Financial negotiations have concluded for the culminating and final phase of Indiana University of Pennsylvania's Student Residential Revival.
Construction is under way for the fourth phase of the $270 million project, the Crimson Suites, a 596-bed facility along Maple Street between Pratt Drive and Eleventh Street. The building will be completed for the Fall 2010 semester.
The Residential Revival is a public-private collaboration between IUP and the Foundation for IUP that replaces fourteen of IUP's residence halls with buildings that integrate a “living-learning” philosophy into their design.
A groundbreaking ceremony for this final phase will take place July 7, 2009.
“There has been some extraordinary effort for this final phase, but it has been well worth it,” Foundation for IUP President Daniel Prushnok said. “It is especially satisfying to have this project financed locally. First Commonwealth will take the lead, with participation from S&T Bank, Marion Center National Bank, and Farmers & Merchants Bank of Western Pennsylvania.
“Each phase of this project has presented new challenges, but the members of the Foundation board of directors—particularly the Housing Committee—in conjunction with university personnel, have taken the time to do the work right in order that this final building will be completed on time and within construction and budget expectations.”
Lawrence, Scranton and Shafer halls—known as the “Governors Quad”—will be razed to make way for the new construction. Maple Street from Pratt Drive to Eleventh Street will be closed through August 2010 in order to accommodate construction.
“Working together, the university, the Foundation for IUP, and their many partners have accomplished a most difficult and monumental achievement,” Dr. Tony Atwater, IUP president, said.
“During the height of a national economic recession, when the chips were most decidedly down, IUP, FIUP, and our partners have demonstrated how to achieve success in the face of numerous obstacles and overwhelming odds. Consequently, we are on the way to completing an Indiana campus transformation known as the Student Residential Revival. I could not be happier.
“This project not only meets our primary goal of serving our students, but also enhances the community by attracting jobs and advancing the economic climate of Indiana Borough and Indiana County.”
Up to four hundred individuals are working on the Residential Revival construction project, and between 35 to 40 percent of those workers are from the Indiana region. Approximately 12 percent of construction spending for the first three phases of the project has gone to regional subcontractors.
The Foundation for IUP, a nonprofit entity, will own the buildings once completed. The foundation is coordinating the construction of the project through developer Allen and O'Hara of Memphis, Tenn.
Massaro Corp. of Pittsburgh is the general contractor for the project. The buildings were designed by WTW Architects of Pittsburgh.