UK Board Approves Lexington Residential Development Plan
The University of Kentucky Board of Trustees has given the go ahead for a residential development on property near the interstate in Lexington. The project is proposed for acreage included in the Coldstream Research site.
The Board authorized UK Executive Vice President for Finance and Administration Eric Monday to negotiate and executive a ground lease with real estate and development firm Cityscape Residential. The company will lease land from the university for a residential village development project.
The 13 acre development will include approximately 250 multi-family residential units. Coldstream Research Campus Director George Ward said the multi-family housing will allow for the creation of a live-work-play-learn environment by providing the social infrastructure necessary to further the development of office and research facilities.?
The proposal calls for construction to start the end of this year with an opening slated for the end of 2022.
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