EXECUTIVE SUMMARY

Oxford Circle Opportunity Hub

The 2013 Comprehensive Plan for Lexington-Fayette County, KY recommended seven areas for further study through a small area plan process. One of those small area plans was the Cardinal Valley Small Area Plan, adopted in April 2015, with an action plan implementation item to conduct a feasibility study for the Oxford Circle Neighborhood Center as a step towards the small area plan’s goal of “Redevelop Oxford Circle as a community space by providing public services such as a new library and community center, as well as neighborhood serving retail.” Redevelopment of Oxford Circle into a neighborhood center with these services was ranked highest by the public in meeting #3 of the small area plan process.

The Oxford Circle Redevelopment Feasibility Study was tasked with understanding what mix of services - library, community center and neighborhood-serving retail – could be supported and would ultimately serve to transform the underperforming retail center. The assignment was not to conduct another planning exercise, but to create a development program that effectively responded to the market and the community it will ultimately serve. A development mind-set and approach was applied throughout the entire 6-month process to fully understand the scale and type of opportunity, how to overcome existing barriers both to the market and with the physical development and finally how to package a viable redevelopment scenario that meets the needs of the community, service providers and existing property owners.

While this site and market is not without its challenges, the study determined that none presented obstacles that cannot be overcome with a good plan of action and engaged, high capacity partners. The following plan outlines a redevelopment approach that will, if successfully implemented, create a “win-win-win” for all involved. Service providers, like the Library and Community Action Council, will get newly built or renovated space that better suits their and their clients’ needs. Existing property owners will have more options, many of which do not exist today, giving them new freedom to explore alternative futures and opportunities. And most importantly, the community will have access to state of the art facilities that offer services tailored to their individual community’s needs through the creation of the Oxford Circle Opportunity Hub.

Overview Of Key Findings

1. Current site plan / development layout doesn’t work. Today there are signficant development impediments - condition of buildings/infrastructure, maintenance, safety, parcel configuration, visibility - that must be addressed in order to make the site work for its users.

2. Retail opportunities are limited. While the area is “underserved” by current retail options, poor visibility, competition and physical/psychological barriers do not make Oxford Circle an ideal site. The frontage along Versailles is the most ideal location for future retail. New retail options should serve neighborhood, commuter traffic and hospital visitor markets.

3. Unique community challenges require unique approach. Today’s Cardinal Valley functions very differently than the one that grew up around the original Oxford Circle center. There is a growing need for community and social services to address the evolving needs of the predominately Hispanic community.

4. Library + Community Center are critical anchors. With redevelopment, there is an opportunity to leverage the location of the Library and community/recreational center to attract additional investment and businesses.

5. Piecemeal approach will not work. A holistic approach, to both redevelopment and service delivery, will allow for more sustainable outcomes. There are opportunities for small-scale, incremental changes, but they are unlikely to change the current dynamic over the long haul or attract the level of investment that is needed to re-establish Oxford Circle as a neighborhood contributor.

Study Recommendations

Transform the underperforming retail center by acquiring necessary properties that accommodate the development of the Oxford Circle Opportunity Hub. This approach allows anchor uses - Village Branch Library and a Community/Recreation Center –to concentrate existing and expanded services in a way that improves delivery and increases accessibility by their core clients. These initial catalytic investments will attract future private-sector investment and interest from the broader retail/service markets.