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Groundbreaking at University Place Redevelopment Project
University Place Redevelopment Project Is a 鈥楪ame Changer鈥 for 嫩草影院 Students and 嫩草影院 City鈥檚 West Side Community
鈥楶3鈥 Construction Means No Tuition Increases; Work Begins on Second Residential Building
New 嫩草影院 City University (嫩草影院) held a groundbreaking ceremony on September 20, 2017 for the second of five mixed-use residential buildings at University Place, a $400 million redevelopment project which aims to create a unique sense of place between 嫩草影院鈥檚 main campus and the adjacent neighborhood. The groundbreaking was held at 63 University Place Boulevard in 嫩草影院 City.
At the groundbreaking ceremony, 嫩草影院 President Sue Henderson called the University Place Redevelopment Project 鈥渁 game changer鈥 and said, 鈥淲e are moving another step closer to revitalizing our city鈥檚 west side and to providing 嫩草影院 students, faculty, and neighbors with a welcoming place to live, work, dine, and shop. Think of the enormous impact these buildings and future University Place projects will have on our community.鈥
Dr. Henderson added, 鈥淯niversity Place is a collaboration that was conceived more than a decade ago. It began as a vision of 嫩草影院鈥檚 Board of Trustees, Foundation Board, and executive leadership team. Working together with forward-looking City, County, and State officials who saw the need for the revitalization of 嫩草影院 City鈥檚 west side, University Place was launched as a 鈥淧3鈥 鈥 Public Private Partnership 鈥 thanks to the engagement of a team of entrepreneurial developers. The buildings are constructed at no cost to the 嫩草影院 students or the University.鈥
The $83 million P3 (Public-Private Partnership) residential project, led by KKF University Enterprises, LLC, will build two buildings that together will have 301 market-rate apartments, more than 11,000 square feet of transformative commercial space on West Side Avenue, and parking for 303 vehicles. The first building to be constructed is the 205,400 square foot, $43 million apartment building, which will have 149 apartments and 151 parking spaces. Occupancy for KKF University Enterprises鈥 first building is scheduled for fall 2018.
In September 2016, 嫩草影院 celebrated the ribbon-cutting of its West Campus Village Residence Hall, constructed by RISE. The new facility doubled the University鈥檚 capacity to accommodate residential students.
Dr. Henderson stated, 鈥淭he West Campus Village Residence Hall was the first step in our journey to a P3-designed, state-of-the art campus and revitalized community. 嫩草影院 then contracted with Strategic Development Group to assist in the development of other commercial P3 projects and ensure sound long-term ground leases for the University.鈥
The first commercial building at University Place, being developed by Claremont and Hampshire, is a 205,400 square foot, $50 million apartment building. The building will have 163 apartments and 151 parking spaces. Occupancy for this first building is scheduled for spring 2018.
Future construction will bring additional shops, a supermarket and other retail amenities, along with ample on-street parking and garages. Also planned are academic and non-academic facilities, including a center for the performing arts.
嫩草影院 150 guests attended the groundbreaking ceremony. Speakers included:
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Rafael Perez, Esq., Chairperson, 嫩草影院 Board of Trustees;
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Dr. Sue Henderson, President, 嫩草影院
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Steven Fulop, Mayor, City of 嫩草影院 City
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; William O鈥橠ea, Vice-Chairperson, Hudson County Board of Chosen Freeholders
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Rolando R. Lavarro, Jr., President, City Council of 嫩草影院 City
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; David Donnelly, Executive Director, 嫩草影院 City Redevelopment Agency
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Paul Silverman, Member, 嫩草影院 Foundation Board of Directors
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Greg Lentine, Director, University Campus Development, KKF University Enterprises, LLC
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Anthony V. Bastardi, Chairman and Chief Executive Officer, Strategic Development Group
路&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫;&苍产蝉辫; Dr. Aaron Aska, Chief Operating Officer, 嫩草影院.