The City of Frankfort, Kentucky, has requested $616,000 in U.S. Department of Transportation (DOT) Better Utilizing Investments to Leverage Development (BUILD) Planning funds for a $770,000 project to support the revitalization of its Holmes Street Corridor, an economically-distressed area that serves as a key entry to the community from the east and north. DOT assistance will help the City prepare for infrastructure improvements that will calm traffic, enhance pedestrian opportunities, improve safety, promote economic development, and connect with previous TIGER-funded upgrades.
If awarded , grant funds will be used to study and design a Complete Street along Holmes Street, which will connect low-income households with downtown job opportunities. As a small, rural community as defined by DOT, the proposed project aligns with the current Administration’s goals to improve infrastructure condition, address public health and safety, promote connectivity, and facilitate competitiveness. BUILD funding will also leverage the designation of Frankfort’s Holmes Street neighborhood as an Opportunity Zone.
The Holmes Street Corridor encompasses 25 city blocks of the community’s oldest infrastructure and is home to Frankfort’s original commercial corridor adjacent to workforce housing and intact, historic neighborhoods. Approximately 2 miles in length, the area is extremely diverse, with a mix of housing, commercial, and industrial uses, as well as the area’s only elementary learning center. This area of disinvestment has significant potential, with large tracts of underutilized land that disconnect the neighborhood with nearby economic opportunities. Frankfort’s comprehensive plan identifies reconstruction of Holmes Street as a top priority.