A new development is likely coming to a long-vacant tract on Martin Luther King Jr. Boulevard, as the Frankfort City Commission heard the first reading Monday of an ordinance changing the site’s zoning designation to accommodate a senior living community.
Last month, the Frankfort-Franklin County Planning Commission unanimously approved the zoning change for the 26-acre tract to “Limited Commercial District” (CL). The land is northwest of the intersection of Martin Luther King Jr. Boulevard and the East-West Connector.
The change would allow a senior living facility to be built at the site, which is now largely undeveloped. Prior to the zoning change, only a small corner portion of the lot was zoned for commercial use while the rest was zoned residential.
The property is owned by Prescient Frankfort 1 LLC, and the latest proposal for the development includes a 120-unit senior living facility with the potential for expansion. Total indoor area of the project is slated to total over 100,000 square feet. A portion of the complex is set to take up two floors, while some will remain single-floor.
There is also potential for future development of the site, per preliminary plans.
A first reading of the ordinance was read at Monday night’s city commission meeting, with no commissioner speaking against the development.
Proclivity Senior Living, a development company tied to the project, completed the proposal. Founder Stephen Bolt was present at both the planning commission’s January meeting and the city commission’s meeting on Monday. Bolt is also the founder and president of Prescient Frankfort 1.
Bolt said it would be a $34 million “senior community project.” He also projected construction to begin in the fourth quarter of 2021.
The Proclivity project webpage for the Frankfort development says the company completed a market study that showed the need for such a facility.
The population of the United States in general is aging, according to the U.S. Census Bureau.
At the recommendation of city development staff, members of the Frankfort-Franklin County Planning Commission passed the zoning change with the stipulation that the company return to the commission with its development plan once complete.
Though planning staff, in a report to the planning commission, noted that the development does not exactly fit the Comprehensive Plan's future land use map, they still found its impact to be positive.
"Development of this facility would appear to have a positive economic impact on the community," the report read. "... The proposed use will promote the stability, preservation and vitality of the existing immediately adjacent uses as well as fit the character of the surrounding neighborhood."
Organizers listed for Prescient Frankfort 1 are Bolt, Troy Williams, Jimmy Bevins, Michael Smithson and Steve Hall.
Smithson and Hall are both local health care professionals. Bevins is an entrepreneur and former chairman of Kentucky Department of Fish and Wildlife.