Subtext has acquired 565 S. Limestone in Lexington for EVER Lexington, a 520-bed student housing community serving the University of Kentucky. REBusinessOnline reports the project sits inside a qualified opportunity zone and is being developed with FrontRange Capital and Larson Capital Management. Construction is set to begin imminently, with completion scheduled for summer 2028. The community will have 149 units in one- through four-bedroom layouts, plus a two-story lobby, study mezzanine, fitness center, wellness suite, pool deck, fitness studio, cold room, sauna, and an outdoor bar and lounge. Southern Building Group, KTGY, ESG, EA Partners, Schultz Burman Engineering, and UMB are on the development team. This is an OZ 1.0-sited deal, not a Kentucky OZ 2.0 nomination; Kentucky has not published a public 2.0 process.
Original reporting by Daniel Cho for Opportunity Zone Invest, an independent OZ 2.0 research site. Facts are drawn from the primary sources cited above per our editorial standards. Nothing here is tax, legal, or investment advice.
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