BBCS, Provident Resources Group break ground on mixed-use project in Oklahoma
July 22, 2017 – Balfour Beatty Campus Solutions (BBCS) and Provident Resources Group have broken ground on the first phase of a mixed-use project for the University of Oklahoma (OU).
The $194m mixed-use development includes the construction of four separate mid-rise buildings.
The development will provide 1,231 beds, parking garage and 40,000 sq ft of integrated dining, shopping, entertainment, fitness, academic and co-curricular spaces, and a parking space for 1,000 vehicles.
Located on over 10 acres in the southern sector of OU’s campus in Norman, the project will expand the University of Oklahoma’s options for on-campus living for upper-class students as part of a public-private partnership (P3).
JE Dunn Construction’s Oklahoma City office is heading the project’s design/build team, in partnership with Clark Nexsen of Charlotte, North Carolina and Studio Architecture of Oklahoma City. RBC Capital Markets is the financial underwriter for the project.
Construction on the project is scheduled to be completed in August 2018, ahead of the 2018-2019 academic year. University of Oklahoma and Balfour Beatty Communities will jointly operate and manage the housing part.
University of Oklahoma executive vice president and vice president for administration and finance Nick Hathaway said: “Together with the new Dunham and Headington Residential Colleges, this project is going to establish an exciting, new, engaging on-campus living experience at OU designed for upperclassmen. Dunham and Headington Colleges will be over 95% full on day one.
“There is great demand to live on-campus at OU and this project will make it even more exciting for upperclassmen. This dynamic public-private partnership allowed OU to build these exciting new high quality student facilities with great attention to cost reduction.”