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EdR Breaks Ground At University Of Kentucky

Stocks in this article: EDR

EdR (NYSE:EDR), one of the nation’s largest developers, owners and managers of collegiate housing, broke ground this morning on New Central Residence Hall, the first building in a multi-phase project aimed at revitalizing University of Kentucky (UK) on-campus housing.

Joining EdR today at the groundbreaking celebration were University of Kentucky President Dr. Eli Capilouto and other dignitaries, partners and UK officials.

This housing renaissance is one aspect of fulfilling “The Kentucky Promise,” President Capilouto’s initiative to regenerate the campus, enhance undergraduate education, offer more opportunities to young Kentuckians through scholarships and continue a nearly 150-year legacy of education, research and service to the commonwealth.

"Today, we are breaking ground on more than a building, we're breaking ground on a brighter future for our students, faculty, and staff," said President Eli Capilouto. "Our public/private partnership with EdR is an innovative approach to managing within the new normal and moving forward in pursuit of our Kentucky Promise."

"Upon completion, the new residence hall will offer the cutting-edge technology and amenities students expect of a modern Flagship research University and will provide the living/learning experience required in order for our graduates to lead lives of leadership, meaning, and purpose," Capilouto said.

"Additionally, this facility, and our campus-wide revitalization effort over the next several years, will yield countless construction jobs bolstering local industry and business and benefitting the state economy."

“With this groundbreaking, the University of Kentucky is taking the first step toward rebuilding and renewing the core of its campus,” said Lt. Governor Jerry Abramson. “This presents greater opportunities for its students living in this new high-tech residence hall to grow and prosper and become the leaders of tomorrow.”

This first building, which EdR will own under a long-term ground-lease agreement signed prior to today’s groundbreaking, is being constructed near the center of campus on Haggin Field. New Central Residence Hall will be a 601-bed living-learning community with classrooms and meeting space. The two-building, four-story community will be available for occupancy in fall 2013.

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