The California State University will review a new master plan this week that proposes to develop a 1.3 million-sf space, expanding campus buildings by 30%. The expansion will focus primarily on student and faculty housing. The original plan involved building a 2.5 million-sf research park that would accommodate both commercial and academic uses. However, as the economy faltered, the idea was no longer reasonable to the university.
The new housing units will be a welcome addition to the campus, where demand for on-campus housing is extremely high. The plan proposes to demolish the existing housing and replace the older buildings with higher complexes. The 10-year plan calls for construction to start as soon as next year, and estimates the cost of the first phase to be $215 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.