Construction begins on $150 million shopping plaza featuring new Target near Frankfort

Big changes are headed to I-64 near Frankfort.

A groundbreaking ceremony takes place later today for a $150 million shopping plaza that will feature a new Target and other stores and restaurants.

The plaza, called The Paddocks of Frankfort, is off exit 53 of I-64 at U.S. 127 South in Frankfort.

Gov. Andy Beshear, Frankfort Mayor Layne Wilkerson, Franklin County Judge Michael Mueller, other local officials and the developers are to be part of the afternoon ceremony.

The Paddocks of Frankfort will feature retail, restaurant and commercial stores. Target has already signed a lease at the plaza along with another yet-to-be-identified national retailer.

Several lots ranging in size are available for lease. Forty acres of the property are also for sale for commercial use.

A new signalized intersection, revised exit ramps and road extensions are being added for easy access to the plaza.

What’s spurring developers to build there? Equity Management Group Inc., the real estate company handling the development of the property, estimated a population of over 50,000 within seven miles of the plaza.

This story will be updated.