Construction of a $55 million facility that would provide on-campus housing for graduate students at the Rutgers University campus here was approved Tuesday by the Board of Governors.
The student housing project will place a 12-story, 161,653-square-foot building with 102 units in the city’s University District area. The new housing facility will accommodate 350 graduate students and will be located on the southern 300 block of Cooper Street. Approximately 7,000 square feet of retail space on the ground level will be incorporated into the project.
Construction is expected to begin during early spring, with occupancy scheduled for August 2012. The project will be financed by Rutgers. Under a project development agreement approved by Rutgers, the Camden County Improvement Authority will manage construction of the building on behalf of Rutgers. The CCIA is in negotiations to secure the site. Upon completion, the site and facility will be owned by Rutgers.
Click here to read the full story…
To receive South Jersey business news updates, click here to sign up for SNJDC’s Afternoon Break.