UPDATE: CentrePointe project gets new investor
LEXINGTON, Ky. (WTVQ) – The long-delayed CentrePointe project in downtown Lexington has a new investor.
The Webb Companies announced Wednesday that Lexington-based Greer Companies has joined the project.
CentrePointe is a $200 million mixed‐use development project currently under construction spanning a two‐acre full city block in the heart of downtown Lexington.
The Webb Companies say when it’s finished, CentrePointe will feature a 700‐space parking garage, a 231‐room Marriott hotel, a 120‐suite Residence Inn by Marriott, a 212,000‐square foot Class A office building with three levels of elegant condominium residences atop. The complex will also include a Jeff Ruby’s Steakhouse, a coffee shop, and several local, independent restaurant concepts.
CentrePointe will also adjoin the first phase of the Town Branch Commons corridor project that fronts the development site along Vine Street as it follows the path of historic Town Branch Creek.
“We are delighted to have the Greer Companies as partner in the CentrePointe project” said Dudley Webb. “I have known Phil Greer and his family for over 50 years and we are excited to get to work with him and his team. The Greer family also lives and works here in Lexington and they share our vision for this very important project for our community.”
Greer Companies is a family‐owned hospitality and commercial real estate development company also headquartered in Lexington. Greer has developed, owned and operated over 60 full service independent and national chain restaurants, and several fine casual eateries. It is also a franchisee and operator of multiple hotel chains including Marriott, Hilton and InterContinental.
“CentrePointe is one of the most important developments in the history of Lexington and we wanted to be a part of it” said Phil Greer. “Our families have known each other for years and we are excited that we have this opportunity to work together.”
The Webb Companies says construction is expected to begin soon on the 12-story office tower with the steel set to arrive in the next 4-to-5 weeks.
Workers are currently finishing the top floor of the underground parking garage.