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New $100 Million Residential/Academic Complex Breaks Ground at University of Illinois at Chicago

10-Story Tower to House 550 Beds, 51,000 SF of Academic Space Following June 2019 Delivery
January 22, 2018
The University of Illinois at Chicago has partnered with a leading mixed-use developer to construct a new academic and residential complex in light of record enrollment.

Austin, TX-based American Campus Communities (NYSE: ACC) broke ground last week on the new $100 million "living-learning" community - the first new dorm to be developed on campus in more than a decade. The project is being 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.

Designed by local firm SCB Architects, the 10-story complex will house 550 beds in both traditional dorm rooms and suite-style apartments, as well as 16,000 square feet of shared space to include lounges, offices, laundry rooms, a fitness center, a 10th-floor sky lounge and 1,600 square feet of retail space that will be home to a coffee shop.

Additionally, the project will incorporate 51,000 square feet of academic space to include three lecture halls, four classrooms, small group study rooms, tutoring center and computer stations.

“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.”

The project is being developed near Harrison and Morgan streets along I-290 and next to the Chicago Transit Authority’s recently renovated Peoria Street Bridge and Blue Line Station. Construction is slated to wrap up in July 2019.
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