CSU Approves Financing for New Student Housing Complex at Cal Poly

California State University Trustees are expected to vote tomorrow on issuing $299 million in bonds for construction of Cal Poly's 2,700-bed Student Housing North complex.

The Trustees Committee on Finance voted today to approve issuing the CSU system-wide revenue bonds to finance the Cal Poly project; the matter goes before the entire board in their Wednesday meeting in Long Beach.

With the board's approval Cal Poly will enter into final contract negotiations with Clark Design/Build of California, Inc, the construction firm which offered the successful bid. Clark will be the single contractor on the project, which is scheduled to begin in late 2005 and be completed in 2009.

The design of the complex provides for three residential village or neighborhood areas to house the approximately 2,700 students on 30 acres north of Brizzolara Creek. The complex includes two parking structures totaling 1,900 parking spaces, commercial 'village' areas with retail and food service space as well as a recreation center with a swimming pool.

The Student Housing North apartment units will offer full kitchens, laundry areas, study areas, utilities including high-speed internet access, weekly cleaning service for kitchens and bathrooms, and trash collection.

"The size of the project offers Cal Poly a unique opportunity to create a 21st-century living and learning community for our student body," said Cal Poly President Warren J. Baker. He noted that the campus Master Plan calls on the university to house one-third of its students on campus.

Vice President for Administration and Finance Larry Kelley said the university expects the new units at Student Housing North to be in demand. The Cerro Vista apartment-style complex for sophomores on campus opened in fall 2003; this year there are over 1,600 applicants for the 804 spaces for fall 2004.

Right now there are roughly 3,500 students living on campus. The Student Housing North complex, when completed, will more than double that, bringing the total to approximately 6,200.

"In addition to meeting our commitment to students, we believe this will also benefit the community as well by easing the pressure on workforce housing, and reducing the number of daily auto trips to campus," Kelley said.

The entire design and construction program is being managed by Brookwood Program Management. The Bridging Method, developed by Brookwood's CEO George Heery, is being used as part of the overall program management of the project. Bridging is a hybrid of the traditional "design-bid-build" and "design-build" methods of contracting, retaining those features of each which are most favorable to the project owner.

Construction on the housing is expected to begin in late 2005, after removal and relocation of College of Agriculture facilities currently on the 30-acre project site. The $299 million project includes the cost of the Ag facilities removal and relocation, upgrading the electrical substation in the area, and upgrading sewer, water, roads, bridges. Rent from future student tenants will repay the bond financing.

The first phase of Student Housing North is expected to be ready for occupancy in the fall of 2008. The balance of the student housing is planned to be open in fall 2009.

Details and updates about the progress of the project as it goes along will be posted on the Cal Poly Facilities Planning Web site at: http://www.facilities.calpoly.edu/homefp.htm.

For more details about Clark Construction, visit the company's Web site at: http://www.clarkconstruction.com/.

For more details about Brookwood Program Management, visit the company's Web site at: http://www.brookwoodpm.com/home.htm.

Media Contact: Larry Kelley (805) 756-2171