Developers Hopeful New Condos in Downtown Paducah Could Boost Local Business
A restoration effort is underway to create new living spaces in downtown Paducah and developers are seeking tenants. Paducah Landing is building condos in the upper stories of the historic buildings on Broadway. A pre-sale event is Thursday. Project manager Jordan Hunt said renovating was risky because comparable properties haven’t been sold in the area for nearly a decade. He said the condos could provide a ‘trickle down effect’ for local businesses.
“Obviously you bring people that live there full-time, they’re going to need all sorts of commercial amenities and downtown, and I think it would really liven up the area. Give a boost to restaurants and different types of doctors offices or clinics; anything you wanted to put downtown- retail shops, gyms...things like that. ” Hunt said.
Hunt said the condos will be complete by the end of this year. The Paducah City Commission recently passed an ordinance providing grant money for renovating residential property in the upper floors of downtown buildings. However, downtown development specialist Melinda Winchester says Paducah Landing has not applied for the funding. A meeting and pre-sale event is at Hotel 1857 Thursday at 5:30.