Student Housing: Financing Secured for New Student Housing at SUNY
from CityBiz Real Estate
Education Realty Trust Inc. has closed on financing for a new student housing development at the State University of New York College of Environmental Science and Forestry (SUNY-ESF) in Syracuse, New York for the ESF College Foundation, Inc.
Allen & O’Hara Development Co., LLC, (”Allen & O’Hara”) a wholly owned subsidiary of EDR, will lead the design and development of this property. Construction will now begin on the project which is scheduled to open in 2011. EDR will also provide management services for the student housing community under a ten-year agreement.
The community is expected to have 454 total beds in fully-furnished residence hall suites and apartments for freshmen and upper classmen, and will provide state-of-the-art accommodations such as fully wired data and cable services. Other amenities will include a multi-purpose commons area, lounge, computer lab, bike storage, laundry facilities and other conveniences for the comfort of the SUNY-ESF students.
“SUNY’s College of Environmental Science and Forestry is one of the nation’s leading eco-friendly universities,” said Rhonda Johannesen, Vice President, Allen & O’Hara, and lead developer on this project. “The design will be a model of sustainable building and landscaping that embodies the environmental values of the College and their goal to become a climate neutral campus.”
Some of the sustainability features include daylighting design, natural ventilation, and maximum use of high recycled content products and local and regional materials. Naturally landscaped areas, rain gardens and a renewable rainwater process combined with a variety of reduced water usage systems inside the building will help conserve water.
“Allen & O’Hara’s attention to our college’s sustainability ideals along with our goal to greatly improve our students’ living environment impressed the selection committee,” said Brenda Greenfield, Executive Director of the ESF College Foundation, Inc., a not-for-profit corporation of alumni, college and community leaders committed to helping the SUNY College of Environmental Science and Forestry (SUNY-ESF) achieve its mission through resource development and resource management.
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