New apartment complex opening near downtown Lexington. Take a look inside
A new apartment complex will open in Lexington Wednesday.
The Studios340 complex, located on Legion Drive, will bring 105 new units to Lexington and cost $13 million. As the city grows, infill projects like this one will be an important way to house everyone, said Mike Harris, President of Cowgill Asset Management, who owns the new development.
“Everybody’s gonna need a place to live. Office space is dwindling a little bit because of people being able to work from home, and there’s always some concern that internet shopping is gonna take away retail,” Harris said.
“But people always need a place to live and Lexington has been a wonderful place to be.”
Lexington needs over 22,549 additional housing units to meet the current demand, according to an Oct. 2024 study commissioned by the city government.
The opening of this apartment complex will bring Cowgill’s portfolio up to 15 communities, all in Fayette County, boasting 2029 apartments. That includes The Flats at 345, on Fourth Street near the Jefferson Street Corridor, and Studios180 on Martin Luther King Jr. Boulevard.
Studios340 has short-term and long-term leases, and two different sized studio apartments. It also offers three one-bedroom apartments. Utilities are included in rent, which runs between $1,255 - $1,855 per month. The complex is pet friendly and smoke free.
Tenants have the option of furnished or unfurnished apartments. All the fittings for the furnished apartments came from Lexington companies, said Carson Baughman, Cowgill director of development.
This story was originally published April 22, 2025 at 8:27 AM.