Mason Miller, an attorney representing the city of Lexington, says CentrePointe developers have hammered out an agreement with a third party that could take the delayed project off pause.
In a statement Friday, Miller said the Webb Cos. "have reached an agreement in principle with a third party to develop the project. We will follow up over the course of the following week with further details.”
The announcement comes about 48 hours past a deadline set by the city for the developer to negotiate with a still-anonymous investor. Following a round of legal wrangling in April, the city had set a 90-day window for the Webb Cos. to chart a path forward for the $250 million dollar development, which has yet to advance beyond excavation for an underground parking garage.
Plans for the combination hotel, office, and retail space were announced back in 2008.
