Balfour Beatty Campus Solutions, a developer and operator of infrastructure projects for the college and university market, has closed on public-private partnership financing to develop an on-campus housing and dining community at the University of North Carolina Wilmington, according to an announcement Thursday.
The partnership involved the issuance of $147.6 million in bonds, UNCW officials said.
The two-phase project will house about 1,814 students and provide a variety of amenities, including group study and collaboration spaces, a news release stated.
Located in the southeast area of the UNCW campus, the development’s first phase is scheduled to open for the fall 2020 semester with 1,038 beds in a pod-style configuration for first-year students, according to the release.
In the second phase, the news release stated, 776 beds in both pod and semi-suite styles will be added for the fall 2021 semester for second-year students and upperclassmen. The development will also include more than 3,500 square feet of dining space, according to the release, as well as makerspace, group study and collaboration areas and a learning center for the sophomore class, which will be constructed in both phases of the project.
“We’re very pleased to work with UNCW to deliver much-anticipated infrastructure that will enable more students to live on campus at the very heart of this growing institution,” said Bob Shepko, president of Balfour Beatty Campus Solutions, in the release. “Our team has worked closely with university leadership on a very thoughtful planning and design effort, and we look forward to breaking ground on this exciting new offering for UNCW students.”
According to the release, the development is being designed by Clark Nexsen Architecture and Engineering and constructed by Balfour Beatty Construction.
Clark Nexsen Architecture's portfolio also includes Cape Fear Community College's Advanced and Emerging Technologies Building and Heavy Equipment and Transport Technology Building at its North Campus in Castle Hayne.
"Collegiate Housing Foundation, a national non-profit entity, is the project’s residential facility owner through an issuance of project-based, tax-exempt debt financing," the release stated. "Upon completion, the housing community will be managed by the University."
Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route
Emma Dill
-
Apr 22, 2024
|
|
Severe Weather Postpones Trump Rally In Wilmington
Emma Dill
-
Apr 20, 2024
|
|
Will NC Be CNBC's Three-time Top State For Business?
Audrey Elsberry
-
Apr 22, 2024
|
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...
Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.