Balfour Beatty closes PPP deal for US student village
April 08, 2018 – Balfour Beatty Campus Solutions has reached financial close for a student village project in Texas, USA.
The housing will be built on the main campus of Texas Woman’s University (TWU), America’s largest university primarily for women.
The public-private partnership (PPP) project, valued at US$75.5m (£53m), will deliver additional student housing and amenities targeted at the university’s second-year students.
Construction of the project will be led by Texas-based Hill & Wilkinson, with architecture led by Stantec. Collegiate Housing Foundation, a national non-profit entity, is the project’s residential facility owner through an issuance of project-based, tax-exempt debt financing.
The development will comprise three lots of four- and five-storey Georgian-style buildings that will include 872 student beds configured in pod-style living quarters. In addition, three separate apartment units will be available for resident directors. The community will also feature a fitness centre, lounge and study areas, multipurpose space, offices for the university’s Housing & Residence Life department and a variety of gathering spaces.
Balfour Beatty Campus Solutions senior vice president Josh Smith said, “Texas Woman’s University has set forth an exciting vision to develop a community that will deliver a transformative on-campus living-learning experience for students. We are thrilled to work with TWU and our partners to leverage the public-private partnership model and bring this important new infrastructure to their Denton campus.”
The community is scheduled to be delivered in time to accommodate student occupancy for the start of the 2019/20 academic year in August 2019.