Construction will begin this fall on an eight-story private student apartment complex on South Limestone that will also include 4,000 square feet of first-floor retail, the developer announced Monday.
Subtext, a national real estate company, recently finalized the purchase of property for the new Ever Lexington, according to a press release. The new building will include 520 beds and 142 units that include one-to-four-bedroom floor plans.
Subtext is partnering with FrontRange Capital and Larson Capital Management on the project.
Demolition permits were filed Aug. 17 for 545, 553 and 563 South Limestone, city records show. The buildings have housed a variety of restaurants and stores over the past several decades.
It’s not clear when demolition will begin. Officials with Subtext did not immediately respond to emails asking for more details.
Ever will be second Subtext project in Lexington
The location of the new apartment building is across from the University of Kentucky’s Memorial Hall, the college of business and college of law. It is a congested pedestrian intersection.
Ever will be Subtext’s second private student apartment building in Lexington. Verve Lexington, an eight-story apartment complex that will include 784 bedrooms on East Maxwell and Lexington avenues, is currently under construction.
Subtext’s buildings are part of a booming and growing private student rental market in Lexington.
Stavroff Land and Development is also building a six-story complex with 277 units and 655 bedrooms aimed at student renters. The building is under construction along East Maxwell, on the block between Lexington Avenue and Stone Avenue.
“With EVER Lexington, we’re bringing another resident-focused community to the market that supports student success while contributing to the city’s continued growth,” said Brandt Stiles, Founding Partner and Co-CEO at Subtext. “By pairing a premier location with thoughtfully designed residences, wellness-focused amenities, and spaces that foster connection, we’re continuing to elevate the standard for student living.”
Some of the amenities planned for the building include a two-story lobby, study mezzanine, fitness center, wellness suite, pool deck, outdoor bar and lounge, and turf zone. Dedicated wellness spaces, including a cold room, sauna, and private studio for fitness, yoga or meditation are also part of the building’s plans, according to Subtext.
Ever Lexington will break ground this fall and is expected to open in the summer of 2028, officials said.
