A grocery selling food, beverages and sundries will open in May at 233 East Main Street, at the corner of Esplanade.
Plans for Town Branch Market were announced Tuesday by businessman Howard Stovall.
"We're going to try to have the basics for people who work downtown," he said.
Customers may pick up salads, milk, fruit and microwave meals. There will be fresh-brewed coffee, plus pastries, doughnuts and bread made by Lexington bakeries. "We're going to try, whenever we can, to get products from local suppliers," Stovall said.
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The market also will stock health and beauty aids, and basic office supplies.
"We're not trying to compete with Kroger," Stovall said. But the selection will more closely mirror a standard grocery than a convenience store, he said.
Stovall owns Signs Now at 365 Southland Drive and is a partner in Kentucky Theatre Management Group, which manages The Kentucky Theatre, across the street from the planned market.
Market hours will be 7 a.m. to 6 p.m. Monday through Friday but will be adjusted when there are special events downtown, Stovall said.
"Our end of Main Street needs a grocery store," said Gene Williams, an owner of Natasha's Bistro & Bar at 112 Esplanade. "We need more neighbors like this in our block. Retail businesses thrive on foot traffic."
The building that houses Natasha's, Town Branch Market and several other businesses is scheduled to be sold April 11 at a master commissioner sale to raise $2.5 million owed to PBI Bank and the Urban County Government.
Building owner Farzin Sadr said in February he was working with two local banks to avert the public sale.
Stovall has a lease with Sadr and said the lease will be honored no matter who owns the building.
The name Town Branch Market comes from Town Branch creek, which flows underground through downtown.
Another independently owned downtown grocery store was announced in January, near the Lexington History Museum. Shorty's, An Urban Market, will be at 163 West Short Street in the Traditional Bank building.