In April 2000, Phil Holoubek founded LRC with $10,000 and one goal: affordable, high quality rental options for Lexington’s disadvantaged neighborhoods. He saw the need for housing that residents could be proud of and for housing that would serve to enhance the community. Over the next several years he achieved this goal by providing superior and accessible rental housing to Lexington residents.
In 2005, Phil realized that he could have a far greater impact on the Lexington community by developing world-class properties instead of buying existing properties, and LRC began to intentionally switch gears.
Over the next few years, we expanded to provide a full range of real estate services – downtown real estate development, property management, real estate brokerage, and managed office space.
LRC is now considered the leading developer of Downtown Lexington residential and mixed-use space. We are often referred to as “The Downtown Experts” – a title we take serious pride in!
Our development projects to date, including Main + Rose and Nunn Building Lofts, represent well over $30 million worth of new Downtown Lexington development. These projects alone added over 120 residential units and 25,000 square feet of retail space to Downtown Lexington. These loft projects feature dramatic high ceilings, large windows with unmatched views of Lexington, and contemporary urban finishes.
In an effort to avoid urban sprawl, these two projects help to promote downtown infill, ensuring our farmland in surrounding areas remains secure and retains productivity. If you’ve ever seen the beauty of a Kentucky farm you know why this is important! Main+ Rose was even awarded an LFUCG ‘Historic Preservation’ award despite being new construction. The designation was achieved by developing existing space without tearing down any existing buildings and blending new architecture within the existing urban fabric. We are so incredibly proud of the impact these projects have had on Downtown Lexington. We truly believe they contribute to downtown being an amazing place to live, play or work.
In addition to our high-quality rental housing and our award-winning development projects, LRC also has a quality in house real estate brokerage. Our agents love downtown, love Lexington and are well versed in both residential and commercial real estate sales, purchases, and leases.
Phil and LRC both strive to incorporate as much Community Involvement into their daily practice as possible. Phil serves as co-founder and co-owner of Wild Duck Investments. This self-described “micro angel” venture capital fund invests in local entrepreneurs and start-ups, investing between $5000 – $50,000 per deal. Not only does Wild Duck invest in these young companies, but Phil and his partner spend countless hours mentoring the young business owners. To date, Wild Duck has invested in QX.net, Hippo Software, MakerSpace, a media company, a music festival, and numerous other startups ranging from real estate to wine distribution.
Phil is the founder of the civic organization known as LYPA (Lexington Young Professional’s Association), which is currently in its 15 th year, and strives to recruit and retain knowledge based young professionals. Each year LYPA hands out the prestigious “Rising Star” awards to Lexington’s top up and coming young professionals. The number of Lexingtonians who have been members of LYPA is now in the thousands.
Phil was also responsible for bringing to Lexington the nationally known “Creative Cities Summit” conference. Nationally recognized keynote speakers at his event included Richard Florida, Bill Strickland, and Rebecca Ryan. This event, designed to recruit and retain creative knowledge-based talent in Lexington, was attended by more than 600, and was a direct response to hurdles in recruiting minority-based talent that was expressed to LFUCG city council by some of Lexington’s largest employers.
Phil has served on the boards of numerous local organizations such as the Lexington Center, Urban League, Bluegrass Community Foundation, Downtown Lexington Corporation, Big Brothers Big Sisters, and various other local organizations listed below. Additionally, he has served on a variety of task forces aimed to improve quality of life in Lexington. These included the Budget Improvement Task Force, Downtown Streetscape Task Force, Downtown Circulator (trolley) Task Force, and others.