Shippenburg, Pa.— The $70 million, first phase of a student housing project to break ground.
Shippenburg, Pa. — A partnership between Shippensburg University Student Services Inc. (SUSSI) and Campus Apartments will break ground today on the $70 million first phase of a student housing project at the Shippensburg University of Pennsylvania. The three-phase, $200 million project is the largest in the university’s history.
The first phase of the project includes construction of three facilities, which will house 924 students. Two of the buildings will be on the north side of campus, one of which will contain a 13,000-square-foot wellness center. One building will be built on the south side of campus and will be the new location of the University’s Honors Program. Each of the facilities will also include semi-suite and full-suite floor plans, multipurpose programming areas and study/social lounges.
SUSSI, an independent non-profit organization that serves as the voice for the student community, owns and is directing the project. A partnership was formed with Campus Apartments to design, develop and finance the development. Campus Apartments then collaborated with RBC Capital to arrange $70 million in bond financing for the first phase.
“Through our partnership with Campus Apartments, we were able to secure a highly favorable financing arrangement, which is a testament not only to the strength of the university and the expertise of the development team, but also to the quality of this project and the long-term positive impact it will have on the Shippensburg campus,” said Darrell Miller, president of SUSSI, in a statement.
The development team for the project includes CUBE 3 Studio as the architect, Fortune-Johnson Inc. as the general contractor and Greenman-Pedersen Inc. as the consulting engineer. Completion for the first phase is slated for January 2013 and total completion is expected in the summer of 2015.
– Savannah Duncan