Construction resumes as Lexington economy recovers – Lexington-Fayette, Ky.

Lexington, Ky (LEX 18) – Construction has begun on a 260-unit residential complex on the Coldstream research campus at the University of Kentucky.

The complex is called Fifteen 51 and is slated to open in 2022. According to a press release from the University of Kentucky, “The apartment complex offers Coldstream tech workers the opportunity to live, work, play and innovate. , all on the research campus. ”

British officials are also hoping that the addition of residential apartments, townhouses and other amenities will help attract more businesses to the area.

“Fifteen 51 activates Coldstream 24/7, making it an even more attractive place for technology organizations and their employees,” said George Ward, executive director of Coldstream Research Campus.

Lexington Mayor Linda Gorton was groundbreaking on Wednesday. The city played an important role in carrying out the construction of the complex. Basically, the city agreed to change the zoning of the Coldstream research campus to allow up to 15% of the land for residential or commercial use. Before the change, residential apartments were not allowed in the area.

Now that the complex is under construction, Gorton wants more businesses to locate in the area.

“The city has 250 acres of land for economic development in or near the cold stream and is focused on attracting high-tech businesses,” said Mayor Gorton. “This new residential village will make Coldstream even more attractive to these businesses.”

And this is not the only construction project that excites Gorton. Construction is underway across Lexington and the mayor says it’s a good thing.

“We’re under construction, and that’s a good sign,” Gorton said.

“Someone told me awhile ago, what’s going on with all the cranes? And I said the cranes were good, ”Gorton said. “They represent an investment in the community. They represent new projects and growth, which is great for our community.

Gorton said it was also a sign of an economic recovery. The first months of the pandemic have seen ups and downs for the city. However, the city survived and the mayor attributed the region’s economic success to the mixture of different industries present in the region.

“These things have strengthened our economy and allowed people to continue to build, develop and strengthen our economy during the pandemic,” Gorton said.

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