This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

EdR And The University Of Kentucky Sign Agreement For Delivery Of An Additional 2,300 Beds

EdR (NYSE:EDR), a leader in the ownership, development and management of collegiate housing, today announced the completion of the contracting phase with the University of Kentucky (UK) for Phase II — a public-private partnership to construct and operate five additional residence halls with more than 2,300 beds for delivery in the summer of 2014.

The $133.7 million cost of Phase II will be financed through EdR’s On-Campus Equity Plan — The ONE Plan SM — which uses the company’s equity and financial stability to fund projects on university land. This gives the university access to a single trusted partner for revitalizing on-campus housing while providing affordable rents for students.

Phase II continues the university’s master plan to systematically replace outdated residence halls with modern, state-of-the-art living accommodations that will serve the needs of the university and its students for many years to come. Future phases in consideration include the systematic addition of more new residence halls in the next five to seven years which will bring UK’s total on-campus housing to approximately 9,000 beds.

With Phase II construction beginning in November 2012 and the ongoing construction of Phase I — a 601-bed residence hall — more than 2,900 beds will soon be under construction on UK’s campus at one time making this project one of the largest and quickest housing expansions in student housing history.

“Revitalizing our campus infrastructure — in this still challenging economy — will require us to be innovative and creative,” said Dr. Eli Capilouto, president of the University of Kentucky. “This partnership with EdR underscores our commitment to move forward creatively but responsibly. It is one more way that we are honoring the Kentucky Promise for another generation and for the Commonwealth that we serve.”

This comprehensive housing solution fulfills the goal of the Kentucky Promise which is to enhance undergraduate education, offer more opportunities to young Kentuckians through scholarships and continue a nearly 150-year legacy of education, research and service to the commonwealth.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,819.80 -108.40 -0.60%
S&P 500 2,079.94 -9.52 -0.46%
NASDAQ 4,918.4020 -20.9250 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs