UK celebrates opening of new Coldstream research facility ‘The CoRE’

LEXINGTON, Kentucky (October 7, 2022) — Representatives from the University of Kentucky, the Woodbury Corporation, and state and local officials celebrated the grand opening of The CoRE—Collaboration. To research. Entrepreneurship Center at the Coldstream Research Campus in the UK.

The $15 million development provides early-stage high-tech companies with offices and labs in an environment where they can further develop and market their products and services.

“We believe that partnership with the city and the business community is one of the most effective ways to meet the requirements of a 21st landscape of the century,” said British President Eli Capilouto. “This research campus, including the new CoRE building, does much to accelerate the growth and trajectory of this city. By creating well-paying jobs and new products that improve livelihoods in this state and beyond, the University of Kentucky strives to create a healthier, wealthier, and wiser Kentucky.

“The CoRE” is designed to be the first stop for companies looking to set up on the research campus. The project added much-needed wet lab space in central Kentucky, as well as workspace near freeways for businesses and individuals who need to quickly travel to regional facilities.

Kentucky Technology Inc. (KTI), a subsidiary of the UK Research Foundation, leases 20,000 square feet of the building’s estimated 40,000 square feet. KTI plans to sublet its space to suitable high-tech companies. The facility will attract not only start-ups incubated in the UK, but also other companies setting up shop in the Commonwealth.

“The new CoRE building will serve as a first stop for Coldstream prospects inquiring about available facilities. With multiple tenants from various industries, the natural collisions that occur here will lead to new collaborations between private companies and the university,” said George Ward, KTI President and Executive Director of the Coldstream Research Campus. “This is a catalyst project that will encourage development and job creation on the research campus.”

The CoRE was made possible through a public-private partnership with the Woodbury Corporation, the company developing the facility.

“Woodbury Corporation is committed to its relationship with the University of Kentucky on the Coldstream Research Campus,” said Jeff Woodbury, senior vice president of development and acquisitions at Woodbury Corporation. “We have a long history of constructing research buildings at universities across the country. Our experience with the University of Kentucky team has been fantastic. We thank Clark Enersen for the design and Whiting Turner for their professionalism and expertise in the construction process. We are proud of the building and look forward to constructing another building on the Coldstream campus. During the construction process, everyone involved worked well together.

The UK Board approved the construction of the facility and the partnership in 2020. The project has also been supported and accelerated through partnerships with state, city and local authorities. A Product Development Initiative (PDI) grant created by the state and the Kentucky Association for Economic Development and supported by Commerce Lexington enabled the Coldstream Research Campus to receive a $500,000 matching grant to develop a space laboratory in the new building.

“The completion of the new Coldstream Research Laboratory marks an important step toward establishing Kentucky as a premier destination for high-tech companies,” Kentucky Governor Andy Beshear said. “This project will strengthen our economy and foster technological innovation in the Commonwealth by providing a place for businesses to develop their products and services in Lexington. I want to thank the University of Kentucky for being an important partner in building a better future in our state.

Through an amendment to Coldstream’s zoning definition and the provision of tax incentives, the City of Lexington has also been a key partner in moving the facility forward.

“CoRE is a big step forward in the growth of our technology sector,” said Mayor Linda Gorton. “The UK is creating space to live, work and play in an innovative environment at Coldstream. We greatly appreciate the many ways in which the UK contributes to the growth of our economy.”

Two regional offices, as well as the offices of the World Trade Center in Lexington and the United States Department of Commerce, already occupy the building.

Other entities occupying the building are the administrative offices of Coldstream and KTI, the Equine Chemistry Analysis Laboratory, and two regional offices, Whiting-Turner and McNair Living.

For rental information, contact the Coldstream/KTI office at 859-231-8324 or the Woodbury Corporation at 402-405-1823.

About Donnie R. Losey

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