Frequently Asked Questions (FAQ)
What brand will the hotel be?
While the hotel is yet to be named, we are exploring a possible partnership with a very nice four star hotel.
When will the project be completed?
If the project starts with demolition this fall it could be completed within 24 months.
How will the project be financed?
It will be financed with a combination of debt and equity as well as TIF proceeds.
How will CentrePointe change the downtown landscape and skyline?
Dramatically, it will change Lexington's skyline for many years to come. For more details, visit our Renderings page.
What will a typical hotel room cost?
It is anticipated that the quoted room rate will be $175 per night.
What's the expected price range for a residence at CentrePointe?
Approximately $450 per square foot for a finished unit before furnishings, etc.
Does downtown Lexington really need another hotel, more condos and more office space?
Yes, the development team has many years of experience in commercial real estate development and both they and the hotelier have commissioned several feasibility studies that indicate very real demand for each component part of the project.
In addition, The Lexington Center and the Commonwealth of Kentucky recently completed a $50 million renovation and expansion of the Lexington Convention Center and there is a clear demand for more hotel rooms so that the center can attract larger conventions which dramatically impact the economic climate downtown and for our region. Without another hotel the center is underutilized. An added attraction for hotel guests will be that the hotel will be a "green" hotel.
Will it be the tallest building in Lexington?
Yes, but will only be slightly taller than the Lexington Financial Center.
What happens to the business that are on the future site of CenterPointe?
The businesses have all closed and are either ending their business or relocating to other downtown locations selected by their owners.
Curious what the CentrePointe project will look like, see our Renderings.
