Lexington
Policy Goals For Properties Outlined
Lexington City Council unanimously passed a resolution to articulate its policy objectives for developing cityowned parcels of land on Spotswood Drive and Waddell Street.
The goal in developing the land is to increase tax revenue for the city, and to increase density within the city. The city is considering turning the property over to the city’s Economic Development Authority to pursue potential development opportunities.
Previously, the city had contracted with Echelon to develop both properties. Echelon had presented plans for apartment buildings on both properties, but ultimately terminated the contracts in late 2024 as the price of materials for the proposed developments was too high for the projects to move forward.
