Lexington, August 15, 2025
News Summary
Core Spaces, a Chicago-based developer, has filed for a zoning change to create a multi-unit student housing complex in Lexington, consisting of an eight-story building with 310 apartment units and 12 townhouses, providing 983 beds for University of Kentucky students. The development aims to meet growing housing demand, but has raised concerns among residents about the demolition of existing homes and preservation of neighborhood character.
Lexington, Kentucky – Chicago-based developer Core Spaces has submitted an application for a zoning change on August 4, seeking to transform residential properties on East Maxwell Street and Kalmia Avenue into a multi-unit student housing complex. The proposed development consists of an eight-story building with a total of 310 apartment units and 12 two-story townhouses, providing a combined total of 983 beds for students.
The new complex plans to include an interior parking garage with 489 parking spaces, with access points provided from Kalmia Avenue and Stone Streets. The townhouses will be strategically placed around the perimeter of the main structure, ensuring a cohesive design throughout the development. Additional amenities planned for the site include two interior courtyards, a roof deck, and a swimming pool situated on the top floor.
If the Urban County Planning Commission and the Lexington Fayette Urban County Council grant approval, this would mark Core Spaces’ third student housing project dedicated to University of Kentucky (UK) students in Lexington. The developer is noted for its HUB student properties, with existing locations at 500 S. Upper and 685 S. Limestone streets.
Core Spaces aims to meet the increasing demand for student housing as UK continues to grow its enrollment, offering high-quality living options that remain reasonably priced and conveniently located between downtown and the campus. This proposed site is in close proximity to a newly constructed six-story student apartment complex developed by Stavroff Land and Development, as well as a recently approved eight-story complex by Subtext, which includes 825 bedrooms.
Should the HUB development gain approval, it would contribute to a significant increase in housing availability, with at least 867 new apartment units becoming available within just three blocks along East Maxwell Street, directly across from UK’s campus.
However, the project has sparked concerns among local residents and preservationists who are apprehensive about the potential loss of existing homes in the area, many of which already serve as student apartments. Critics fear that the influx of new constructions could disrupt the neighborhood’s character. Approximately a dozen residences on Kalmia, East Maxwell, Rose, and Stone streets are slated for demolition to accommodate the new development.
The executive director of the Blue Grass Trust for Historic Preservation has expressed disappointment regarding the potential destruction of historic homes and has called for more sustainable development practices. Likewise, local architect concerns emphasize that numerous buildings marked for demolition are in sound condition and possess historical significance.
Core Spaces maintains that none of the buildings on the proposed site fall within a historic overlay or have been classified as historically significant structures. A neighborhood meeting allowing for community input is scheduled for August 27 at the Central Public Library. The zone change hearing is planned for September 25 before the Urban County Planning Commission, although there could be delays in these hearings.
FAQ
- What is the proposed development by Core Spaces?
- The proposed development involves an eight-story student housing complex with 310 apartment units and 12 townhouses, offering a total of 983 beds.
- What amenities will the new development feature?
- The development will include an interior parking garage, two courtyards, a roof deck, and a swimming pool on the top floor.
- Who is the target market for this housing complex?
- The housing complex is primarily aimed at students attending the University of Kentucky.
- What are the concerns regarding the development?
- Local residents and preservationists are concerned about the demolition of existing homes and the impact on the neighborhood’s character.
- When are the community meetings scheduled?
- A neighborhood meeting will take place on August 27, and a zone change hearing is scheduled for September 25.
Key Features of the Proposed Development
| Feature | Details |
|---|---|
| Number of apartment units | 310 |
| Number of townhouses | 12 |
| Total beds | 983 |
| Parking spaces | 489 |
| Amenities | Two courtyards, roof deck, swimming pool |
| Expected approval hearings | August 27 (neighborhood meeting), September 25 (zone change hearing) |
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Additional Resources
- Kentucky.com: Zoning Change for Multi-Unit Student Housing
- Wikipedia: Student Housing
- Multi-Housing News: Barings JV Acquires Student Asset
- Google Search: Student Housing Kentucky
- RE Journals: Gilbane Development Unveils Student Housing at UK
- Encyclopedia Britannica: Housing
- Yield Pro: The Stretch Student Housing Project
- Google News: Student Apartment Controversy Kentucky
- JLL: Sale of Student Housing in Kentucky
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