Kentucky accepts lone bid for Rosewell property bought for bridges project
Acquired for $1.6 million in 2005, Rosewell is among three properties the state bought under historic preservation deals agreed to by Kentucky, Indiana and the U.S government as part of the Ohio River Bridges Project.
FRANKFORT, Ky. (WDRB) -- A Jewish outreach organization made the lone offer Wednesday for the Rosewell estate, which Kentucky bought more than a decade ago as part of the Ohio River Bridges Project.
The Kentucky Transportation Cabinet has tentatively accepted the $400,001 bid from the Chabad Chai Center. Rabbi Boruch Susman, who attended the bid opening, said he would speak about the property's possible uses once a deal is finalized.
The Kentucky Transportation Cabinet tried to sell Rosewell last year, requiring at least $1 million for the estate on Transylvania Avenue not far from the Ohio River in eastern Jefferson County. No bids were received.
Acquired for $1.6 million in 2005, Rosewell is among three properties the state bought under historic preservation deals agreed to by Kentucky, Indiana and the U.S government as part of the bridges project.
Kentucky paid $13.5 million for Rosewell, the Drumanard estate that now sits above a tunnel south of the Lewis and Clark Bridge and the Grocers Ice and Cold Storage building on East Main Street downtown.
The state has added an easement that lets state preservation officials inspect the property “at all reasonable times,” and requires Rosewell’s owner to seek written permission from the state to make changes to parts of the house such as staircase railings, light fixtures and built-in cabinets.
On Tuesday, the state tentatively approved a $400,000 bid by Louisville’s Denton Floyd Real Estate Group to buy the Grocers Ice and Cold Storage building on East Main Street downtown. Developers plan to build up to 70 apartments there.
The Kentucky Finance and Administration Cabinet and Gov. Matt Bevin also must approve any final sale of the properties.
Appraisals of the properties aren’t being made public until the bidding process has finalized. Bids on Drumanard are scheduled to be opened on Thursday.
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