Sept. 21, 2023
University of Hawaiʻi at Mānoa
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The funding for a $170-million housing facility for graduate students at the University of Hawaiʻi at Mānoa has been secured from investors paving the way for construction to begin in October. The project is UH’s second public-private partnership (P3) to build modern student housing facilities on the Mānoa campus using minimal public funds. The Residences for Graduate Students at UH Mānoa is scheduled to be completed in fall 2025.
The facility will consist of two buildings (18 stories and 12 stories) with 316 units (studios, two-, three- and four-bedroom units), 558 beds, a childcare facility, retail space, bike storage, study rooms, laundry facility, mail and package room, outdoor amenity decks and on-site management. It will be located on Dole Street between the East-West Center and the Mānoa stream, across the street from Frear Hall. As a P3 project, the facility is being constructed by private partners with external financing and will be privately operated for UH students.
Collegiate Housing Foundation (CHF), a non-profit tax exempt organization that owns student housing on campuses throughout the country, will be the owner and operator of the Residences for Graduate Students at UH Mānoa.
“The ability to execute a second P3 on the heels of RISE is proof of UH’s commitment to finding alternative ways to modernize facilities with minimal cost to the taxpayer and our students and their families,” said UH President David Lassner. “This project is also enhancing the student experience for our graduate students who play an important role in making UH Mānoa one of the best universities in the country.”
CHF secured the financing through tax-exempt bonds that will be repaid with the rental income of residing students at the facility. CHF has arranged for Greystar Real Estate Partners to develop and manage the facility. Greystar has contracted Swinerton Builders to construct the facility, completed the project design, and obtained discretionary approvals to begin construction.
UH is providing $8 million for pre-development and pre-construction work, $2 million a year towards rent abatement towards keeping rents more affordable, and a 45-year property lease. The State of Hawaiʻi School Facilities Authority (SFA) has contributed $10 million of public funds towards the construction of the childcare center to be located in the facility.
The Residences for Graduate Students at UH Manoa is being designed to meet Leadership in Energy and Environmental Design (LEED) Silver Certification to help the 10-campus system reach its goal of net-zero energy by 2035.