Here’s when construction will start on 8-story apartment complex near UK’s campus
An eight-story student apartment complex near the University of Kentucky campus is one step closer to its construction start.
St. Louis-based developer Subtext says it plans to start construction this summer on the complex, which will feature 784 beds and span almost a dozen properties that have been razed from 169 to 185 Maxwell Street and 245 to 277 Lexington Avenue. The Lexington-Fayette Urban Councy Council voted 14-1 last summer to approve a zone change that cleared the way for the project.
Subtext plans for the apartment complex to open in summer 2028.
The apartment building is Subtext’s first in Kentucky. Dubbed VERVE Lexington, it will span 460,136 square feet and include 784 beds across 275 units with one-to-four bedroom layouts.
A first-floor, publicly accessible coffee shop will be integrated into the building’s lobby, the developer said.
In addition, residents will have 19,000 square feet of indoor amenity space for dedicated study rooms and a gym. The building will also have 15,000 square feet of outdoor space, including a second-floor terrace with a pool and clubhouse.
“VERVE Lexington delivers the ultimate convenience next to campus, paired with a high-quality living experience intentionally designed for residents to thrive,” said Brandt Stiles, founding partner and co-CEO of Subtext, as part of the update. “This development enhances the student experience while contributing to a more vibrant, connected community between campus and downtown Lexington.”
Investment advisers from Clarion Partners are part of the development team. The real estate investment manager’s senior vice president of transactions, Brent Gerst, said the Lexington market is supported by strong enrollment and demand for quality student housing.
“Coupled with the benefits of the qualified opportunity zone program, we see a compelling opportunity to deliver much-needed student housing,” Gerst said.
Properties where the apartment building will stand are part of Lexington’s opportunity zone, areas part of a federal initiative that incentivize long-term private investment in designated low-income census tracts to spur economic development. Building in an opportunity zone allows developers to receive various tax reductions.
During the approval process last year, several neighbors were concerned the eight-story building, in addition to a separate six-story one also being built along Maxwell, would cause traffic congestion in the area. They also worried the demolition of historic homes to make way for apartments would change the character of the neighborhood.
With these two new buildings, East Maxwell Street between Martin Luther King Boulevard and Stone Avenue will have more than 500 new apartments in the coming years.
There have also been repeated discussions during city planning commission meetings about UK’s increasing enrollment, which has led to more clusters of high-rise, private apartment developments. UK expected to have its largest enrollment in school history when the fall semester began in 2025 — 36,700 students.
During an April 2025 meeting, planning Commissioner Frank Penn questioned why and why the school had pushed its housing into the private market and into Lexington’s neighborhoods.
“It seems the university has decided its land is better used for other purposes (than housing),” Penn said. “My concern is that we do this the right way. If the university continues to grow, what do we need to do going forward so that we do this in a way that benefits the city and the university?”
Housing developments by private apartment companies that cater to college students have been on the rise in Lexington. Two Hub properties — one on South Upper and a second on Virginia Avenue — have opened in recent years.
Subtext proposed a different student apartment complex on South Limestone, but the zone change was voted down, though a smaller version of the project was approved by council in February.
This story was originally published April 8, 2026 at 1:50 PM.
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