Kentucky is opening
for cannabis retail soon
CannDev in Kentucky
Here is some background information to help you understand the potential of this upcoming opportunity:
– 48 dispensary licenses will be divided among 11 regions. More than 93,750 residents per store, which is more than Ohio.
– The application period runs from July 1 to August 31 2024, so things are moving very quickly. The process will be conducted as a lottery and is scheduled to be drawn in October 2024.
– Real estate is required to apply. CannDev is working hard in Kentucky to provide retailers with properties to apply with. See below for more about real estate in Kentucky.
– Local governments can opt out of cannabis businesses, but citizens can petition to be opted back in by local ballot measure.
– The application fee is $5,000. Very important: Applicants can only apply once per region. That means 11 lottery tickets per applicant, since there are 11 regions to apply for.
CannDev is actively securing off-market real estate locations in Kentucky which is required to apply. As a real estate partner we are looking to work with retailers who want to apply for a retail cannabis business.
If you’re interested in opening a retail store in Kentucky and would like to gain access to our Off Market Deals please sign up here.
See below for a map showing the 11 Kentucky regions.
CannDev does not have access to an opt in/opt out list currently in Kentucky. We are actively reaching out to jurisdictions/cities manually to discover which ones are allowing for cannabis retail. Each city has until January 1st, 2025 to opt out of cannabis.
If an application is submitted and wins a retail license in a city that ends up not allowing for cannabis sale then the state will allow the license to be moved to another city in the same region.
The Kentucky application period runs from July 1 to August 31 2024. The process will be conducted as a lottery and is scheduled to be drawn in October 2024.
48 dispensary licenses will be divided among 11 regions. More than 93,750 residents per store, which is more than Ohio. See the graphic below showing the map of the 11 regions.
Real estate is required to apply for a retail license in Kentucky.
We are contacting the cities with the highest revenue potential to understand the exact regulatory requirements for real estate. And to make sure that city is allowing for cannabis retail and isn’t going to opt out.
We will be sharing our real estate locations with a private list of retailers that sign up. To receive access to our Off-Market Deals please sign up here.
Missouri has adopted a lottery system for the selection process for 48 retail licenses, between 11 regions.
The application process in Kentucky involves completing the necessary forms, paying the required fees, and submitting the appropriate documentation. There is still more information due to be released by the state of Kentucky for the application process.
The application fee is $5,000 (non refundable).
Very important: Applicants can only apply once per county. That means 11 lottery tickets per applicant, since there are 11 regions to apply for.
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