A new mixed-use development project is coming to Frankfort and the anchor store is Target.
The $150 million project is the largest in city and county history for Frankfort/Franklin County.
A New Shopping Experience
It is happening at the Paddocks of Frankfort off I-64 and U.S. Highway 127 at exit 53.
The 128,000-square-foot Target store will be a first in Franklin County and is expected to draw shoppers from seven neighboring counties.
“Frankfort is a special place, filled with special people, and it’s the city my family calls home,” said Governor Beshear. “This groundbreaking is a huge development for our Capital City. It will spur economic development, boost tourism and, most of all, provide a new shopping and entertainment experience for the folks that live here. One of the world’s most beloved brands, Target, is coming to Frankfort, and we appreciate Pat Madden and his team for investing here.”
An analysis by Commonwealth Economics found the project is expected to directly support 1,085 jobs and $28 million in annual wages, with another 177 jobs and $3.9 million in yearly wages indirectly supported in the area.
The development is also projected to create 1,732 construction jobs over three years.
The project is being developed by Pat Madden of Hamburg Place, along with Bret Caller and Jason Taylor of Equity-Management Group Inc.
“Target is building hundreds of new stores to reach guests with a shopping experience that’s welcoming, convenient and fun, whether they’re shopping the aisles or using same-day services,” said Madden. “We are proud to have them as an anchor at the Paddocks of Frankfort, a premier shopping, dining and commercial destination in the Capital City. My partners and I are enthusiastic about the community and excited to invest in Frankfort. We are happy to be getting started today.”
More To Come
Designs for the Paddocks of Frankfort include a complex with more than a dozen buildings ranging from shopping to dining.
40 acres of land beside the Paddocks of Frankfort are for sale and ready for development of new retail stores.
“The investment in the Paddocks of Frankfort is a great sign of growth in our passionate community,” said Mayor Layne Wilkerson. “Guests love the Target experience, and we welcome their investment in Frankfort. The city is proud to support the Paddocks and we are grateful to the development team for their investment.”
For more information about the Paddocks of Frankfort, watch the video here.
