The Goals and Objectives for the Comprehensive Plan, which guides how Lexington will grow in the future, were strengthened in a 13-2 Council vote to make available 2,700 to 5,000 acres for homes and jobs.
A volunteer workgroup, along with support from the Planning Commission staff, now has recommended that the Planning Commission add 2,801 acres suitable for development within the land use boundary (Urban Service Area). The recommended land (see map) won’t negatively impact horse farms, is convenient to major infrastructure and is capable of being sewered.
Although it falls short of the maximum, we urge the Planning Commission to act now to adopt the recommendation for two key reasons:
Housing for all incomes and stages of life…
The median home price in Lexington is $322,000, which has risen 100 percent in 10 years, according to Bluegrass REALTORS. That puts home buying, which is the best way to build generational wealth, out of reach for a majority of Lexingtonians.
More than 67,000 households in Fayette County households earn the median income of $61,526 or less, according to U.S. Census data. For those making that amount, a maximum affordable home price is $240,000. In July, there were fewer than 50 homes listed for sale in the entire county that would be affordable.
The simple law of supply and demand tells us that more land will ease the skyrocketing increases in costs and the rapid pace of gentrification.
Land for jobs…
Job growth is paramount to the stability and well-being of families. Because the majority of city services are funded through the payroll tax, it also is crucial to maintaining and improving quality of life and vital city services. For the first time in our lifetimes, Fayette County has lost population. Any further decline will exacerbate budget deficits that already are looming for the city in the coming years.
We must have readily available land in the county to meet Fayette County’s need for jobs.
Scarcity of resources pits people and groups against each other. Lexington is facing that today with land – and the result is gentrification, skyrocketing home prices that are out of reach for our essential workers and young professionals, and new jobs and expansion of jobs (along with the tax base they bring) are going to surrounding counties.
But it is an arbitrary scarcity, because we have land available.
The Planning Commission staff has identified this land through a rigorous, data-informed analysis. The public has been given the opportunity for input. The workgroup, which represents a cross-section of our community, has overwhelmingly agreed to include the land it identified. Now is the time for action. Our community deserves it.
After the Planning Commission approves the expansion areas, the Planning Staff will work with a consultant to develop master plans to guide the development for homes, jobs, and infrastructure in these areas. The master plan must be completed by December 1, 2024.
WHAT YOU CAN DO:
Stay informed on the process and email the Planning Commission at imagine@lexingtonky.gov. Tell them to approve the land recommended for inclusion.