Real Estate Advisors & Property Strategy Consultants
Federal Hill was once a pre-Civil War era tobacco plantation. Federal Hill was the subject of Stephen Foster’s song, Old Folks at Home, later renamed My Old Kentucky Home, which is sung annually before the Kentucky Derby. The State of Kentucky acquired the 235-acre plantation in 1922, designated it as a state park in 1936, and named it My Old Kentucky Home State Park.
Overall, the entire Kentucky State Park system consists of 70 properties and 1,800 buildings located on a total of 45,000 acres. Collectively, the park system is considered a major state asset and catalyst for a $14-billion-dollar tourism industry. However, the parks operate at a deficit and require substantial funding by the state’s taxpayers.
Moreover, the name My Old Kentucky Home State has become a subject of controversy in recent years as the original song was deemed to have racial undertones and romanticized plantation life.
J. Richard Hill & Co developed a case study to demonstrate a culturally appropriate approach to challenging subject matters and better park stewardship with economic development of underutilized portions of the park. A key aspect of the process was a workshop conducted with descendants of the enslaved people who lived on Federal Hill.
The result was a new vision plan that was market and economically sustainable and one which was supported by the descendants of Federal Hill.
