TUCSON, Ariz.--(BUSINESS WIRE)--A creative series of chain reaction ribbon cuttings connected key areas of the multi-purpose Honors Village at the University of Arizona yesterday to commemorate the new living-learning student community.
Located in the North District of one of the University of Arizona’s four residential districts, Honors Village is a 6-story modern residential tower that provides suite and semi-suite units for more than 1,000 honors college students. The 341,292-sq-foot complex, developed by American Campus Communities (NYSE: ACC), provides on-site honors classrooms, collaboration spaces and offices for faculty and staff. Honors Village will also include a Recreation and Wellness Center incorporating a Campus Health Counseling & Psych Services (CAPS) neighboring building, a 370-space parking structure, and off-site improvements to the surrounding streets, sidewalks, and landscaping.
“By partnering with American Campus Communities, the University of Arizona was able to apply creative solutions to develop a living-learning community that is an immersive honors college experience for our students,” said the University of Arizona President Dr. Robert C. Robbins. “ACC’s expertise and knowledge, combined with our commitment to academic success, are demonstrated through this collaboration that we hope will further contribute to students’ skills, academic journey, and personal achievements in tomorrow's careers.”
Designed by STG Design, Honors Village is pursuing LEED® Certified Silver. This new residential community offers first-time and returning honors students a total of 1,056 on-campus beds in suites and in semi-suites.
“Honors Village provides the essential resources and community atmosphere to keep up with the demands and needs of talented Honors students at the University of Arizona while offering price points comparable to the market,” said Chief Executive Officer of American Campus Communities Bill Bayless. “We look forward to continuing our long-term partnership efforts with the University of Arizona to offer quality purpose-built communities that fuel student academic and personal achievement."
On-site amenities include indoor recreation rooms, an interior courtyard, student lounges, community kitchen and in-dorm dining at Arizona’s newest eatery ‘85 North. All amenities, including the dining facility’s first floor, are open to all students, faculty, and staff.
"This project has revitalized the northern edge of the University of Arizona campus and has helped pay for improvements to city infrastructure, creating a win for the university, the city, and the neighborhood," said Tucson Mayor Jonathan Rothschild.
To be a resident at Honors Village, students must apply and be admitted to the Honors College by first completing the University of Arizona admissions application. The profile of this year’s 2019 UArizona’s honors students boast an average GPA of 3.89, an average SAT comp of 1409 and an average ACT comp of 31, all showing an increase over last year’s entering class.
“Living in Honors Village gives me the opportunity to belong to a strong and supportive community,” said Chris Brown, an Honors junior with a world-leading management information systems major. “Between my extra curricular activities, class time and work, the amazing amenities and learning spaces, Honors Village makes it easy to help me be my best self and to prioritize studying.”
This is the first public-private development partnership for the University of Arizona with American Campus Communities. The transaction for the Honors Village residential tower was structured under the American Campus Equity (ACE)® program, a public-private partnership that provides on-campus housing to universities without using school funds or tax-payer dollars. Universities are able to expand and modernize their student housing portfolios without using their financial resources while allowing ACC to offer affordable rents to residents by delivering high-quality student housing with lower development costs and operating expenses.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. As of September 30, 2019, American Campus Communities owned 168 student housing properties containing approximately 113,400 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 205 properties with approximately 140,300 beds. Visit www.americancampus.com.
About the University of Arizona
The University of Arizona, a land-grant university with two independently accredited medical schools, is one of the nation's top public universities, according to U.S. News & World Report. Established in 1885, the university is widely recognized as a student-centric university and has been designated as a Hispanic Serving Institution by the U.S. Department of Education. The university ranked in the top 25 in 2018 in research expenditures among all public universities, according to the National Science Foundation, and is a leading Research 1 institution with $687 million in annual research expenditures. The university advances the frontiers of interdisciplinary scholarship and entrepreneurial partnerships as a member of the Association of American Universities, the 62 leading public and private research universities in the U.S. It benefits the state with an estimated economic impact of $4.1 billion annually.