LEXINGTON, Ky. (LEX 18) — A former Lexington staple in the center of downtown is getting a revamp. After being purchased last year, the nearly 100-thousand-square-foot building at the corner of Main and Broadway, formally known as the Festival Market, is set to undergo major changes.
A formal announcement about specific plans has not been made, but that hasn't stopped both locals and travelers from envisioning what they hope to see in the space.
Back in the 1980s, the building at 325 West Main Street opened as the "Festival Market," according to The Lexington Herald-Leader reporting at the time.
Decades later, much of the space sits empty despite its close proximity to Triangle Park, Rupp and Central Bank Center.
City property records show it was purchased around this time last year by a Texas-based real estate development company and Katie Kaufman of Card Development.
Card Development is described as a socially responsible and community-focused real estate development firm based in Lexington.
Kaufman says the Festival Market was ahead of its time.
While she can't share the specific vision, Kaufman says the hope is for walkability and to provide everyday needs for both locals and tourists in an inexpensive way with a rich experience.
That hasn't stopped the community from curiously imagining what could be next. Several people downtown on Monday said they would love a vegan restaurant, coffee shop, grocery store, and shopping.
"People who are visiting, they always ask what's there to do in Lexington downtown, but I always tell them nothing but food. There's nothing to do. Maybe draw some more tourist attention," said Heaven Goods.
Tourist Anna Oliver echoed those sentiments while looking for a true Kentucky midday experience with her friend.
"I would love to see here local Kentucky home-grown, homemade food that's reasonably priced that it would be so good and welcome that even the local Kentuckians would love to hang out here," said Oliver.
Another resident, Donny Perry, wanted a place to get food for home.
"I just like to see a grocery store downtown somewhere because it's — if you live downtown, you have to travel quite a ways to get to a grocery store," said Perry.
Kaufman says what she can share is there will be local craftsmanship, accessible restaurants, a coffee shop, and a bar.
"My partner and I invested in the property because we love Lexington and we are excited to be part of the future of downtown,” said Kaufman.
People should see demolition and scaffolding within the first quarter of 2024.
