US-based Northeastern University in Boston has celebrated the structural completion milestone of the on-campus 825-bed student housing project.
The project is part of Boston’s Mayor Martin J Walsh’s initiative ‘Housing A Changing City: 2030.’ It includes the improvement of student housing for Boston’s university students.
Targeted to create 16,000 new undergraduate student dormitory beds, the project is a public-private partnership between Northeastern University and American Campus Communities.
Martin J Walsh said: “When complete, this new dorm will provide students with quality living spaces while returning important housing stock to the private market for Boston residents.
“Working with our partners in academia we are confident that we will be able to keep the dialogue open and build more dorms for undergraduate and graduate students alike.”
To be delivered next year, the $153.4m community will feature nearly 12,000ft2 of interior amenities and common area that includes social and recreational lounges, a fitness centre, Academic Success centre and a 2,200ft2 retail store.
The project’s financials were structured under the American Campus Equity (ACE) programme, which helps universities to expand and improvise their student housing amenities without university’s financial resources.
American Campus Communities CEO Bill Bayless said: “As the first developer-led student housing project in the city of Boston, we’re excited to work with Northeastern University, one of the nation’s most prestigious universities, in support of Boston’s leadership to address the need for live-learn, purpose-built residential environments for students.
“This student community marks the beginning of what we hope will be a highly successful partnership, and a true win for Northeastern University, its students and the City of Boston.”