The facility will be located west of Education Drive. The approximately 376-bed facility will be constructed on a portion of the existing Fire Tower Training Facility. The tower is being relocated to the Hutton Street Campus.
From San Juan College:
After much anticipation, student housing will soon become a reality at San Juan College in the fall of 2020. This is one more step in the college’s commitment to enhance student success.
The facility will be located west of Education Drive. The approximately 376-bed facility will be constructed on a portion of the existing Fire Tower Training Facility. The tower is being relocated to the Hutton Street Campus.
In the first phase, the three-story, fully furnished apartment units will feature two- and four- bedrooms. An indoor commons area includes a student lounge, on-site laundry facilities, a reception area, restrooms and a conference area for student groups to study. Students will also will appreciate an outdoor commons area where they can meet up with friends or study.
In a survey conducted by the Scion Group, one of North America’s leading owners, operators, and advisors of student housing, 96 percent of full-time single student respondents indicated they would be interested in student housing.
“Housing helps students to achieve a greater level of success,” says San Juan College President, Dr. Toni Hopper Pendergrass. “Students in campus housing demonstrate above average persistence and retention rates. They also have improved peer interactions, enjoy additional mentorship opportunities as well as academic engagement, all of which contribute to higher grade point averages and graduation rates.”
The San Juan College Board of Trustees approved the housing project in July utilizing Balfour Beatty Campus Solutions as the P3 development team. A P3 team consists of a developer that works in conjunction with an architect, a finance unit, a construction contractor and a housing management group.
Balfour Beatty has hired Stantec Architect for design and architectural services and FCI Constructors of New Mexico as the building contractor. They have also brought Collegiate Housing Foundation (CHF), a 501 (c) (3), into the project as the company who will provide the funding.
“Following governmental approvals, San Juan College will grant CHF a ground lease for the land where the student housing will be built,” explains Ed DesPlas, San Juan College executive vice president.
“CHF will issue the investment grade tax exempt bonds that will finance the roughly $23 million dollar project,” DesPlas continues. “Because CHF is providing the capital, they will serve as the project owner until the financing is repaid, which will take approximately 32 years. CHF will repay the financing from the rental revenues the housing generates. When the financing is repaid, the ground lease ends and the ownership of the facility will be transferred to San Juan College.”
During the first three to five years of the student housing operations, Balfour Beatty will act as property manager and provider of residence life programs. After this period the college will assume responsibility for property management and residence life programs.
Students are excited about the upcoming housing project. “On-campus housing is a great opportunity for both students and SJC to grow,” says Fernando Maqueda, San Juan College student government vice president. “I like the idea of a place where students can stay engaged.”
The project is expected to break ground this spring.
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