Student Housing: Lock Haven University Foundation, Capstone Development Partner for New Student Housing

LOCK HAVEN – The Lock Haven University Foundation (“LHUF”) is pleased to announce the selection of Capstone Development Corp. as the lead developer for new student housing on the campus of Lock Haven University (“LHU”). After a nation-wide selection process, Capstone and its team members were selected to partner with the Foundation to construct replacement housing for LHU. Capstone’s team members include Douglassville, Pennsylvania-based STV Architects as the project architect, and Mascaro Construction, based in Pittsburgh, Pennsylvania, as the general contractor.

The project is part of a long-range, student housing initiative for the Lock Haven campus, providing a total of 682 new student beds. Preliminary design proposals include two suite-style options for students, a shared bedroom / private bath unit (two students per unit) and a private bedroom / private bath unit (two students per unit). The residences will be designed with multiple wings of varying heights and orientation. The facilities will include public community spaces, student lounges and study spaces, game areas, community kitchens, laundry, and multi-purpose rooms for seminars and group study.

The residences will be constructed on Lock Haven University property along Railroad and Fairview Streets in Lock Haven, and the University will provide day-to-day operations management of the residences. The project is scheduled for student occupancy in August 2012.

“The Foundation is extremely pleased to announce this partnership with Capstone,” said George Durrwachter, President of the Board of Directors of the Foundation. “The new housing we will develop for the University’s students is vital to the future of the University.”

“We are honored to partner with LHUF to help renew the on-campus housing stock,” said Bruce McKee, EVP for Capstone’s Urban and Campus Development Division, and the senior development manager for the project. McKee added, “Our partnership will include not only planning and development for this new housing, but also helping ensure that once this new housing is completed, all of on-campus housing works well together. That’s the holistic approach Capstone takes on every campus.”

About Lock Haven University and the Lock Haven University Foundation:

Located in central Pennsylvania, Lock Haven University is a member of the Pennsylvania State System of Higher Education, and is a residential institution with an enrollment of over 5,000 students on two campuses. The Lock Haven University Foundation is a private, non-profit organization, supporting Lock Haven University through scholarships, grants, and special projects benefiting the campus. The Foundation has an independent board of directors comprised of business and community leaders overseeing the Foundation’s operations and investments.

About Capstone:

Now in its 20th year of business, Capstone Development Corp. is one of the various companies comprising “The Capstone Companies.” Headquartered in Birmingham, Alabama, all of these companies are focused exclusively on some aspect of student housing development, management, interior design, finance coordination, and construction. Capstone Development Corp. is the nation’s most active development partner with colleges and universities, having been selected to partner with 58 institutions to develop on-campus housing communities (36,571 beds). Capstone On-Campus Management, the on-campus management division, currently partners with 20 universities to manage 21,000 beds within on-campus housing communities.

Lock Haven University is a member of the Pennsylvania State System of Higher Education (PASSHE), the largest provider of higher education in the commonwealth. Its 14 universities offer more than 250 degree and certificate programs in more than 120 areas of study. Nearly 405,000 system alumni live and work in Pennsylvania.

[gantdaily.com]

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