To build roads and install streetlights, curbs and sidewalks for a new 200-acre industrial park would cost between $17.3 million and $17.9 million, according to a new Lexington master planunveiled Tuesday.
The city is in the process of acquiring the Coldstream Park off Georgetown Road near Interstate 64 and Interstate 75 from the University of Kentucky for a new industrial and business park.
As part of a land swap with the city, UK agreed to turn over the 200 acres; the land is currently a research farm. In return, the city gave UK control of 13 streets in and around the university. The 2017 deal was announced the day before the Lexington-Fayette Urban County Council was set to vote on the 2018 Comprehensive Plan.
The deal provided the city with a large amount of potential shovel-ready property to lure new businesses and create new jobs while keeping its current growth boundary.
The property will not be turned over by UK until about July 2022, city officials said Tuesday. UK had to move a dairy research program that was on the property.
Read the entire article at the Lexington Herald Leader
