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South Residence Hall

 

VISION
The South Residence Hall, completed and available for student occupancy for the Fall 2012 semester, is a 531-bed student housing facility covering approximately 1.2 acres of land owned by the University of Akron and ideally located on its main campus in Akron, Ohio.

 

PROJECT OVERVIEW
The total square footage of the project including all common areas is approximately 146,000 square feet. The 6-story student housing facility provides shared living accommodations for students.

 

DELIVERY
Two unit options will be available, including: a double occupancy room with an in-suite, shared bathroom and single suites that offer each student a private bedroom and in-suite, shared bathroom for two. Students will be provided with his or her own bed, desk, desk chair, wardrobe, and dresser. The Project will also provide students with Internet, cable TV service, telephone service (upon request), air conditioning, meeting and recreational space, computer labs, wastebaskets, recycle bins, free laundry facilities located on the first floor, as well as study and lounge areas on each floor.

 

The South Residence Hall was completed and available for student occupancy for the Fall 2012 semester.


FINANCING
Signet’s experienced finance team provided multiple public-private financing alternatives for the project, including a tax-exempt bond financing structure that provides the University with ownership of the project at the end of the lease term. This approach also provided the University with a low cost of capital for the new residential hall and millions of dollars in savings on construction materials, while also preserving the University’s ability to control all aspects of project design and construction, day-to-day management of the property, ownership of the land, and fully transferred all design, construction, and delivery risk to Signet for the project.

 

icon South Residence Hall Data Sheet


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