LEXINGTON, KY—Miller-Valentine Group has just bought 9.7 acres of historic horse farm country here for $2.75 million and plans to build WaterStone, a 264-unit class A luxury apartment community on the site. The multifamily development will sit next to Hamburg Place, an expansive two million square foot, mixed-use development comprised of retail, professional offices and residential development. 

This will be a somewhat unique development for Lexington, as it will have an urban-level density in a suburban location. The WaterStone site is at the northeast corner of Man O’ War Blvd. and Polo Club Blvd. near Hamburg Farm, the horse farm founded by John E. Madden in 1898. The original 235-acre farm grew to include 2,000 acres over time and produced six derby winners. About half of the farm has been developed, but even the developed areas still have a lot of green space.

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