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Stantec Pulls Out Of CentrePointe Project

Lexington’s CentrePointe project has lost a major tenant. The decision represents yet another setback for the controversial downtown development.

Engineering firm Stantec became the latest casualty of the most recent round of construction delays Monday. The Herald-Leader reports that the international company backed out of the deal to move into two-and-a-half floors of the office tower because funding setbacks pushed the completion date for the tower from March of next year to late 2015.

Tiffanie Reynolds, a spokesperson for Stantec says the leases on the company’s two Lexington offices will be up before the CentrePointe space becomes available.

While Developer Dudley Webb says other possible tenants have expressed interest, he also acknowledged that delays in obtaining funding for the project’s underground garage have discouraged deals with potential tenants.

Once completed, the project is also set to include apartments and a hotel, along with retail stores and restaurants.

Copyright 2014 WUKY