Board of Regents sell bonds to support new student apartment project
The Board of Regents, State of Iowa approved the sale of bonds to partially fund the new Apartment Housing complex. Bond proceeds of $15,200,000 and $5,790,000 in residence system funds will pay for the project. Phase one construction of the first building is scheduled for completion in 2012. Phase two will be completed in 2013 when the second building will be ready for occupancy.
The Board of Regents approved bond sales to partially fund the Apartment Housing. In phase one of the project, Bond proceeds of $15,200,000 and $5,790,000 in residence system funds will pay for the construction of the 204 bed apartment building is scheduled to be complete in time for occupancy in 2012. Phase two, a second building consisting of an additional 245 beds, is currently being designed and is scheduled to open fall 2013 pending approval by the Board of Regents.
No appropriations or tuition funds are being used for these projects. You can view construction progress via a web cam; a link is available on the DOR web site. Click here for more information and to see what’s happening at the construction site!