NEW BRUNSWICK, N.J. (AP) — Rutgers University plans to launch a $295 million campus building project as part of a public-private partnership.
university's Board of Governors and Board of Trustees agreed Wednesday
to allow administration officials to start formal negotiations with the
New Brunswick Development Corp.
The proposed project would include
a 150,000-square-foot academic building; a residential honors college;
an 800-bed student residence hall, with street-level retail shopping and
dining, and a new campus parking deck off George Street.
project would be paid for through residential and dining fees, general
operating revenues and state tax credits secured by the development
company. Officials say the project will help the university meet growing
demands, and help attract and retain faculty and students.
If approved, the project would likely be completed by fall of 2016.