reimbursement for building the garage only," Webb said.
Webb is hoping to break ground soon and have a finished project by 2015.
The council will discuss the matter again on July 25th.