News Summary
Ray Gallimore is renovating the historic Development Building in Lexington, Kentucky, aiming to create new residential and commercial spaces. This ambitious project will preserve original architectural features while transforming the upper floors into condominiums. The ground floor will attract vibrant businesses, including a café, to enhance downtown foot traffic. Gallimore’s initiative, which also includes the Lexington Mail Co. building, reflects a broader trend in revitalizing downtown Lexington.
Lexington, Kentucky is set to undergo significant transformation as Ray Gallimore embarks on an ambitious renovation project involving the historic Development Building and an additional building located behind it. Gallimore, who purchased the properties from Douglass Everhart’s estate in February 2025, aims to revitalize the downtown area with new residential and commercial spaces.
The Development Building, constructed in 1905, has a rich history, hosting various businesses over the decades, including a dental lab and the Douglass Everhart School of Ballet. Gallimore, who has a personal connection to the building from his childhood visits while his sister attended ballet classes, plans to convert its top two floors into residential units. This includes three penthouse condominiums and several smaller condominiums located on the second floor.
One of the renovation highlights will be the restoration of much of the original architecture. Gallimore intends to preserve the building’s wainscoting, plaster walls, and stunning punched tin ceilings, which soar over 20 feet high. The renovation efforts will kickoff with the exterior of the Development Building, where the faux green marble façade—added during a previous bank occupancy—will be removed, returning the building closer to its historical aesthetic.
In addition to transforming the upper floors into living spaces, Gallimore’s plans for the ground floor aim to make it attractive for new tenants. His vision is to bring in vibrant businesses that will contribute positively to the foot traffic and energy in the downtown area. There is particular interest in establishing a café and other tenants that promote a walkable urban environment.
The scope of the renovation will also include the Lexington Mail Co. building situated behind the Development Building, which is slated for future residential construction. Gallimore’s initiative is part of a larger trend focused on revitalizing downtown Lexington, with the goal of attracting more residents and businesses.
Work on the overall project is expected to unfold over several years, as Gallimore prioritizes preserving the building’s historical significance while seamlessly integrating modern amenities. An essential aspect of the renovation is to foster a strong sense of community in the downtown area, which Gallimore believes is crucial for the success of his plans.
Interestingly, the second floor of the Development Building has maintained much of its original condition, with many features and materials still preserved alongside stacks of old business records left behind by former occupants. Plans are also in place to include a rooftop deck accessible to residents of the new condominiums, further enhancing the living experience.
The renovations at the Development Building highlight a growing commitment to revitalizing downtown Lexington, ensuring it remains an attractive destination for both residents and visitors alike. Through these efforts, Gallimore aims to create a vibrant and communal space that honors the past while embracing the future.
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Additional Resources
- The Dispatch: New Owner Has Uptown Plans for Historic Downtown Lexington Building
- Wikipedia: Lexington, Kentucky
- Kentucky.com: Education News
- Google Search: Lexington Kentucky
- The Dispatch: Cook Out Plans $1 Million Renovation for Old Lexington Lidl Building
- Encyclopedia Britannica: Lexington
Author: STAFF HERE LEXINGTON KY STAFF
LEXINGTON STAFF WRITER The LEXINGTON STAFF WRITER represents the experienced team at HERELexingtonKY.com, your go-to source for actionable local news and information in Lexington, Fayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Woodland Art Fair, Crave Food and Music Festival, and Railbird Festival. Our coverage extends to key organizations like Commerce Lexington and Blue Grass Community Foundation, plus leading businesses in education, manufacturing, and technology that power the local economy such as University of Kentucky, Toyota Motor Manufacturing, and Lexmark. As part of the broader HERE network, including HEREBowlingGreen.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
