Contact: Jim Laird
STARKVILLE, Miss.— Less than ideal spring weather did little to dampen the excitement today [March 26] as Mississippi State celebrated a formal groundbreaking for the College View development.
Officials from the university and Memphis-based EdR Collegiate Housing gathered under gray skies and cool temperatures at the construction site on College View Drive to officially mark the start of construction of the $67-million student housing project that also includes retail and commercial space.
“I’ve been looking forward to this day,” said MSU President Mark E. Keenum.
The first-of-its-kind project is the result of a multi-year effort by the university to address a demand for on-campus housing options for its growing enrollment. The public-private partnership with EdR gives the university the benefits of a new building without issuing bonds or assuming additional debt.
“We hope to be setting the standard for all the other colleges and universities in the state,” Keenum said.
He thanked and recognized members of the MSU team leading the College View project, including Vice President for Research and Economic Development David Shaw, Vice President for Student Affairs Regina Hyatt, University General Counsel Joan Lucas, Chief Financial Officer Don Zant and Fiscal Operations Analyst Les Potts.
He also thanked the State Institutions of Higher Learning Board of Trustees, Commissioner of Higher Education Glenn Boyce, the Mississippi Legislature, and Mayor Lynn Spruill and Starkville Board of Aldermen for their support, as well as EdR.
“We could not have a better partner than EdR,” Keenum said.
EdR Chief Executive Officer Randy Churchey echoed that sentiment in his remarks to the standing-room only audience.
“Working with the folks at Mississippi State University has been a pleasure and an honor,” Churchey said.
College View includes 656 residential beds in a combination of one-, two- and four-bedroom units for upperclassmen in Phase I, with delivery in the fall of 2019. It will also feature 46,000 square feet of retail and commercial space, recreational amenities, an outdoor entertainment zone, a 7,000-square-foot day care center, and parking. Subsequent phases are possible, pending further market analysis.
“I think it’s going to be a home run,” Churchey said.
EdR will finance, build and manage the College View development utilizing a 40-year lease of university land with a 10-year renewal option.
EdR (NYSE:EDR) is one of America’s largest owners, developers and managers of collegiate housing. EdR is a self-administered and self-managed real estate investment trust that owns or manages 85 communities with more than 45,100 beds serving 53 universities in 26 states. EdR is a member of the Russell 2000 Index, the S&P MidCap 400 and the Morgan Stanley REIT indices. For details, visit the company’s Web site at www.EdRtrust.com.
MSU is Mississippi’s leading university, available online at www.msstate.edu.