A new housing development is planned for downtown Lexington in the fall of 2009. Demolition of an 8-acre site was completed recently to clear room for the construction of a 334,000 square-foot development.

The design for the complex, The Lex, is made up of four buildings that will have 266 apartments, and retail stores and restaurants on the ground level. The developer for the project, Buckingham Companies, is a privately owned real estate company based in Indianapolis.

Michelle Sinning, spokeswoman for the company, said the construction of The Lex is a response to the anticipated growth of the city because of UK’s plans to increase enrollment.

“The university has growth plans as far as enrollment is concerned,” Sinning said. “While they have plans to increase student housing, they are not going to have enough housing to meet the enrollment plan.”

The project will be “upscale apartments and retail,” Sinning said, and the location is near downtown, which is convenient for students and young professionals.

According to a press release, the complex will also have an outdoor pool, a fitness center, a theatre room, a study area and tanning beds. Leasing for the retail components will begin this summer.