by John Pawlak, the U.S. Trotting Association

Columbus, OH — The Lexington Trots Breeders Association (LTBA), operators of the Red Mile, has announced it will sell 10 acres on which the former Tattersalls sale pavilion stands to a private developer who will build housing aimed at attracting University of Kentucky students.

The sale price was not disclosed. The developers filed a request with city planning officials this past Monday to have the zoning changed to accommodate the proposed apartment complex. If approved, the complex would open in 2013.

Joe Costa, president and general manager at The Red Mile, told the Lexington (Ky.) Herald-Leader that sales no longer take place in the Tattersalls pavilion. The LTBA had considered abandoning its lease with Fasig-Tipton for the annual yearling sale and relocating to the Tattersalls sale facility…but found what was originally a tobacco warehouse to be beyond cost-effective repair.

“The question became, do we renovate and brings sales back to The Red Mile, or stay at Fasig-Tipton?” Costa said to the newspaper. “The Tattersalls property had very limited use for us going forward.”

Months ago, the track announced it was developing 65 acres of its property for retail, bars and restaurants, a drugstore, a bank, offices, a jogging and bike trail, and housing. That project is awaiting private sector financing and development.

The newspaper also reported that The Red Mile had been approached by three developers seeking to purchase the Tattersalls property. Only one in four students lives on the U.K. campus, which has led to an active market for housing near the campus…which is located near the historic urban racetrack.