Lexington City Council members have been briefed on the proposed master plan for business development in Coldstream Park. City leaders got details Tuesday about the light industrial-office site along with information about the city’s expected outlay of infrastructure money.
The much talked about 200 acres near the interstate is the city’s take in the land-street swap deal with the University of Kentucky. Consultant Erin Hathaway told Council about a million square feet of industrial space is expected. She said the city’s cost to get the land ready for clients will exceed $17 million. “This cost is just for the roadway, the utilities, the infrastructure, the public space amenities, the trails. Everything that’s needed to get this built to where a developer could come into a shovel ready site,” said Hathaway.
Chief Development Officer Kevin Atkins said he said he expects the city to take ownership of the 200 acres around July of next year. He noted when fully developed, between 2000 and 2500 jobs could be in place. “We’ll be taking a look at regional type headquarters. We’ll be taking a look at light manufacturing, and we’ll be taking a look at ag-tech. And those will kind of be the focal points,” explained Atkins
Atkins said he anticipates similar businesses to those found in the nearby Bluegrass Industrial Park.
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