American Campus Communities and the University of Illinois at Chicago (UIC) recently cut the ribbon on the university’s new Academic and Residential Complex. Part of a $100-million public-private partnership between UIC and American Campus, the 200,000-square-foot complex includes a two-story academic building and a 10-story residence hall.
Built on the site of a former four-acre parking lot, the complex provides 83,000 square feet of residential space in traditional two-person dorm rooms, as well as semi-suite style units. Unlike UIC’s other residence halls, the new one also includes classroom space.
The new building, located near the UIC-Halsted Blue Line CTA stop, broke ground in January 2018. Its opening comes as UIC’s projected new enrollment is expected to climb by up to 10,000 students over the next decade.
The project was financed primarily through a tax-exempt bond issuance, with nonprofit Collegiate Housing Foundation serving as the borrower and owner.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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