EdR has started construction on College View, a mixed-use development on the campus of Mississippi State University (MSU).
Plans call for construction of a multi-phased development that includes 656 residential beds for upperclassmen in Phase I, with delivery in the fall of 2019. College View will also feature 46,000 square feet of retail and commercial space, recreational amenities, an outdoor entertainment zone, a 7,000-square-foot day care center, and parking. Subsequent phases are possible pending further market analysis, according to EdR.
The development will be financed through EdR's on-campus equity plan, The ONE Plan. The ONE Plan, EdR explains, uses the company's equity and financial stability to fund projects on university land. This program gives the university access to a single trusted partner, and helps create substantial long-term financial benefits for EdR and its partner university.
"We are honored to start this development that will positively impact both Mississippi State and the overall community of Starkville," said EdR CEO Randy Churchey, in a statement. "We have consistently seen that new on-campus housing developed by EdR helps our partner universities to increase enrollment, improve retention and generate a stronger sense of community and engagement with the campus."
EdR owns, develops and manages collegiate housing across the country. The firm is a self-administered and self-managed real estate investment trust that owns or manages 83 communities with more than 44,700 beds serving 52 universities in 26 states.
"We believe that our partnership with EdR will help us meet the needs of our students, and College View will also become a destination for members of the community, alumni and other visitors to Starkville and Mississippi State," said MSU president Mark E. Keenum. "I appreciate the support of the Board of Trustees as we have worked steadily over the past three years to bring this first-of-its kind project to a Mississippi university campus."
