FRANKFORT, Ky. (LEX 18) — Gov. Andy Beshear announced Wednesday that Weddington Plaza Partners LLC plans to invest nearly $6 million to restore and renovate the Weddington Shopping Center in Coal Run, which sustained heavy damage due to flooding earlier this year.
A report from Beshear detailed that the project will help retain up to 300 Kentucky jobs.
"One defining characteristic about the people of the commonwealth is resilience, and every time an obstacle or challenge presents itself, we face it, work together and build back stronger than we were before," Beshear said.
"This project is a great example of the positive impact that collaboration and teamwork can have on our communities and will bring economic opportunities back to Pike County and areas affected by flooding," Beshear added. "I want to thank the state and local officials and organizations for making this restoration possible."
The investment will be used to remove damaged property, replace flooring, roofing and electrical components, and rebuild the flood wall, as well as for security expenses, the report read. To date, around $1 million has been used on initial repairs, cleaning and renovations.
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Weddington Plaza Partners is hopeful to have close to 50% of the shopping center restored and occupied within the next 12 months, with renovations to the entire space complete within 36 months.
"2025 has been an incredibly difficult year for Eastern Kentucky," said Joel Dumas with Weddington Plaza Partners. "The devastating floods of February left a lasting impact on homes, businesses and livelihoods; an impact that will be felt for years to come. The Weddington Plaza community shopping center, a cornerstone of the Pikeville and Coal Run communities that employs and serves thousands, was not spared."
Dumas credited state and local leadership for securing critical funding for the recovery effort.
"But thanks to the steadfast leadership and support of Gov. Beshear, Cabinet for Economic Development Secretary Jeff Noel, Big Sandy Area Development District Executive Director Eric Ratliff, Pike County Judge/Executive Ray Jones, Coal Run Mayor Andrew Scott and so many others who worked tirelessly to secure critical funding, we are now seeing the first real signs of recovery," Dumas said.
"My partners and I are deeply grateful for their efforts. It's been a long eight months, but progress is happening, tenants are returning, and we look forward to welcoming back customers as Weddington Plaza comes back to life."
In 2019, the company acquired the property in Coal Run with the goal of making the space a functional, important part of the community, creating jobs and driving investment.
Coal Run Mayor Andrew H. Scott recognized those who helped make the project possible.
"The city of Coal Run is extremely grateful to Gov. Beshear, Rocky Adkins, Secretary Noel, BSADD Executive Director Eric Ratliff, Judge/Executive Ray Jones, Weddington Plaza Partners and all who worked so hard to secure this funding for continued economic development in Eastern Kentucky following the devastating February 2025 floods that ravaged our community," Scott said.
United States Representative “Hal” Rogers (KY-05), Dean of the House, released the following statement regarding the investment:
“It was clear from day one that millions would be required to recover from the flood in Coal Run, where several local businesses were destroyed. That’s why I urged swift approval from the U.S. Small Business Administration (SBA) for a $2 million federal low-interest loan, as well as another $2 million that is pending approval to help restore the Weddington Plaza. We’re not just restoring buildings; we’re investing in the heart of this community through their thriving resilience. When federal, state and local partners rally together for Eastern Kentucky, we can accomplish great things in record time.”
