$21 million project underway in Paducah, KY

PADUCAH, Ky. (KBSI) – The vision for Paducah’s city block project is to improve a block of the city’s downtown.

Weyland Ventures, a partner with the city of Paducah, attended the city commissioner’s meeting on Sept. 13, where Moriah Gratz, the CEO of Weyland Ventures, gave an update for the project saying,

“Being true to what’s already there, and helping existing businesses that are in the area, grow and prosper along with what we’re, what we’re doing with our revitalization efforts,” said Gratz.

Along with Weyland Ventures, a local construction company was chosen for the building of the project.

“Ray Black and Son is a local construction company, and is going to do the work on the public portion of the project,” said Paducah Mayor George Bray.

Public amenities is the responsibility of the City of Paducah.

A private investor is to thank for the funding, with a more than $21 million investment.

“Paducah currently holds in the neighborhood of around $100 million in investing in different projects around the city, so this is an example of the confidence that a private investor shows in our city,” Mayor Bray said.

Otherwise known as the heart of Paducah, the city block will get a new 81 room hotel with a rooftop lounge.

With the current structure of the parking lot, the urgency to have new pavement is immediate.

The restructuring will bring in better and more accessible parking allowing for easier flowing traffic in the area.

“We believe it will bring new people, new energy,” said Mayor Bray. “We already are seeing increased development down there, as a result of people knowing this is going to come in.”

Bray says the project will honor the history of the town and heritage it brings with the restoration of buildings in the area. He says connecting residents and people in the area and outside of it is vital to its economic growth.

Categories: News