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The Board of Trustees approved the construction of the facility at its meeting today, along with the authorization for the university to create a public-private partnership with a developer to construct and own the building. Kentucky Technology, Inc. (KTI), a subsidiary of the UK Research Foundation, will master lease 20,000 square feet of the new building’s estimated 40,000 square feet. KTI plans to sublease its space to appropriate high-tech companies.

George Ward, executive director of the Coldstream Research Campus, says the building will fill a facilities gap between small labs leased to companies in UK's Advanced Science and Technology Commercialization Center (ASTeCC) building, and larger facilities used by established companies at Coldstream and other locations in the state.

"The new research building at Coldstream will enable growing high-tech companies, many housed in UK's ASTeCC building, to continue their research and business expansion," Ward said. "There is a very small inventory of available laboratory space for these growing companies currently, and by providing this facility at Coldstream, Lexington will benefit from the well-paying jobs these companies are creating."

The new facility will be constructed to meet Coldstream's design guidelines, and will house wet labs, offices and flex space for the early stage companies. In alignment with UK's new Economic Development Collaborative, the project supports companies growing at ASTeCC and other places as a landing spot for continued growth, providing an environment where they can commercialize their products and services.

The project was authorized by the 2018 Kentucky General Assembly and will be funded by the developer. Construction is expected to be completed in early 2022.

The University of Kentucky is increasingly the first choice for students, faculty and staff to pursue their passions and their professional goals. In the last two years, Forbes has named UK among the best employers for diversity, and INSIGHT into Diversity recognized us as a Diversity Champion three years running. UK is ranked among the top 30 campuses in the nation for LGBTQ* inclusion and safety. UK has been judged a “Great College to Work for" two years in a row, and UK is among only 22 universities in the country on Forbes' list of "America's Best Employers."  We are ranked among the top 10 percent of public institutions for research expenditures — a tangible symbol of our breadth and depth as a university focused on discovery that changes lives and communities. And our patients know and appreciate the fact that UK HealthCare has been named the state’s top hospital for four straight years. Accolades and honors are great. But they are more important for what they represent: the idea that creating a community of belonging and commitment to excellence is how we honor our mission to be not simply the University of Kentucky, but the University for Kentucky.