Regents Approve Student Housing RFQ
March 2004
The University of Michigan-Flint today began the first phase of a process that may bring student housing to the campus. The University is announcing that it is seeking a developer partner to design, construct, furnish and manage a student housing apartment facility of approximately 240-300 beds. With a target date for occupancy of July 1, 2006, the facility would bring the first student housing units to the University of Michigan-Flint campus. The development services sought are engineering, design, and construction services; procurement of furnishings, fixtures, and equipment; coordination of project financing; and facility management.
The University has issued a Request for Qualifications in which it states that it will lease to the developer partner a campus site for the facility and will act affirmatively to encourage students enrolled by the University to reside in the facility. It is further anticipated that the student housing will be financed by tax-exempt revenue bonds and that resulting debt will be serviced by rental income generated by the facility.
However, the alternative of ownership by the University and financing via debt issued by the University has not been ruled out.
The deadline for submitting the Request for Qualifications is at the close of business on May 14, 2004.