LEXINGTON – The Lexington City Council approved a plan to redevelop an area in the southwestern part of the city. Known as the Southwest First Addition.
Lexington City Manager Joe Pepplich said this project has been a long time coming.
“It’s been about ten years in the works,” Pepplich said, “now it’s go time.”
The $36 million redevelopment will feature 280 units. Including apartments, duplexes and single family homes.
Pepplich told the council that they are not suspecting that the addition will put additional stress on the school.
“We don’t believe this will be a population growth project,” Pepplich said. “We hope that it will spread people out and give residents that are living in sub-standard housing a chance for a better place to live.”
Private development has not kept up with housing needs according to Peplich. He hopes that this project will spur on some private investment also.
It will also increase the city’s tax roles as currently there is zero taxable income from the property.
In other business, the city council agreed to annex the Beans Second Addition west of the Opportunity Center. The council also approved the purchase of property at 611 South Adams in order to redevelop the area. The city will use Economic Development Program funds to pay $61,380 for the Adams Street property.