10:06am

Wed December 14, 2011
Lexington/Richmond

Real Estate Company to Rebuild UK Housing

The University of Kentucky is negotiating with a Memphis-based real estate company to take over its student housing by slowly rebuilding, then managing, all of UK's dorms. Education Realty Trust could spend as much as $500 million during the next several years to tear down and rebuild most of UK's existing housing, with 6,000 beds, and build facilities with an additional 3,000 beds. The private company then would control and manage all residential areas of campus.