The Paducah Board of Commissioners approved a Program Development Agreement Tuesday for a city-owned block currently used as a parking lot.
Under the 12-month agreement, Louisville-based Weyland Ventures will conduct market and financial analyses and project design for the block on Second Street and Broadway. The development project could include a hotel, open space and a mixed-use residential building.
Public parking will continue to be offered in that block. Depending on Weyland Ventures’ findings, the next step in the block’s development would be to negotiate development agreements for specific projects.
