Lexington, KY - Downtown Lexington Partnership (DLP) and Downtown Lexington Management District (DLMD) hosted their joint State of Downtown, presented by Republic Bank on June 23, at LexLive, which was attended by about 150 people.
The program went into detail about why downtown is positioned for a strong rebound from the pandemic, as well as gave guests the opportunity to interact with an expert panel and to network with community leaders and real estate and economic development professionals.
Steve Kelly, Chair of the DLP Board, said, “In May we hosted our Annual Meeting where DLP and DLMD presented the programs and services that our organizations provide to develop, manage and market downtown. Today at the State of Downtown presentation we presented benchmarks documenting the health of downtown and how our programs and services are impacting its health.”
The report showed that while downtown, like most other markets, was negatively affected by the pandemic, there are clear signs of recovery that project a positive outlook moving forward.
Terry Sweeney, President and CEO of DLP, said, “In whole, the set of data in the 2020 State of Downtown Report shows that downtown was significantly affected by the pandemic but is well positioned to rebound. In fact, there are signs that recovery is already in progress, based on businesses’ responses to a DLP survey which showed a return toward normalcy, expectations for higher sales and plans for hiring new staff over the next 12 months. “
One of the key areas of downtown, the Downtown Lexington Management District, also displayed signs of growth even during a difficult year.
Jim Frazier, Chair of the DLMD Board, said, “Many of the new businesses opened in 2020 are located within the Downtown Lexington Management District. They are attracted by the clean and safe sidewalks where our ambassadors provide more than 11,000 hours of enhanced cleaning and safety services each year. They are also attracted by the thousands of dollars in the property improvement and lighting grants we award annually. Our programs and services not only attract new business, but also have provided a high return on investment to property owners as seen in increasing property evaluations and a vibrant street-level mix.”
To read the full State of Downtown Report, visit our website www.downtownlex.com. For questions, please reach out to DLP’s Marketing & Event Coordinator, Harrison Stiles at Harrison@downtownlex.com. To view and download the State of Downtown Report, click the link below to visit our website.
About DLP and DLMD
The Downtown Lexington Partnership (DLP) is the non-profit umbrella Downtown organization formed in 2017 to provide a single point of contact and accountability and a coordinated approach to Downtown revitalization and management. DLP encourages responsible economic development, produces events, addresses issues on behalf of stakeholders, and promotes downtown Lexington. DLP has over 350 members and produced many events for the public including Central Bank Thursday Night Live, Mayfest Arts Fair, and more. DLP manages the programs and services of the Downtown Lexington Management District (DLMD) on behalf of its board of directors.
The Downtown Lexington Management District (DLMD) is a property-assessed business improvement district created in 2015 to enhance and manage downtown’s physical environment and to foster economic development and Downtown revitalization by:
• Providing enhanced cleaning services to create a foundation for business development.
• Providing enhanced safety resources to address worker, visitor, and resident safety.
• Supporting public art initiatives.
• Allocating resources for economic development programs that support property owners/businesses and for marketing Downtown to developers and business prospects.