Lexington, Ky. — New honors hall launches on-campus partnership.
Lexington, Ky. — Commemorative shovels hit the dirt at the University of Kentucky April 17 for a groundbreaking ceremony for New Central Residence Hall.
The start of construction of the 601-bed honors building marks the beginning of EdR and UK's partnership that will use EdR's equity to modernize the campus' dated housing stock. This first building, which EdR will own under a long-term ground-lease agreement signed prior to the groundbreaking, is being constructed near the center of campus on Haggin Field. The two-building, four-story community will be available for occupancy in fall 2013. This project's total is $25.8 million.
UK and EdR are in discussions about Phase II. In that phase, EdR will assume management responsibility for the university's 6,000-bed housing portfolio. Phase II also involves the demolition and replacement of the current on-campus housing as well as its expansion to approximately 9,000 beds over the next five to seven years.