The 13-acre site of the former Continental Inn, which closed in 2005, is seeing development work — but only on three acres.
The remaining 10 acres on East New Circle and Winchester roads remain open for development, according to Lexington businessman Jerry Lundergan, who, with his family, owns the limited liability corporation that owns the property.
Lundergan signed a non-disclosure agreement on the name of the tenant and is not sure when the tenant will announce its new location, he said. It is a retail company that already has a presence in Lexington, he added.
"I could have put something on that property years ago," Lundergan said, adding he has been picky about what goes on that spot because of his fondness for the Eastland Parkway neighborhood.
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"I was determined to make sure that what went there was something that would complement the neighborhood and not be a detriment," Lundergan said.