The former Towne Square Mall property is another not closer to a major transformation, because the city of Owensboro has approved an incentive of 1.5 million dollars to help give life to an interior and external family entertainment center of $ 17.7 million.
The Commission of the City of Owensboro adopted the measure Tuesday by adopting the municipal order 10-2025, which authorizes four payments for payment at TS Entertainment, LLC while the construction milestones are respected. The developer must invest at least $ 10.5 million to receive complete incentive.
TS Entertainment, a local investment group, plans to revitalize the property of 33 acres at 5000 Frederica Street and the 5105 Back Square Drive with a wide range of attractions, including karts, go-karts, a laser label, a mini golf, a bowling, an arcade, Lawn games and a game field for children. A scene of lawn and interior lawn are also planned for concerts and events.
“This is the type of development that does not only fill a gap in the south of the Frénerica, but also brings new life to an area that has been struggling since the shopping center closed,” said city director Nate Pagan. He pointed out that payments are linked to progress: “The last payment is not made as long as they do not have a certificate of occupation. This is responsibility and guarantee that the project is carried out.”
The city’s agreement describes a 24 -month window so that construction begins and a period of 36 months for completion. Payments of $ 375,000 each will be made when TS Entertainment obtains a construction permit, reaches 25% and 50% of construction benchmarks and obtains the approval of the occupation.
The project recently received a major boost when the Kentucky Tourism Development Finance Authority (KTDFA) approved more than $ 2 million in incentives through Kentucky Tourism Development Act. State incentives are designed to support projects that improve tourism and stimulate local economies.
“Ktda’s approval reception is an exciting step, but there is still work to do,” Tony Yager said Entertainment. “Community engagement and local support will be essential to make this vision a reality.”
The entertainment complex should create 75 full -time and part -time jobs, and project estimates suggest that visitors outside the state could represent 25% of customers during the first year and 35% by the fifth year.
The city’s commissioner, Sharon Nesmith, said that incentive represents an intelligent reinvestment in the future of the city.
“The incentive decision to support a new company on the site of the shopping center guarantees that abandoned goods are revitalized,” said Nesmith. “The plans integrate entertainment for our young people and families and offer new options to entertain those who visit Owensboro. We are lucky that local investors bring new ideas to contribute to the continuous growth of our city. ”
Commissioner Bob Glenn has also expressed his support for the project, appearing a “healthy and family” addition that could benefit tourism and help attract other companies in the southern corridor of the Frederica.
“The Division of Payments over time protects taxpayers and links funding to real progress,” said Glenn. “It is also an important step towards filling out other vacant properties in the region, such as Old Tumbleweed and TGI Friday locations.”
Commissioner Jeff Sanford said he was initially skeptical but became a fervent supporter after examining the project’s vision. “If it turns out that what I have seen, it will be extremely pleasant,” he said. “South Frederica needs investment, and it’s a step in the right direction.”
The city’s agreement includes provisions aimed at retaining funding if construction stands or TS entertainment do not comply with its obligations. Pagan said that these guarantees, as well as the economic potential, argued the investment.
The city commissioner, Curtis Maglinger, also expressed his support for the project.
“I think it is important to invest in local opportunities that help promote tourism.” Said Maglinger. “With major investments such as Kentucky Sound Stage and other companies are on the southern part of Owensboro, we have the opportunity to really do big things for our community.”
“It is not only a development,” added Glenn. “This is what comes then – jobs, tourism and long -term growth for the whole region.”