Lexington Center Seeking to Redevelop Parking Lot Near Rupp

Lexington Center seeks developers for parking lot near Rupp Arena

by Beth Musgrave, 10.04.16, Kentucky.com

Potential developers of the nearly 20-acre Rupp Arena High Street parking lot have until late November to submit their proposals.

Lexington Center Corp. released its request for qualifications for developers this week.Money from the ground lease of the High Street lot could be used to pay for a $250 million renovation of the attached convention center. Lexington Center oversees Rupp, the convention center and retail and restaurant space.

Lexington Center will offer potential developers a long-term lease, according to a news release. Lexington Center will not invest in the project or be guarantor for any private financing. Proposals must also address replacement parking — such as a parking garage — for the convention center, Rupp Arena and attached Hyatt Regency Hotel.

Interested developers must show what they want to build and must demonstrate a successful track record of financing and building a similar development, according to the release. The Lexington Center board agreed in late September to issue the request for proposals to determine if there was interest…Read more at Kentucky.com

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