The University of Kentucky plans to purchase Coliseum Plaza for $3.9 million, a prominent corner property near campus housing several restaurants and a liquor store. The UK Board of Trustees will vote Friday on acquiring the 0.43-acre site at Rose Street and Avenue of Champions, currently owned by Greer Companies.

This acquisition includes tenants like Bangkok House, El Mariachi Mexican Restaurant & Cantina, Tropical Smoothie, and Coliseum Liquors. While the tenants were unaware of the potential sale, UK plans to honor existing leases, with Greer managing the property during this period. The deal notably excludes the neighboring building occupied by Papa John's and Qdoba.

This purchase aligns with UK's broader strategy to develop a fan entertainment district near athletic facilities. The university created Champions Blue, a nonprofit LLC, last year specifically to pursue new revenue streams as college athletics costs continue rising. This acquisition represents UK's latest move to expand its campus footprint and potentially transform the area into a dining and entertainment hub, though specific development plans remain unspecified.