With enrollment hitting record-setting levels at the University
of Illinois at Chicago this fall and projected numbers of new
students climbing by as many as 10,000 over the next decade, a new
“living-learning” community will be built to provide necessary
residential and academic spaces for students.
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UIC’s new student community opening Fall
2019 (Photo: Business Wire)
A groundbreaking ceremony for the 10-story tower took place on
Jan. 16, at 1:00 p.m. near Harrison and Morgan streets. The
building will stand along I-290 adjacent to the Chicago Transit
Authority’s recently renovated Peoria Street Bridge and Blue Line
Station, with views of Chicago’s skyline.
The $100 million facility is part of a public-private
partnership with American Campus Communities (NYSE:ACC), an Austin,
Texas-based company and the nation’s largest developer, owner and
manager of high-quality student housing communities. The project is
financed primarily through a tax-exempt bond issuance with
Collegiate Housing Foundation, a non-profit 501c3 organization,
serving as the borrower and owner of the project. The development
was designed by Chicago-based SCB architects.
“This new facility will revitalize campus housing and provide
much-needed amenities to our students,” said UIC Chancellor
Michael Amiridis. “By creating innovative public-private
partnerships we are able to address our capital infrastructure
needs in the current fiscal environment.”
By the time the building is finished in July of 2019, it will
hold 83,000 square feet of residence space, housing 550 beds in a
mix of traditional dorm rooms and suite-style units. Currently,
there are nine dorms on the UIC campus, the last built in 2007.
In addition, the building will house 16,000 square feet of
shared spaces including lounges for studying and student
interaction, offices, laundry rooms, a fitness center, a 10th-floor
sky lounge, as well as 1,600 square feet of retail space expected
to house a coffee shop.
The plans also call for 51,000 square feet of academic space in
the structure, including three large lecture halls, four
classrooms, several small group study rooms, a tutoring center,
computer stations and collaboration spaces.
“The new Academic and Residential Complex will give our students
a place where they can engage and interact with their peers in an
inviting, welcoming environment in the heart of Chicago and the
West Loop neighborhood,” said Vice Chancellor for Student Affairs
J. Rex Tolliver. “Enhancing the student experience is one of our
top priorities and it’s what makes UIC a first-rate option for
students and their families.”
“UIC is a forward-thinking educational institution, fiercely
pursuing its mission set forth by Chancellor Amiridis to provide an
innovative residential experience for its students,” said Jamie
Wilhelm, American Campus Communities executive vice president of
public-private partnerships. “We’re thrilled to partner with UIC to
bring one of the leading mixed-use student developments in the
country to fruition.”
The project is part of a new decade-long master plan to bolster
the physical development of UIC. The plan is in the final stage of
development and addresses the university’s capital infrastructure
needs as total enrollment – including graduate and professional
students – continues to grow, exceeding 30,500 students this fall
for the first time in UIC’s history. Undergraduate students also
showed an 8.3 percent increase from 2016 figures, including a 23
percent increase in new freshmen.
To meet the needs of the increasing number of students enrolled
in engineering and computer science programs, UIC also broke ground
in November for a 50,000-square-foot Engineering Innovation
Building that will house instructional space, research labs and
staff offices. It will also include the university’s first high-bay
structural research lab where researchers can perform tests on
large-scale structures.
The building, near Taylor and Morgan streets, will concentrate
the College of Engineering in one area on the east side of campus
by the fall of 2019. It will provide room for the chemical,
mechanical and industrial engineering, as well as the civil and
materials engineering departments.
Additional infrastructure projects are in the planning phase and
will be presented as part of the overall master plan later this
spring.
About UIC
The University of Illinois at Chicago is a major research
university located in the heart of one of the world’s greatest
cities. Ranked 23rd in the nation among public universities by the
Wall Street Journal/Times Higher Education, UIC is Chicago’s
largest and only public research university with 30,500 students,
and an integral part of the educational, technological and cultural
fabric of Chicago. UIC is recognized as one of the most ethnically
rich and culturally diverse universities in America. With 15
academic colleges in all, including seven health science colleges,
UIC prepares professionals in all areas of study and contributes to
economic development of Chicago and the state of Illinois.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality student housing communities in the
United States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction
management and operational management of student housing
properties. As of September 30, 2017, American Campus Communities,
Inc. owned 166 student housing properties containing approximately
102,500 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consisted of 204
properties with approximately 131,300 beds.
Visit www.americancampus.com.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the applicable federal
securities law. These statements are based on management’s current
expectations and assumptions regarding markets in which American
Campus Communities, Inc. operates, operational strategies,
anticipated events and trends, the economy, and other future
conditions. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict.
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