Work Begins on KY Apartments
Continental Properties has started development on Springs at Hamburg, a 312-unit community in Lexington. The developer expects to complete construction in the summer of 2019.
By D.C. Stribling
Continental Properties has started work on Springs at Hamburg, a 312-unit apartment community in Lexington, Ky. The project will include 14 buildings, and each unit will have townhome-style entrances.
The property is designed to be upmarket, including such unit features as stainless-steel appliances and freestanding kitchen islands. Common amenities will include resort-style pool with pool-side grills, fitness center, clubhouse and four parking-garage buildings. The developer expects to complete construction in the summer of 2019.
Doster Construction Co. is the general contractor on the project. Springs at Hamburg is the company’s fifth multifamily project with Menomonee Falls, Wis.-based Continental Properties. Kahler Slater Experience Design is the architect for the project.
Demand is Strong in Lexington
In November, Continental acquired 19 acres in Lexington to develop Springs at Hamburg. According to the company, the leasing success of Springs at Winchester Road, a project of its also in Lexington, demonstrated the demand for more upmarket apartment units in the market.
For one thing, the job growth in the area over the past three years has been strong. Since 2014, the Lexington metro area has added an average of 7,275 jobs annually, making it the number-one ranked metro in Kentucky for job growth and 41st nationally, according to the Bureau of Labor Statistics.