Red Draw

What Red Draw does

Red Draw Development is a privately held Lexington, Kentucky-based real estate development company that designs, finances, builds, owns, operates, and maintains buildings primarily for public-sector clients under long-term public-private partnership (P3) lease arrangements. Founded by principals Craig Turner, Megan Walsen, and Garyen Denning, the company positions itself as the largest P3 developer in Kentucky, with a portfolio that includes two government office buildings totaling over 750,000 square feet for the Commonwealth of Kentucky (the Mayo-Underwood Building and 300 Sower Building), multiple university housing and parking projects for Kentucky State University and Eastern Kentucky University, and a planned Government & Life Center for Floyd County, Indiana. Under the P3 model, Red Draw assumes full financing, construction, and long-term maintenance risk while the public entity holds a long-term lease, with ownership transferring to the public entity at lease maturity.

Beyond P3 development, Red Draw operates a commercial development business covering hospitality (two Marriott Aloft hotels as an approved Marriott Lifestyle Brand manager), national restaurant franchise development (17 Raising Cane's locations and 9 MOD Pizza locations across Kentucky, South Carolina, Indiana, and Ohio), bourbon tourism (Horse Soldier Bourbon Farms distillery), retail (The Shoppes at Sunrise Crossing), and a niche luxury garage condo offering called The Haven at its 1535 Delaware Avenue headquarters. The company's revenue model combines project-based development and construction management fees with recurring long-term lease income and in-house property management of nearly 1 million square feet of commercial real estate across central Kentucky. Customer acquisition is relationship-driven through principals' board positions and government backgrounds rather than through digital channels, and pricing is project-specific with no publicly disclosed rates.

Name

Red Draw

Legal name

Red Draw Development

Website

https://reddrawdev.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Red Draw Development is a Lexington, Kentucky-based privately held real estate developer and the state's largest public-private partnership (P3) builder, serving public-sector clients (Commonwealth of Kentucky, universities) and commercial brands (Marriott, Raising Cane's, MOD Pizza) through end-to-end development, financing, construction, and long-term property management.

Ownership category

akta.pro rank

Product category

Public-Private Partnership Real Estate Development

NAICS

Nonresidential Building Construction (2362), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Commercial and Institutional Building Construction (23622)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512), Hotels & Motels (7011)

akta.pro primary industry

Retail & Mixed-Use Commercial Construction (IMAFACAB)

akta.pro secondary industries

Office & Corporate Building Construction (IMAFACAA), Hospitality & Entertainment Venue Construction (IMAFACAC)

Keywords

• Public-private partnerships
• Commercial real estate development
• P3 development services
• Government building construction
• Hospitality development

Headquarters

HQ city

Lexington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. P3 Development and Construction: Red Draw designs, builds, finances, owns, and maintains public-private partnership buildings for set periods. The public entity signs a long-term lease on the property. At lease end, property transfers to the public entity. Revenue comes from lease payments and development/construction fees.
2. Private Commercial Development: Development of restaurants, hotels, and mixed-use commercial projects for private sector clients. Revenue includes development fees, construction management, and property management services.
3. The Haven Luxury Garage Condos: Leasing of five exclusive luxury garage condo units at 1535 Delaware Avenue. Revenue from monthly leasing of climate-controlled units with premium amenities.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Red Draw Development designs, builds, finances, owns, and maintains public-private partnership (P3) buildings for public entities — primarily universities and government agencies — under long-term lease arrangements, with ownership transferring to the public entity at lease end. The company also delivers commercial development, construction management, and property management services for hospitality (Aloft hotels under Marriott Lifestyle Brands), restaurant brands (Raising Cane's, MOD Pizza), specialty projects (Horse Soldier Bourbon Farms distillery), and its own The Haven luxury garage condominiums at 1535 Delaware Avenue, Lexington.

Product overview

Red Draw Development is a purpose-driven real estate development company specializing in public-private partnerships (P3) and niche commercial development projects. The company operates two main service lines: (1) P3 Development services where they design, build, finance, own, and maintain buildings for public entities under long-term lease arrangements, making them the largest P3 developer in Kentucky; and (2) Commercial Development including hospitality (Aloft hotels under Marriott management), restaurant operations (Raising Cane's, MOD Pizza), retail (The Shoppes at Sunrise Crossing), and specialty projects like The Haven luxury garage condos and Horse Soldier Bourbon Farms distillery. Projects range from 400 SF specialty spaces to 400,000+ SF government buildings. The company is led by Craig Turner, Megan Walsen, and Garyen Denning.

Differentiator

Problem solved

Functional benefit

Brands

• The Haven: Luxury garage condo project featuring 5 exclusive units with climate-controlled HVAC, 21-foot ceilings, custom LED lighting, epoxy floors, 220V outlets, and gated property access. Located at 1535 Delaware Avenue, Lexington, KY.

Products and services

• Public-Private Partnership (P3) Development End-to-end design, construction, financing, ownership, and maintenance of buildings for public sector clients — primarily state universities and government agencies — under long-term lease arrangements with ownership transferring to the public entity at lease end. Kentucky's largest P3 developer, with completed projects including the Mayo-Underwood Building ($80M, 385,500 SF), 300 Sower Building ($52.7M, 371,000 SF), KSU New Residence Hall ($37.7M, 408 beds), and EKU's North Hall, Martin Hall, and parking structure.
• Commercial Development Niche commercial development services covering restaurants, retail centers, hotels, and specialty projects including The Shoppes at Sunrise Crossing ($17.8M) and Horse Soldier Bourbon Farms distillery ($200M). Includes development, construction management, and property management services for private sector clients.
• The Haven Private Garage Condos Five exclusive luxury garage condominium units at 1535 Delaware Avenue, Lexington, KY featuring climate-controlled HVAC, 21-foot ceilings, custom LED lighting, epoxy floors, 220V outlets, and gated property access with cameras. Leased monthly to high-net-worth individuals for car collections, art, and personal storage. Direct leasing contact: Megan Walsen.
• Marriott Lifestyle Brand Hotel Development Development and management of Aloft hotels under Marriott Lifestyle Brands, including Aloft Louisville East (126 rooms, completed 2016) and Aloft Columbus Westerville (99 rooms, completed 2017). Red Draw holds approved manager status for Marriott Lifestyle Brands ensuring consistent service and brand-standard compliance.
• Restaurant Brand Development & Operations Full-service restaurant development, operations, and property management for national brands, including 17 Raising Cane's locations across Kentucky and South Carolina and 9 MOD Pizza locations across Kentucky, Indiana, and Ohio.

Quantifiable outcome

• P3 project completed in 13 months (300 Sower Building)
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and secondary.

• Marriott InternationalcoreStrategic or Co-development PartnerRed Draw is an approved manager for Marriott Lifestyle Brands – an arduous status that ensures the brand's commitment to consistent service and exceptional experience is achieved. They have developed Aloft hotels in Louisville (126 rooms, 2016) and Westerville, OH (99 rooms, 2017) in partnership with EOP.
• Commonwealth of KentuckycoreStrategic or Co-development PartnerAs the largest P3 developer in Kentucky, Red Draw has developed 350,000+ sq ft office buildings for the Commonwealth including the Mayo-Underwood Building and 300 Sower Building. Projects are managed through separate LLCs. The P3 arrangement transfers all risk to Red Draw for financing, construction, and long-term maintenance.
• Kentucky State UniversitycoreStrategic or Co-development PartnerNew 408-bed student residence hall completed 2023. P3 project budget of $37.7M. Red Draw provides development, construction management, design, and financing. At end of lease term, ownership transfers to KSU.
• Eastern Kentucky UniversitycoreStrategic or Co-development PartnerFirst P3 projects for EKU including North Hall (500+ beds, $32M), Martin Hall (600+ beds, $42M), and new parking structure (362 spaces, $6M). Craig Turner was acting chairman of the Board of Regents during development. Projects include living-learning environments with classrooms and multi-purpose rooms.
• Floyd County, IndianasecondaryStrategic or Co-development PartnerP3 development for Government & Life Center at Grant Line Road North Annex site. Red Draw was awarded as P3 Developer to design, obtain financing, construct, and develop a safe, secure, and energy-efficient working environment for Floyd County employees and citizens.
• EOP (Enterprise Office Properties)secondaryStrategic or Co-development PartnerDevelopment and architectural partner on multiple hotel projects including Aloft Louisville East and Aloft Columbus Westerville. EOP provided architectural and design services while Red Draw handled development.
• Horse Soldier Bourbon FarmssecondaryImplementation/ SI/ Consulting PartnerActed as owner's representative for Horse Soldier Bourbon's $200M world-class distillery project. Will be added to Kentucky Bourbon Trail. Project includes distillery, luxury lodge, cabins, and culinary destination honoring the 12 Horse Soldiers.
• City of FrankfortsecondaryStrategic or Co-development PartnerP3 development involving master planning and implementation of Downtown Frankfort Revitalization Project on surplus property. Project in planning phase with goals for walkability, riverfront engagement, affordable housing, and bourbon/cultural tourism.

Scale indicators18 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Plenary Group: North American P3 developer that designs, builds, finances, and maintains public infrastructure and buildings under long-term concession agreements. Directly comparable to Red Draw's P3 model of owning and operating public-entity buildings during multi-decade lease terms.
• Gilbane Building Company: Family-owned construction and real-estate developer delivering P3 higher-education, healthcare, and government facilities across the U.S. Comparable vertical scope to Red Draw's university housing and government office P3 practice.
• Hunt Companies: Real estate developer with a substantial P3 and university-housing practice, owning and operating student residences and mixed-use developments nationwide. Directly comparable to Red Draw's EKU and KSU residence-hall P3 wins and recurring property-management model.
• The Weitz Company: National employee-owned design-build and P3 contractor active in higher-education, commercial, and hospitality construction. Comparable to Red Draw's design-build-finance model for university, government, and hotel projects.
• Mortenson Construction: Top U.S. construction and P3 developer active in higher-education housing, civic buildings, and hospitality. Comparable to Red Draw's vertical integration of construction, development, and ownership across institutional and commercial projects.
• Edgemoor Infrastructure & Real Estate: P3 developer specializing in public buildings (courthouses, offices, higher-ed facilities) delivered via DBFOM-style structures. Closest U.S. analog to Red Draw's Kentucky P3 university and government office portfolio, including long-term ownership and operations.
• Clark Enterprises: Private holding company with real estate and P3 building development operations. Comparable as a privately-held, multi-generational firm pursuing institutional and government real-estate development deals at scale.
• Hoar Construction: Private commercial construction firm with P3 and higher-education project experience. Comparable regional, privately-held general contractor and developer profile to Red Draw.

Emerging players

• Schostak Brothers: Michigan-based, family-owned real estate developer and operator covering retail, mixed-use, hospitality, and restaurants. Comparable as a privately-held commercial developer that owns and operates mixed-use and hospitality real estate.

Regional players

• Wohlsen Construction: Mid-Atlantic commercial construction and design-build firm serving senior living, education, healthcare, and hospitality clients. Comparable regional commercial-builder profile to Red Draw's Kentucky-based, multi-segment commercial development work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Red-Draw-102935729013272
• LinkedInlinkedin.com/company/red-draw
• Instagraminstagram.com/reddrawdev

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Red Draw