The MET Development, Inc.

Lexington,
KY
(2019)

The MET Development, Inc.

Affordable Housing, Community, FQHCs, Grocery and Fresh Food, Healthcare, Housing, Mixed-use, Retail, Retail and Commercial

Construction of two buildings on Midland Avenue and East Third Street, in the East End neighborhood of Lexington, Kentucky.

Investment

NMTC Amount: $10,500,000
Total Project Cost: $23,305,840

IMPACT

140 FTE jobs
91 construction jobs
2,000 patients served
Project includes a Federally Qualified Health Center.
70,000 sq. ft. of real estate

CDEs

Community Hospitality Healthcare Services, USBCDE

Investor

US Bank

Project Description

Community Ventures is financing the construction of two buildings on Midland Avenue and East Third Street, in the East End neighborhood of Lexington, Kentucky. The mixed-use development known as “The MET”, will consist of more than 30,000 sq. ft. of commercial and retail space, including a Federally Qualified Health Center, a grocery store, rooftop event space, and 40,000 sq. ft. for 44 residential units with 13 rent restricted for low-income individuals. The Project is the first phase of what is anticipated to be a catalytic effort to revitalize and remove blight from the East End area.

MAP

Address: 576 East Third Street + 576 East 3rd Street, Lexington, KY 40508

Census Tract: 21067000101

Other Kentucky Projects

The MET Development 2

Lexington,
KY
(2020)

Community, FQHCs, Grocery and Fresh Food, Healthcare, Mixed-use, Retail, Retail and Commercial

CDE(s): Community Hospitality Healthcare Services, USBCDE

Financing for a much-needed medical clinic and grocery store.

Main Street Rehab Project

Hindman,
KY
(2020)

Community, Mixed-use

CDE(s): National Community Investment Fund

This NMTC project rehabilitates seven properties along Main Street, primarily the old jail building in Knott, into a climate-controlled bus waiting area to allow for expanded transportation options. It also

C & S Machine & Manufacturing Corporation

Louisville,
KY
(2020)

Business Development, Manufacturing

CDE(s): WesBanco

Funding for the purchase and installation of new equipment to serve a new client in a growing business.

Grace Community Health Center

Corbin,
KY
(2021)

Behavioral Health, Community, FQHCs

CDE(s): Capital One, Community Health Center Capital Fund, Local Initiatives Support Corporation

The project will renovate an existing single floor 84,194 sq. ft. former K-Mart building.