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May 6, 2005

CONSTRUCTION BEGINS ON FIRST RESIDENCE HALL BUILT ON CAMPUS IN CCNY’S 158-YEAR HISTORY

NEW YORK, May 6, 2005 – Construction has begun on the first residence hall to be built on the campus of The City College of New York (CCNY) in its 158-year history. ThisResidence Hall Site milestone was celebrated today with a groundbreaking ceremony at the project site.

The 180,000 square-foot facility, which will rise on the southeast corner of the campus at St. Nicholas Terrace and West 130th Street, will provide accommodations for approximately 600 students and include a limited number of apartments for faculty. It is scheduled for completion in August 2006, in time for the Fall 2006 semester. The project is a public-private partnership with funding raised through the capital markets.

“Historically, City College has been – and will remain – primarily a commuter school,” said CCNY President Dr. Gregory H. Williams. “However, some of our students want to live closer to campus because they spend long hours working in laboratories or design studios. Making housing available on campus gives them an affordable alternative to late-night subway rides back to the outer boroughs.”

“Because of its programs in science, engineering, architecture and biomedical education, CCNY occupies a unique position within our system,” explained Dr. Matthew Goldstein, chancellor of The City University. “Having a residence hall on campus makes CCNY more attractive to students interested in these fields. In addition, the students who come as a result are more likely to live in New York after graduation and contribute their talents toward building an even greater city.”

The residence hall will consist of 164 fully furnished, air-conditioned apartments in four configurations: studio, one bedroom, two bedroom and four bedroom. All units will have kitchen facilities including a cook-top, microwave, full-size refrigerator, sink, cabinets and countertop space. Many units will include separate living room and dining areas. Five of the apartments will be made available to college faculty. There will also be an apartment for the building manager.

Amenities provided in the building include: student lounge space, a coffee vendor station, a vending machine area, multipurpose/classroom space, a conference room, a fitness center, a central laundry room and a community kitchen facility. A large protected front lawn and a patio/picnic area overlooking St. Nicholas Park and Harlem will enhance the residential hall’s appeal.

The building consists of three sections with heights rising to five, eight and 11 stories. The five-story wing faces West 130th St. and approximates the scale of existing apartments on the south side of the street. The other sections parallel St. Nicholas Terrace and the park.
During the 1940s and 1950s, The City College had a dormitory in the former Hebrew Orphan Asylum building that closed in 1955. Hunter College, the only other CUNY college that provides student housing, has a residence hall on East 25th Street in Manhattan that previously was a dormitory for New York University nursing students.

The land on which the structure will rise is owned by the Dormitory Authority of the State of New York (DASNY) and is being leased to Educational Housing Services, Inc. (EHS), a not-for-profit organization that provides privatized student housing throughout New York City. City College has selected Capstone Development Corp. (CDC), a national student residence developer based in Birmingham, Ala., to coordinate the financing and design, construct and manage the facility. Capstone has deep expertise in all phases of residence hall planning and development and extensive experience managing student housing.

To finance construction, EHS borrowed $69 million of 30-year bonds through DASNY to be repaid through the residence hall’s rental income. Once the bonds have been repaid, the facility will be transferred to CUNY.

Turner Construction is general contractor for the project, which has a construction cost of just over $44 million. Goshow Architects, a women-owned firm based in Manhattan serves as architect of record for the project with Design Collective Inc. of Baltimore serving as design consultant to Goshow.

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