May 2025
The Lexington, KY market is gaining growing national recognition, driven by its accelerating economic development and strong future potential.
Greater Lexington Shines in Site Selection Rankings
What This Means For You: Greater Lexington has secured a place in Site Selection magazine’s annual Top Metros report, ranking fifth per capita and tying for ninth overall in top metros with populations between 200,000 and 1,000,000, with 25 economic development projects. This recognition highlights the region’s robust economic development and its appeal to businesses seeking expansion opportunities.
Lexington Places on Top 10 Emerging Multifamily Markets of 2025
What This Means For You: Lexington has been identified as one of the Top 10 Emerging Multifamily Markets of 2025. Notably, it was among the few metros where occupancy rates increased, reflecting strong demand and a healthy rental market.
Lexington Planning Commission Approves Delaware Avenue Mixed-Use Development
What This Means For You: The Lexington Planning Commission unanimously approved the development plan for The Railyard, a $6 million mixed-use infill project. This initiative aims to revitalize a vacant lot at 1000 Delaware Avenue, transforming the underutilized industrial area into a thriving residential and entrepreneurial hub within the evolving neighborhood. The groundbreaking is scheduled for summer 2025 and project completion is expected within approximately 12 months.
Second New Kroger Marketplace proposed for North Side of Lexington
What This Means For You: Plans have been filed for a second Kroger Marketplace on Lexington’s north side. The proposed 127,000-square-foot store aims to enhance grocery options for residents and reflects ongoing retail growth in the area.
Lexington Drug Manufacturer Expands, Opens New Facility
What This Means For You: Kindeva, a drug manufacturer which was started through research birthed at the University of Kentucky in 2009, officially opened an expanded location in Lexington Thursday, enabling the company to up production of its nasal sprays. The company currently has more than 150 employees.
