Fayette schools votes to buy land from prominent Lexington developer’s family for $10.1M

Pending state approval, the Fayette school board voted Monday to purchase 35-plus acres of land and a home at 2160 Versailles Road from Lexington developer Dudley Webb’s family.

School board members discussed the decision in closed session, but board chairman Tyler Murphy announced the decision publicly. He said after the meeting that the purchase price was $10.1 million.

Webb could not immediately be reached for comment Monday night. According to Property Valuation Administrator records, the owner when the property was last purchased in 2002 was listed as Donald Woodford Webb Jr. trustee. He is Dudley Webb’s nephew and the son of the late Donald Webb, co-founder of Webb Companies.

No announcement was made on what the property will be used for.

“All of our options are on the table,” Murphy said.

“It allows us some flexibility in planning innovative programs that we hope to offer and expand in the district,” said Murphy. “It’s a great location. It was a great price we felt.”

Specifically the board voted to allow Superintendent Demetrus Liggins to negotiate and the chairperson to execute a contract to acquire the land that has a home on it, pending approval from the Kentucky Department of Education, Murphy said.

The Webb Companies have completed millions of square feet of commercial real estate space in Lexington Kentucky and Fayette County, including downtown and suburban office space, mixed-use developments, retail shopping centers, apartments and residential developments, warehouses and other industrial facilities, according to its website. City Center in downtown Lexington is among the latest and most visible projects.

Dudley Webb is the chairman and co-founder of Webb Companies. Woodford Webb is the president, the website said.

In 2020, the school district purchased the former Herald-Leader building at 100 Midland Avenue for $7.5 million to combine the existing Eastside and Southside career and technical centers.

Fayette County Schools will get a $10 million grant approved by the Kentucky School Facilities Construction Commission Board for the renovation.

This article may be updated.

This story was originally published April 11, 2022 at 9:20 PM.