Editor’s notes: To view photos from today’s groundbreaking, click here.
FRANKFORT, Ky. (June 4, 2024) – Today, Gov. Andy Beshear joined Frankfort Mayor Layne Wilkerson, Franklin County Judge/Executive Michael Mueller and others to celebrate a Target store coming to Frankfort. The store is the anchor of a $150 million mixed-use development project that is the largest in city and county history.
The regional center is being built at Interstate Highway 64 and U.S. Highway 127 off exit 53 in Frankfort. The 128,000-square-foot Target store will be a first in Franklin County and is expected to draw shoppers from seven neighboring counties.
An analysis by Commonwealth Economics found the project is expected to directly support 1,085 jobs and $28 million in annual wages, with another 177 jobs and $3.9 million in yearly wages indirectly supported in the area. The development is also projected to create 1,732 construction jobs over three years.
The project is being developed by Pat Madden of Hamburg Place, along with Bret Caller and Jason Taylor of Equity-Management Group Inc.
“Frankfort is a special place, filled with special people, and it’s the city my family calls home,” Gov. Beshear said. “This groundbreaking is a huge development for our Capital City. It will spur economic development, boost tourism and, most of all, provide a new shopping and entertainment experience for the folks that live here. One of the world’s most beloved brands, Target, is coming to Frankfort, and we appreciate Pat Madden and his team for investing here.”
Madden added, “Target is building hundreds of new stores to reach guests with a shopping experience that’s welcoming, convenient and fun, whether they’re shopping the aisles or using same-day services. We are proud to have them as an anchor at the Paddocks of Frankfort, a premier shopping, dining and commercial destination in the Capital City. My partners and I are enthusiastic about the community and excited to invest in Frankfort. We are happy to be getting started today.”
Mayor Wilkerson added, “The investment in the Paddocks of Frankfort is a great sign of growth in our passionate community. Guests love the Target experience, and we welcome their investment in Frankfort. The city is proud to support the Paddocks and we are grateful to the development team for their investment.”
Judge Mueller said, “We welcome Target and the Paddocks of Frankfort. Today is a great day in Franklin County, and there are many more great days to come. Thank you to the development team for your investment in our community.”
This investment continues Gov. Beshear’s commitment to economic development across the state and in Frankfort and Franklin County. Since the start of his administration, the Governor has announced $370,349,300 in private investment for Franklin County, from 20 projects that are expected to create 180 good jobs.
The Governor has also announced more than 90 state funding awards for Frankfort and Franklin County, totaling more than $19 million, that support cleaner water projects, high-speed internet, tourism, road repairs, parks and more.
For more information about the Paddocks of Frankfort, click here and here.
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