Brokers see first signs of WEG real estate bump
The 2010 Alltech Federation Equestre Internationale (FEI) World Equestrian Games are anticipated to bring 900 athletes and over 600,000 spectators in a 16-day period to Lexington’s Kentucky Horse Park. Economic impact projections start at about $150 million in Kentucky prior to and during the Games, counting any dollars that, but for the Games, would not be spent. Some speculate the range will go as high as the $328 million that was realized in Aachen, Germany, where the last competition was held in 2006. One can only speculate on the positive long-term impact it will have on the region after 2010.
This is an incredible opportunity to show the world what we have to sell, and that means promoting a way of life. Whenever we have the chance to expose the Lexington lifestyle and the positive aspects of our community, the future benefits are immeasurable. Sharing our message with a broad base of individuals, and exposing Lexington as a desirable place to live, may prove to be beneficial to the real estate market. Lexington is like no other city; its uniqueness is what sets us apart. It may be horse aficionados looking to purchase a small farm to take advantage of brand-new, world-class facilities with the ability to hold events year round, or businesses seeking to relocate that may profit from the ongoing needs of potential customers and the continuing influence of the event. It could also be employees and their families required to staff new positions created by the growth and the more than 30 national equine organizations already housed at the Kentucky Horse Park. Or it could be families seeking a safe, clean and diverse community with sport horse enthusiasm; or the visitor who just loves white plank fences, the charm of rural Bluegrass, and its horse appeal….