Lexington, Ky. — The University of Kentucky Board of Trustees has approved the next phase of the university’s on-campus housing revitalization that will bring the total number of beds delivered or currently under development to 6,850.
Lewis Hall, a five-story building delivering 346 beds in two-bedroom suites, is scheduled for completion in 2017. Each apartment is set to include furnishings, upscale appointments and a kitchenette. Dedicated to the University of Kentucky Honors program, the housing will be located adjacent to existing honors housing — Lyman T. Hall and Central Hall — on the Lexington campus.
EdR will finance the previously announced $74 million development through its On-Campus Equity Plan which uses the company’s equity and financial stability to fund projects on university land. This program gives the university access to a single partner, and helps create long-term financial benefits for EdR and the University of Kentucky.
EdR will be responsible for financing, development, construction oversight, management and maintenance on the property, while the university will provide residence life services.
The largest on-campus housing development in American public higher education to date, the University of Kentucky’s revitalization began in late 2011 when the UK Board of Trustees saw an opportunity for investment in student success by enhancing the undergraduate experience with new living-learning communities.
Since then, EdR and the University of Kentucky have opened new communities each year: In 2013, two buildings opened with a total of 601 beds; In 2014, five buildings opened with a total of 2,381 beds; and in 2015, three buildings opened with a total of 1,610 beds.
Two buildings with 1,141 beds are expected for delivery in 2016, and two buildings with 1,117 beds are expected for delivery in 2017.