As Fox 41 News first reported this week, a major new student housing development is a definite "go," just west of the U of L campus.

Friday morning, U of L officials outlined the plan to turn the long-vacant American Standard factory property into luxury student housing.

A partnership with Edwards Companies, an Ohio developer, is allowing the project to go forward despite national economic problems.

By the fall of 2009, 366 units will be ready for occupancy, and U of L and Edwards expect students to flock to the development.

Eventually, more than 800 students will live in the luxury housing.  The project is expected to lead to other new development in Park Hill, a low income neighborhood which has been in a long decline.