Two brothers with the determination and strong work ethics embarked on an amazing journey decades ago. Donald W. and R. Dudley Webb grew up in the coal mining camp of Hot Spot in the mountains of Letcher County, Kentucky. With a desire to succeed, they worked their way through college and law school then opened their law office over forty years ago without a single client. Soon, with a little capital investment and one small property, they combined their law school education with a passion and talent to create a premier commercial real estate development company, now one of the largest in the state. The Webb Companies was founded on January 1, 1972. The Webbs worked before and after the law office hours in the real estate development business negotiating contracts and overseeing construction sites. Hard work coupled with legal minds enabled them to make informed decisions when developing real estate. Business ventures were undertaken with educated judgment rather than speculation and their legal practice transitioned perfectly into real estate development. Subsequently, The Webb Companies partnered with Lexington in developing and growing a thriving region. That tradition has continued in the Lexington area for more than four decades, and has extended to over sixty other cities around the country.
Easy transactions and development projects served as building blocks that propelled the company to a position in the marketplace where they became recognized as the third- largest diversified real estate developer in the United States in 1986. At one time the company employed a workforce of 325 people. The impact of The Webb Companies’ legacy of development in Lexington and Fayette County is significant, with projects having provided more than 5.5 million square feet of offices, hotels warehouses, shopping centers, medical offices and surgery centers as well as condominiums. Their development projects contribute a total tax base value of approximately $500 million and generate more than $1.5 million annually to the state, local, and school taxes. Those same projects provide jobs and business locations for several thousand people in Fayette County.
Early on, the Webbs’ credibility and experience created a climate of trust that caused lenders and investors to collaborate with them on many projects. A hallmark accomplishment of The Webb Companies was their participation in the development of the Radisson Plaza Hotel/ Vine Center Complex that helped to convince the NCAA to bring the 1985 NCAA Men’s Basketball Championship to Lexington. The Webb’s partnership with contractors, local companies, insurance companies, the hotel industry and state government facilitated the construction of the hotel, parking garage, and office tower. The complex opened eighteen months after groundbreaking and was available to serve one to the most successful NCAA Tournaments in history.
Today, The Webb Companies, located in the landmark Lexington Financial Center, leads Central Kentucky in commercial real estate development, property management, leasing and brokerage, and tenant representation. The firm has adapted to changes in the economy and trends in real estate related businesses by right- sizing its personnel. It now concentrates on management of its own properties and those of third-parties while new and younger leadership heads the firm. The founders are still actively involved in various aspects for the company’s endeavors, but currently they only personally accept strategic and extremely challenging ventures like CentrePoint project in downtown Lexington. The day to day operations and the future of the company is in the hands of Woodford Webb, who serves as president and the firm’s Executive Committee whose members include Ron Tritschler and Ken Michul.
The Webbs’ commitment to their company and business associates serves as a conduit to their commitment to community and charitable activities. Donald W. Webb has served the Kentucky Economic Development Corporation, and various healthcare related and corporate boards. He has also served on an array of arts and civic boards including a period as Chairman of the board of the Lexington Chamber of Commerce. Dudley has served on various national industry boards and committees, including those of the Urban Land Institute and the National Association of Industrial and Office Parks. His local service includes Director of the PNC bank, the Bluegrass Community Foundation and other civic and philanthropic organizations. He has served on the Board of Trustees for Georgetown College as well as the Lexington School and Sayre School Boards. Both Donald and Dudely were founders and substantial organizers of the Lexington Trolley Company and the Downtown Lexington Corporation, each being honored as Life Members.
Woodford follows in his father’s and uncle’s footsteps, and was the youngest chair of the Lexington Chamber of Commerce in 2009. He currently serves as the Chairman of the Board of Hospice of the Bluegrass and President of the Downtown Lexington Corporation. His service extends to other civic organizations and his award winning community involvement includes young professional and public policy concerns. The Webbs are avid fundraisers for community causes and are active members of their houses of worship.
In the future, the Webbs will continue to serve their community with philanthropy as well as maintaining a strong business presence in Lexington and the surrounding region. The goal of “providing a quality product for the community that provides pleasurable and profitable facilities for their tenants with a maximum return to their real estate investor- partners” is the ongoing mission of The Webb Companies. The foundation built during their first four decades of operation promises to be substantial asset for the future development of Central Kentucky and possible future opportunities across the nation.
