Trustees Approve Unique Plan for New, $20.8 Million Residence Building on Campus
Akron, Ohio April 23, 2003 — The University of Akron's Board of Trustees today approved the design and financial package for the building of a 118,000-square-foot, $20.8 million building that will combine space for housing and academic courses for students in the University's Honors Program.
Tentatively called the Honors Student Housing building, the new structure will comprise two wings joined in an “L” shape. It will be built at the southwestern corner of College Street and East Buchtel Avenue.
A six-story residential wing will front on College Street, across the street from the University's new Arts and Sciences Building. This residential wing will house approximately 300 students. A two-story academic programs wing will front on East Buchtel Avenue.
Construction is expected to begin in June 2003 and, following a rapid construction schedule, the building is expected to ready for occupancy by August 2004.
“This building will have state-of-the-art accommodations for our students, and will provide a beautiful new gateway to the center of our campus,” says Ted Curtis, vice president for capital planning and facilities management.
The design for the building includes incorporating Orr Residence Hall as an adjunct wing, and establishing a lawned courtyard adjacent to it.
The new residence hall is to be built in a unique financial arrangement with Signet Development Ltd. Signet will act as project manager, and will hold title to the building. It will lease the building to the University for 25 years then will sell the building to the University for $1.
In other actions, Trustees:
*Received a report saying the University fundraising efforts have returned $18.6 million in the first three quarters of this year, ensuring that the 2002-03 fiscal year will be the University's third highest fundraising year in its 133-year history.
*Created a graduate certificate in geographic information sciences (GIS) in the Buchtel College of Arts and Sciences' Department of Geography and Planning. The certificate will provide graduate-level instruction to students who are not completing a master's degree in geography so they will be proficient in it.
*Created a Certified Pediatric Nurse Practitioner/master of science in nursing degree for the College of Nursing. This degree option will provide a way for a certified pediatric nurse practitioner with a bachelor of science degree to progress to a master of science degree in nursing.