EdR and the University of Kentucky Sign Agreement for an Additional 2,300 Beds

by Katie Sloan

Lexington, Ky. Second phase of campus housing revitalization to be delivered By summer 2014.

Phase II will add 2,317 residence halls.Lexington, Ky. —  EdR has completed the contracts for Phase II in a public-private partnership to replace all of the dated dorms on the campus of the University of Kentucky with modern housing, bringing the on-campus bed count to 9,000 beds. Construction for Phase I, a 601-bed dorm that will be complete in fall 2013, is ongoing. Construction for Phase II will begin in November.

The five residence halls in Phase II will add 2,317 beds within a variety of two- and four-bedroom suites to the UK campus. The living/learning communities will also contain offices, classrooms, study rooms, multipurpose rooms as well as other amenities to promote a community atmosphere for the underclassmen who will live there. EdR will manage and operate these residence halls as well as Phase I – New Central Residence Hall.

The $133.7 million cost of Phase II will be financed through EdR’s On-Campus Equity Plan – The ONE Plan – which uses the company’s equity to fund projects on university land. The project cost for Phase I is $25.8 million.

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