New Housing Project
The University has experienced strong housing demand and plans to construct a new residence hall (New Hall) within the Housing and Dining System (H&D Fund) • The University has a live-on campus requirement for first year students • The University had a 89% historical 10-year average occupancy rate for residence halls
The University’s housing capacity currently includes 19 residence halls and 3 apartment complexes with a total of 3,615 beds
Construction of the New Hall is being planned to add 360-400 beds to the University’s housing capacity, as well as a dining facility and multi-purpose room
• Planned completion in July/August of 2019 for Fall 2019 opening • Estimated project cost of $45 million including financing related costs
The University plans to issue long-term revenue bonds (the “2018 Bonds”) to finance the construction of the New Hall • 31 Year final maturity with one year of capitalized interest and 30 years amortization
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