Harrison Street has announced plans to develop a 344-unit/649-bed on-campus student housing facility at the University of Kentucky in partnership with Greystar Real Estate Partners.
The development extends the public-private partnership (PPP) with the University and will further expand Harrison Street and Greystar’s existing 14 residence halls, consisting of 6,850-beds, which was announced in 2021 and is currently fully occupied.
“This transaction deepens our relationship with the University of Kentucky and underscores our commitment to public-private partnerships, an essential solution that addresses the dynamic needs of universities as they continue to see significant student growth.
“We’re excited to work alongside Greystar and the University of Kentucky to develop another top-tier student housing asset that will meet increasing enrolment needs while enhancing the on-campus experience.”Jim Hennessy, Head of PPP Business Development, Harrison Street
Upon completion targeted for 2026, the new residence hall will be centrally located between key academic buildings, Greek Life, and primary athletic facilities.
Desinged by Sherman Carter Barnhart, the housing facility will replace the University’s former Kirwan-Blanding Complex, with the goal of playing a crucial role in supporting the institution’s strategic enrolment growth, which saw a record number of first-year students enrol this past academic year.
“This development extends and enhances what has been a pivotal partnership for the University of Kentucky.
“Our research indicates that students who live on campus do better academically and have higher retention and graduation rates. Outstanding housing that further enables learning has been critical to our growth as an institution that places the success of students first in everything that we do.”Eric N. Monday, UK’s Executive Vice President for Finance and Administration, University of Kentucky
Harrison Street is a leader in providing PPP solutions to the higher education, healthcare and government sectors. The firm has invested $5.6bn in PPPs to date, across 60 assets serving 41 colleges and universities.
“We are thrilled to expand our partnership with the University of Kentucky. This new residence hall will not only provide state-of-the-art living spaces but will also be a hub for student life. We are committed to enhancing the overall student experience and supporting the University’s growth trajectory.”Julie Skolnicki, Senior Managing Director for University Partnerships, Greystar