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Owensboro to buy riverfront parcels for about $4.2 million to spur downtown redevelopment
Summary
The commission approved Municipal Order 39‑2024 to acquire properties at 102 and 118 Veterans Boulevard for roughly $4.2 million (reimbursing owner Jaygo Holmes for costs) and said the city will solicit developer proposals for a signature downtown project near Smothers Park.
The Owensboro Board of Commissioners voted Dec. 17 to authorize the purchase of two riverfront parcels at 102 and 118 Veterans Boulevard and Allen Street for downtown redevelopment.
City Manager Nate Pagan said the properties, owned by Jaygo Holmes, will be sold to the city at cost to reimburse acquisition and demolition expenses, which he stated as $4,200,000. Pagan described the site as about half a block of frontage adjacent to Smothers Park and said the city expects to work with the Economic Development Corporation to solicit proposals from developers rather than hold the site long term.
Commissioners asked practical questions about existing parking and an adjacent narrow parcel not included in the purchase; Pagan said staff has expressed interest in acquiring that additional piece later to square the site and make redevelopment easier. Members indicated they expected significant developer interest for a riverfront signature project.
The commission approved the municipal order by voice vote. The city manager said the purchase price is intended to reimburse documented costs and that staff will coordinate next steps with the Economic Development Corporation.
No tenant names or finalized development plans were disclosed during the meeting; the city said potential tenants would be announced when appropriate.
