Downtown Redevelopment - City Block Project and TIF

Groundbreaking Ceremony

The groundbreaking ceremony for the City Block project was held January 27, 2023.  Kentucky Governor Andy Beshear, the City of Paducah, and Weyland Ventures along with approximately 250 attendees celebrated the launch of this transformative project for historic downtown Paducah.  

Groundbreaking Ceremony News Release


Construction UpdatesConstruction Map

Limited Access to Block

Construction for City Block's public amenities (linear promenades, green space, and parking areas) began the week of January 30, 2023. The construction requires the closure of a majority of the block; however, the gazebo and a public parking area are open along the Broadway section of the site. Since construction began in January, the dilapidated parking lot has been demolished and the site graded and prepared with the installation of various utilities. The majority of the public facilities portion of the project is projected to be completed this fall. Public amenities include linear promenades, lighting, green space, and approximately 175 parking spaces.

History of the 100 Block of Broadway

In the following River Revelations video produced by Paducah 2 through the administration and facilities of West Kentucky Community & Technical College, learn about the history of the 100 block of Broadway including the businesses that at one time graced the block, the plans for the block that never came to fruition, and how it became a parking lot with potential.

Our Economic Tool - Tax Increment Financing District (TIF)

Tax increment finance is a financing and development tool that permits local governments to capture future increases in property and other taxes generated by new development within a specified development area. In Kentucky, taxes collected by the State also are eligible to be directed back to the city, which is a completely new revenue source for the city.  The captured value of the increase in tax revenues is used to finance public improvements and to attract private development projects.  Eligible public expenditures include parks and open space, public parking, transportation and pedestrian improvements, and environmental remediation on historic properties. To learn more about TIF Districts in Kentucky, read the Kentucky League of Cities TIF Explanation.

Paducah's Tax Increment Financing (TIF) Frequently Asked Questions

March 2019 - The City of Paducah and McCracken County passed a resolution and executed an agreement to establish the area’s first Tax Increment Finance District (TIF).
August 2019 - Paducah received Preliminary Approval by the Kentucky Economic Development Finance Authority (KEDFA) for Paducah’s Downtown Riverfront TIF District.
March 2021 - Paducah received Final Approval by KEDFA.  News Release - Final Approval of Paducah's TIF

Please watch the 2-minute video below to learn the structure of Paducah's TIF and the benefits.

City Block Project Vision - A $24 Million Public/Private Investment

Note:  Images on this page are concepts for illustrative purposes only.

The City Block Development Project is Paducah’s first major private development project within the Downtown Riverfront TIF District.  

Focusing on the growth of Paducah, the City Block Project will bring a new, 3-acre multi-use development to Downtown Paducah. It creates a new Downtown destination that catalyzes economic growth, supports our creative industries and tourism sector, provides more housing options for our changing population, connects Downtown to nearby landmarks, and facilitates the completion of Paducah’s Riverfront Park.

The Vision

To advance transformative projects that improve Paducah’s quality of life and move our city, county, and region forward.

To create places and spaces that attract people of all ages and strengthen our local and state economy.

To unlock the untapped potential of Paducah’s riverfront for recreation, hospitality, and commerce.

To honor our history and heritage through the ongoing restoration and preservation of our beautiful historic Downtown.

To ensure that future growth complements and reinforces that which came before.

To connect people and places together for a stronger, more resilient Paducah.

The Concept

The City-owned site is a 2.88-acre parcel located in Downtown Paducah that is bounded by Broadway, 2nd Street, Jefferson, and Water Streets. City Block, also known as the gazebo lot, is at the heart of Paducah. It's where people meet. It's our foundation. As such, high standards are demanded by our Development Program Goals and Design Features.

  •  Connectivity  Design Space to Visually and Physically Connect Historic Downtown, Existing Arts and Cultural Landmarks, and Paducah’s Riverfront
  •  Town Square  Create a Vibrant and Multi-Functional Downtown Destination That Encourages People to Gather, Spend Time, and Support Local Businesses.
  •  Vibrancy  Create Vibrant Streets and Sidewalks that Are Friendly, Welcoming, and Safe for People
  •  Strength  Strengthen Public Use of the Corner of 2nd and Broadway
  •  Rhythm  Re-Establish the Historic Rhythm of Buildings along Broadway and Jefferson
  •  Parking  Maintain off-street parking, and design parking lot to be flexible for public events, festivals, outdoor markets, etc.

City Block Milestones

City Block Frequently Asked Questions

This City Block Project Frequently Asked Questions document summarizes several of the community's top questions and answers.  


Development Partner

Paducah has a special partner - one that truly embraces the word partner and has proven integrity. That partner must bring fresh, cutting-edge ideas that have become our tradition.  But that partner must listen to the community and respect the historical context of our home. Weyland Ventures is a multi-disciplinary real estate development firm known for creating unique mixed-use properties in urban areas across the nation. Considered experts in the use of historic tax credits, new market credits, and other layered financing methods, the company is able to tackle tough projects that typically wouldn’t be considered viable to other firms. Weyland Ventures’ projects incorporate residential, commercial, retail, and entertainment venues that often create new and vibrant neighborhoods while preserving the community’s unique heritage. Notable projects include Whiskey Row Lofts and the Slugger Museum and Factory in Louisville and Owensboro Downtown and Riverfront Revitalization. 

City Block Reports and Documents

Preliminary Development Agreement
Phase I Environmental Site Assessment
Phase II Environmental Site Investigation
Geotechnical Analysis Report
Parking Assessment
Real Estate Appraisal
Executed Development Agreement
Letter of Commitment from City to Weyland Ventures for City Block Public Facilities
Weyland Ventures Extension Request
City of Paducah Extension Response Letter
City Block Commitments Completion Letter (Dated February 22, 2022)

Latest Information - Notice to Proceed and Updated Timeline

2023 - City Block Update (October 25, 2023)

Weyland Ventures has informed the City of Paducah that due to construction market conditions, the downtown hotel portion of the City Block project is delayed. The first phase of the City Block project included reenergizing the downtown Paducah block bounded by Second Street, Broadway, Water Street, and Jefferson through the rehabilitation of the public parking lot with green space and new parking and the construction of an 81-room boutique hotel along Jefferson Street with restaurant space and a roof-top bar. The newly laid parking area is on schedule to be completed shortly with contractor, Ray Black & Son, finishing the landscaping and lighting on the project. However, the hotel project is delayed. Full News Release

2023 - City Block Update (July 12, 2023)

Mayor George Bray updated the Board on the City Block Project. Contractor, Ray Black & Son is moving forward with the parking and public amenities on the site. This is the downtown block bounded by Broadway, Water Street, Jefferson, and North 2nd Street. The expectation is that the parking and public amenities could open to the public in late September to early October. Mayor Bray said Weyland Ventures is working with the hotel contractor and hopes to start construction on the hotel foundation later this summer. The contractor has been working through foundation construction decisions and a difficulty in securing subcontractors. Mayor Bray reiterated that the project is moving forward and that these types of issues are common with construction projects of this size.

2023 - City Block Construction Update (April 25, 2023)

A City Block Project update was given at the April 25, 2023, City Commission Meeting. Site preparation began in late January following the groundbreaking celebration for this transformative project. This project, a partnership between the City of Paducah and Weyland Ventures, will reenergize the downtown Paducah block bounded by Second Street, Broadway, Water Street, and Jefferson. Contractor Ray Black & Son has been working on the public amenities portion of the project with recent work to demolish the former parking lot and grade the property. Work will begin soon on underground utilities and stormwater amenities. During the summer, Ray Black & Son will complete site concrete, sidewalks, landscaping, paving and striping, and lighting. The parking lot and public amenities are expected to open to the public in late summer with the goal of opening by BBQ on the River. The parking lot will have approximately 175 parking spaces.

Also this summer, a separate contractor will begin constructing the foundation for the 81-room hotel on Jefferson Street. The hotel construction is scheduled to be finished in the fall of 2024. Then, after the interior finishes are completed, there will be a grand opening in 2025. The second phase of the project is a mixed-use facility on Broadway to include residential, commercial, and retail space. Construction on the second phase is expected to begin next spring with completion in 2025.

2023 - Groundbreaking for City Block Project (January 27, 2023)

The groundbreaking ceremony for the City Block project was held January 27, 2023. Kentucky Governor Andy Beshear, the City of Paducah, and Weyland Ventures along with approximately 250 attendees celebrated the launch of this transformative project for historic downtown Paducah.  

Groundbreaking Ceremony News Release

2022 - Updated Concepts and Timeline to Start Hotel Construction (September 13, 2022)

Weyland Ventures CEO Mariah Gratz updated the Paducah Board of Commissioners at its September 13, 2022, meeting on the City Block project and showed the latest site plan and concept images. The first phases for this transformative project for downtown Paducah involves the construction of an 81-room, five-story boutique hotel along Jefferson Street, a large public parking area, greenspace, gathering spaces, and pedestrian friendly corridors in the center of the block. The hotel will include two restaurants and retail space on the first floor with a rooftop bar. Weyland is in conversations with local restauranteurs. Later in 2023, there are plans to break ground on a three-story, residential building along Broadway with 70 market-rate units ranging from studio to two-bedroom apartments. The building will include some commercial space. Weyland’s goal is to minimize holiday shopping disruption for downtown and plans to break ground on the construction in January 2023. Hotel construction will take approximately 16 months.  

2022 - Notice to Proceed for Construction of Public Facilities (June 28, 2022)

The City approved on June 28, 2022, the Notice to Proceed for the City Block Project. Weyland Ventures received (opened April 5, 2022) one responsive bid for the project with Ray Black & Son, Inc., submitting the $3,444,336.00 bid for the public facilities phase of the project. This first phase includes the demolition of the existing parking area, grading and site preparation, and public facilities improvements.  

How it Got Started - Development Agreement and Listening Session

Pre-Development Agreement (Completed)

In April 2019, the City of Paducah entered into a 12-month preliminary development agreement with Weyland Ventures to undertake planning, design, and development for a 3-acre mixed use development on an existing municipal parking lot in Downtown Paducah at the corner of 2nd and Broadway (City Block). As part of this agreement, Weyland Ventures is obligated to create to Development Program that prioritizes a hotel, off-street public parking, public open space, and one or more mixed-use buildings on the City Block site. The City is responsible for undertaking site due diligence work, including environmental review, geotechnical analysis, utility assessment, and a parking assessment.

  • Conceptual Drawings of the City Block Development
  • Phase 1 Environmental Review and Phase 2 Site Investigation Work 
  • Geotechnical Analysis
  • Market and Feasibility Analysis
  • Utility Assessment
  • Parking Assessment

Development Agreement Between City and Weyland Ventures (Requirements Completed)

The Development Agreement between City and Weyland Ventures Development, LLC was approved August 12, 2020. There was a presentation about the project at the July 28, 2020, meeting.

Video of July 28, 2020, Meeting (City Block starts at 36 minutes into meeting)
City Block Slide Presentation from July 28, 2020
Highlights from August 12, 2020 Meeting

The City Block project, a $21 million private investment, includes the development of a hotel, parking, open space, and a mixed-use residential building located on the 2.88-acre city-owned block bounded by Second Street, Broadway, North Water Street, and Jefferson Street.  Under this development agreement, the project is divided into two construction phases.  The city-owned block is divided into three tracts with Weyland purchasing the two smaller tracts (Tract 1 and Tract 3).  The middle tract (Tract 2) is the largest which will remain under city ownership for parking and open space. 

Phase 1 - The first phase includes Weyland purchasing Tract 1 for $141,000 for the construction of a 4 ½ story 81 room boutique hotel along Jefferson Street.  The City reviewed the design of the hotel to ensure the design fits the fabric of the historic downtown.  Also, during this first phase, Weyland will provide improvements to Tract 2 (the middle tract) to create green space, open space, and parking with the final site plan depicting more than 150 parking spaces.  At this time, this parking lot offers 213 spaces.  The City will retain ownership of Tract 2 and will reimburse Weyland for the development expenses.   

Phase 2 - The second phase of this development is the construction of a mixed-use commercial/residential building along Broadway on Tract 3.  Weyland will purchase Tract 3 for $155,000 and invest a minimum of $9 million into this phase.  Phase 2 could include approximately 18,000 square feet in commercial space with up to 48 upper-story residential units.

Listening Session for Design of Public Spaces in City Block Project (Completed November 2020)

The community provided input regarding the public spaces outlined in the City Block Project.  This private investment of approximately $21 million in Paducah’s downtown by Weyland Ventures includes a multi-use development on the parcel bounded by Broadway, 2nd Street, Jefferson Street, and Water Street.  The center of the parcel would be designed as a Town Square which includes off-street public parking, new green space, and a promenade.  A boutique hotel is planned for the section facing Jefferson Street with a mixed-use development facing Broadway. 

A listening session for the public spaces was held November 9, 2020, with more than four dozen community participants.  The video is provided below (1 hour 23 minutes).  

Discussion Questions/Topics for City Block Town Square Listening Session