City officials say plans are moving forward for a new shopping complex in Pikeville.
Pikeville Commons is set to include several name brand stores and nearly two hundred apartments. Currently, developers are working with Wal-Mart to install a road that will connect the two properties.
Officials say necessary zoning changes and negotiations have been made for the area adjacent to Texas Roadhouse.
Pikeville City Manager Donovan Blackburn says, "The city has negotiated final deal with the post office, formally approved the week before last, so we are now over that hurdle. Bound by contract we hope to close sometime either the last of July or early August."
Officials say once they have closed on the property they plan to begin construction immediately.
PIKEVILLE, Ky. (WYMT) - It has been in the works for nearly two years, but now it is at a stand still.
Plans for a new $44 million shopping complex in Pikeville could be on hold after the city learned it may not be getting nearly half a million dollars it was counting on.
Picture nearly two dozen brand name stores and nearly 200 apartments mixed in, and that is what city officials will be calling Pikeville Commons.
"They will get gas. They will do their shopping. They will create other service demands. Or they may go past the Expo Center and see what's playing that particular weekend and end up coming back, so this has a tremendous economic uptake and advantage to the community other than just the stores that's coming," said Pikeville City Manager Donovan Blackburn.
City officials say in order for the project to move forward the post office on site needs to move. Plans have it replacing the building down the street where a fire station currently is, but the city needs $400,000 to relocate that fire station.
"The first property that has to be constructed is the new post office in order for the developer to be able to tear the existing post office down to put the new boxes or new stores up," said Blackburn.
They were counting on that money to be allocated by the fiscal court, but they say the project was put at the bottom of the priority list with little hope of being funded this year.
"These dollars invested also are giving, so it's not just creating an entity that's not going to give us tax dollars in return," said Blackburn.
The city is writing a resolution to present to the fiscal court hoping to change their minds.
We were unable to reach Pike County Judge Executive Wayne T. Rutherford for comment.