Thursday, September 27, 2012

City Approves Major Pikeville Project

{Pikeville, Kentucky}...Monday, the Pikeville City Commission approved a real estate agreement with the US Postal Service on Thompson Road and a contingent assignment agreement with RealtyLink Investments on a proposed development to be located on property surrounding the Texas Roadhouse. Pikeville City Manager Donovan Blackburn says the city plans to purchase the US Post Office for $1 million, build a new post office and lease the property for 20 years. The US Postal Service Committee will meet within the next 10 to 14 days to approve the contract. The project is expected to create 18 to 19 national stores and between 400 to 600 new jobs. The developer is to invest an estimated $30 million. Construction is expected to begin in early spring and take one and one-half to two years to complete.