Stalled Project at Utah State Gets Capital Injection
A funding issue that halted a student housing project at Utah State just got a shot in the arm when UC Funds provided a $21M adaptive reuse/heavy rehab loan to restart the project. The ground-up project near Utah State University will feature an 80-unit, 480-bed student housing community in two buildings connected by a skybridge and covered garage. The property is within two blocks of Utah State's campus. The property broke ground in 2013 and was slated for a 2014 completion, but construction stopped abruptly this summer. Local media reported that the project had already started pre-leasing and should be completed next year.