Downtown Lexington Partnership holds annual State of Downtown meeting

LEXINGTON, Ky. (WKYT) - The Downtown Lexington Partnership held its annual State of Downtown meeting Thursday, bringing together leaders from its roster of more than 140 local businesses.

Housing, the University of Kentucky’s growing footprint and how to keep the city’s momentum going were among the biggest topics. Lexington leaders were joined by guests from a similar college town.

Downtown growth

Business and community leaders discussed how to keep downtown’s momentum going as both downtown and UK continue to grow.

“Downtown is growing, downtown is ever-evolving, downtown is the heart of our city. And it’s something everybody has a place and a space to enjoy,” said Alan McDaniel, executive director of the Downtown Lexington Partnership.

Peer-city exchange with Madison

Downtown Lexington welcomed the head of Downtown Madison, Wisconsin, as part of a reciprocal peer-city exchange that began when Lexington leaders visited Madison last year.

Keynote speaker Jason Ilstrup, president of Downtown Madison, Inc., said both college towns face the same challenge: managing an influx of people without pricing residents out.

“It’s been a real priority of organizations like ours on the private side, the city of Madison, and the university to make sure we’re building enough housing of all types for our residents to help keep rent down,” Ilstrup said.

Ilstrup called major projects such as Gatton Park and Rupp Arena “magnets” that draw crowds into the city center. He said it is a model Madison wants to emulate.

Investment and UK expansion

According to the 2026 State of Downtown report, Lexington’s project pipeline has surged past $5 billion in investments since 2015. The report said UK, nonprofits and private development have driven that growth.

As UK enrollment climbs and healthcare expands, state capital planning reports show UK has authorized hundreds of millions of dollars more for land acquisition and student housing.

“The futures of the city of Lexington and the University of Kentucky are inextricably linked. We are bound together. If we’re strong in the future, we think Lexington will be strong in the future,” said Jay Blanton, a UK spokesperson.

Leaders said planning is key to the city’s success.