UK Research Campus Breaks Ground on Residential Village

• By Matt Jones
• 07/14/21

On the University of Kentucky Coldstream Research Campus in Lexington, Ky., officials recently broke ground on a new residential village for the campus’ researchers and workforce. The 260-unit, multi-family complex, to be named FIFTEEN51 Apartments, is scheduled to open its doors to residents in spring 2022. Construction is expected to be fully complete by late 2022.

“At the University of Kentucky, we are strategically and thoughtfully expanding both our campus and our relationships with partners in Lexington and beyond,” said University of Kentucky President Eli Capilouto. “FIFTEEN51 will create a new, workforce-friendly environment in the Lexington community. We remain focused on creating environments like this to support the research enterprise, economic opportunities and our community. The Coldstream Research Campus is a product of that effort. It’s another way we earn our way forward, partner for success and ultimately serve as the University for Kentucky.”

Indianapolis-based Cityscape Residential will serve as the facility’s ground lessee, constructing and operating the 13-acre complex.

“Cityscape was honored to be selected during the RFP process, and we are excited to be breaking ground on this landmark community within the Coldstream Research Campus,” said Brian Evans, vice president of Cityscape Residential. “As the first residential village development within the campus, FIFTEEN51 will offer a luxury housing option to help drive the high-tech trajectory of the campus. We look forward to welcoming our first residents in the spring of 2022.”

The Lexington-Fayette Urban County Council worked with the university in 2018 to establish a mixed-use tax increment financing district on the campus. By changing Coldstream’s zoning definition and making state and local tax incentives available, the city of Lexington has played an integral part in the campus’s project, said the university.

“The city has 250 acres open for economic development on or near Coldstream, and we are focusing on attracting high-tech companies,” said Lexington Mayor Linda Gorton. “This new residential village will make Coldstream even more attractive to these companies.” City officials anticipate that the residential village will increase the demand for space among research and development companies.

“The goal at many research parks nationwide is to create a dynamic live-work-play-innovate environment, and this residential development helps us accomplish this at Coldstream,” said George Ward, executive director of the Coldstream Research Campus. “I like to use the term ‘social infrastructure’ to describe the amenities necessary to attract young professionals and an innovative workforce. This development will activate Coldstream 24/7 and make it an even more attractive location for high-tech organizations.”