The University of Kentucky purchased the Coliseum Plaza at the corner of Rose Street and Avenue of Champions.
The Board of Trustees voted on the purchase Feb. 20, purchasing the plaza for about $3.9 million, according to FCR 8.
(Sean Dreher)
The property, owned by Greer Companies, is home to Bangkok House, El Mariachi Mexican Restaurant & Cantina, Tropical Smoothie Cafe and Coliseum Liquors.
El Mariachi Mexican Restaurant & Cantina posted on its Instagram story, “Don’t worry, we have at least two more years, maybe even longer. We will see.”
The deal does not include the building next door that is occupied by Papa John’s and Qdoba, according to the Board of Trustees’ agenda.
According to the approval to inquire, “the parcel will be used for future development projects in the area.”
UK spokesperson Jay Blanton said the purchase creates a potential zone for exciting development near campus for the future.
“Such developments will benefit both our campus and the broader Lexington community, and we are excited about taking the time now to envision what this zone can be in the future,” Blanton said.
The university did not say what the area will be used for.
According to FCR 9, UK is also purchasing 1008 South Broadway, at the corner of South Broadway and Virginia Avenue, for about $1.4 million.
