SOMERSET, Ky., Feb. 16, 2017 /PRNewswire/ -- Del Spina Enterprises, a Kentucky based corporation has announced a proposal to the Kentucky Department of Tourism to construct a 1,000,000 sq. ft. retail and entertainment center on their (300) acre parcel on Hwy-80 midway between the Pulaski and Laurel Counties.
The front 100-acres will accommodate retail stores and lodging accommodations. The remaining 200-acres will provide residents and tourist entertainment and park attractions such as amphitheater events, nature trails, petting zoo, observation tower with chair lifts, zip lines, horseback riding through the adjacent National Forest, among numerous additional activities. These activities will encompass two thirds of the Complex and offer the beginning of a micro-mini Gatlinburg-Pigeon Forge type attraction.
A project of this caliber is not new to developers Anthony and Fran Del Spina. They have recently completed their project, Lake Cumberland Resort, a 10-mile gated Lake Community in Pulaski County with a taxable value of $50,000,000 and have generated tax revenues of $17,000,000 since its inception.
The Miracle Mile Complex became a consideration for development once news was released in 2006 a study to merge Interstate 1-66 into Kentucky Hwy 80. The Del Spinas funded an Economic Impact Study prepared by independent engineering firm QK4 and Colson Consultants to challenge the exclusion of Del Spina's property as a potential interchange candidate due to its costly acquisition and the elimination of one of the future development that could deprive the State of Kentucky voluminous tax revenue and job opportunities.
The completed study included projections of population growth, income per capita, employment opportunities, tourism statistics, employee pay scales, traffic counts in the 12-mile distance to the Complex from I-75 and the 19-mile distant from Somerset. The conclusion was a ready market, in all seasons that would attract Retailers and Lodging companies to join the project.
On July 16, 2016, the Commonwealth Journal announced a potential restructure change for 1-66 by merely improving Hwy KY-80 to Interstate Standards. The fear of construction congestion has stalemated any new development on the 30-mile route from Somerset to London. Del Spina states, "Our project is doable under these proposed changes." We have attended a meeting with members of Congressman Hal Rogers staff, the State Tourism Division, and recently with the Governor's Chief of Staff. If State funding can be appropriated, this project would become a reality and 428-acres of farmland could become one of Kentucky's premiere landmark project.
The Miracle Mile Complex has become the "Gateway to Lake Cumberland" where presently 4.7-million tourist vacation annually. An attraction of this caliber will enhance huge tax revenue, thousands of job opportunities to justify the State and County expenses to provide water, sewage lines to the project, off ramps from Hwy. 80 into the project to eliminate traffic congestion and an overpass to provide access in both directions.
No stone has been left un-turned. Starting date begins with State formal agreement.
For details, call 606-219-9283 or log on to: http://DelspinaEnterprises.Com/
To download Business Plan, Click on Yellow Highlighted Area on Site.
This content was issued through the press release distribution service at Newswire.com. For more info visit: http://www.newswire.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/100-million-tourist-attraction-for-lake-cumberland-kentucky-300408705.html
SOURCE Del Spina Enterprises