News Release

BOISE STATE NEWS / April 25, 2008

Boise State Selects American Campus Communities for Planning Phase of More Student Housing

Boise State University has selected American Campus Communities, Inc., one of the nation’s largest owners, managers and developers of high-quality student housing properties, to proceed with the planning stage of a new student housing development.

As part of Boise State’s campus master plan, the new student housing would be located across the street from the parking garage on Lincoln Avenue between University Drive and Beacon Street. The first phase could provide up to 600 beds by the fall of 2010 in potentially a 2,000-bed community. The development is contingent upon approval of the State Board of Education.

“Our student population seeks more residential living and learning communities on the main campus,” said Bob Kustra, president of Boise State University. “This initial step allows us to address an urgent need and plan for our future growth as a metropolitan university. Through this private-public partnership, we are developing a multi-phased project that could ultimately double our housing capacity.”

Boise State’s campus housing is currently at capacity with 2,209 students. The former University Inn has been used for overflow housing, but the building has been designated as the future site of a new College of Business and Economics complex. In 2004, Boise State increased housing capacity by 63 percent when it opened new residence halls along the Boise River Greenbelt and a suite-style complex on University Drive.

“University housing places our students in the center of campus life, helping them to make the most of their college experience,” said Michael Laliberte, vice president for student affairs. “Our housing is much more than just a place to sleep. We are developing residential communities that bring together students with similar academic and extracurricular interests.”

Under the American Campus Equity transaction structure, American Campus invests its own equity to own on-campus housing via a traditional long-term ground lease. This allows Boise State to increase its housing supply with modern, well-amenitized student housing under a credit-friendly structure, preserving the university’s credit capacity to fund academic and research facilities. Boise State will be the second university to utilize the ACE program. The company’s first ACE transaction is at Arizona State University where the company is building three components of student housing totaling 5,000 beds.

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Media Contact: Frank Zang, University Communications, (208) 426-5391, frankzang@boisestate.edu

Boise State University’s new Finish in Four program guarantees that eligible students who follow a planned course of study can complete their degree in four years. If not, Boise State will pay for the additional required courses. More information about Boise State’s graduation guarantee can be found at www.boisestate.edu/finish4. 

 

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Last reviewed on Friday, April 25, 2008