Client moving in soon to Lexington’s former Festival Market. How’s the renovation going?
Things are still on track for Downtown Lexington to have a wine bar, bakery and late night diner in one building undergoing a full transformation.
On the second and third floors of the former Festival Market at 325 Main Street, some of the cities’ lawyers and bankers will continue their work in new offices this summer.
Katie Kaufman bought Triangle Center in September 2022. In the 1980s, the building at the corner of Main and Broadway opened as Festival Market and was rebranded a decade later from mall to office.
Kaufman, with her Card Development team in tow, hopes the top to bottom renovation she’s leading will be the start of success for first-floor retail and restaurants open to the public and serving as amenities for commercial businesses in the building.
“I do think it’s exciting that this place is still going to be sort of a third space for people to gather and be comfortable but also a Class A office space, which is really unique in Lexington,” Kaufman told the Herald-Leader.
“... That was our whole thesis: We have to out-compete the home office,” she said. “We have to make this place more comfortable and have more amenities than your own home, which is really hard.”
The renovation and redevelopment of what was a downtown staple has happened at the same time as the city opened its Gatton Park on the Town Branch and continues to anticipate construction on a mixed-use development along High Street and a renovation at the Hyatt Regency hotel next to Rupp Arena.
The crescendo of downtown revitalization is what Kaufman is most excited to be part of and offer as a selling point to her commercial tenants.
PNC Bank is relocating to 325 Main, where around 30 of its staff will begin work June 8.
Rather than a retail branch for withdrawals and deposits, most of the staff work in commercial and small business lending, some in private banking, and others in human resources and auditing.
Kristen Byrd, the bank’s regional president for Kentucky and southern Indiana, said the amenities of 325 Main are what’s been the hallmark of making the transition from small corporate office to something new — a space that encourages collaboration.
On an early tour of the office before staff start work again, Kaufman applauded PNC’s design direction that put premium space in the hands of the majority of the people who work in the office.
Instead of saving window space or corner offices for partners or managers, desks are spread out in the open under a skylight, and everyone has access to a balcony.
Byrd and a number of staff making the office move in Lexington work as relationship managers for the area’s businesses, ensuring they have enough money to thrive.
“Lexington is growing. It’s got a different level of energy and we want to be a part of it,” Byrd said. “We’re the state’s largest bank (by deposit market share) and if we want to continue to grow, we need our communities to be more successful.
“So, I think the more that we can invest in Lexington, the more we can support our clients and help them have success,” she said.
Being downtown is part of client support, Byrd said, adding that her staff are looking forward to taking advantage of Thursday Night Live, Rupp Arena and Gatton Park as venues for wooing new clients or continuing to build relationships.
Byrd said the opportunity to connect with more clients in the building is also good for the bank’s success.
At 325 Main, FBT Gibbons, a law firm, was the first tenant to take a chance on Kaufman’s idea to transform the former mall into a meeting space and community hub.
Byrd said a number of the bank’s customers also work with the law firm and having both in one spot is a win-win.
Similar to the PNC office, the law firm’s space retained much of the original architecture of the shopping mall: shiny concrete floors and skylights. There’s also a corner kitchen space with balcony access.
While construction continues so business can begin on the second and third floors, finishing touches have been put on the lobby.
Kaufman said seeing green wood paneling, a mural and furniture in the space has been a confidence boost for the project’s progress.
Once the building is ready to open, Kaufman said the public will have access to the first-floor and there will be Wi-Fi, but Kaufman said the intention of the space is to promote making memories, not writing emails.
The still forthcoming wine bar, bakery and coffee bar, and all-day diner with late night takeout will each have their own entrance on Main Street, access from the lobby and are about a year from opening.
Things are still on track for the lobby to have a built-in help desk and dry goods store stocked with highly-curated grab-and-go food, drinks and everyday items.
There are still first-floor spots needing tenants, Kaufman said, adding she hopes she can attract a business that provides a creative outlet for all ages.
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