In the old Tobacco district of Mayfield we have purchased almost 5 acres of, what used to be, the most prominent part of town. Our goal is to revitalize the entire area but to specifically fix up the last standing, brick Tobacco warehouse in Mayfield. We are wanting to conserve one of the two only brick roads left, fix up the falling down warehouse and turn that area into the “new hub” of the city. The warehouse will hopefully house a large event center that can hold more occupancy/guests than almost any other venue in our area. We also want to create a restaurant, coffee shop, ice cream shop, salon, retail opportunity, etc. in the remainder of the building “in the back”.
The potential market users for this project would be anyone in the community, anyone that is looking to travel for a day full of opportunity and also business and individuals looking for event space. This warehouse/entire area will bring together everyone in the community and the surrounding communities; not to mention tourism attraction which Mayfield so desperately needs.
For a project of this size and of this caliber there is nothing that is competition in the area. There are other event spaces but nothing that can hold this capacity of people, and only one actually in Mayfield. The other venues are at least 20 miles away located in other cities. There are other restaurants and retail in the city of Mayfield but they would not be direct competitors as we would carry different items and serve different food than what is already available in Mayfield.
We have a list of investors that we have talked to, can still contact, but we have not had any person confirm 100% yet. We have one that is a very good lead that we are just waiting on the final arrangements as to how the repayment will take place, but since we do not have their 100% commitment yet I hate to rely on them as an investor just yet. If they do confirm, they will hold more than 20% of the investment.