In order to battle a rising need for on-campus housing, the University of Minnesota is planning to build a new dorm on the current site of the 1701 University Avenue SE classroom building.
The residence hall is expected to cost about $38 million and will house primarily first-year and transfer students. University administrators hope to have the building, which would house up to 650 students, ready for the 2013 fall semester.
The classroom building and the parking lots behind it had been targeted for years as a potential site for development, said Orlyn Miller, the director for Capital Planning and Project Management. The proximity to campus and Dinkytown make it a prime candidate for student housing, Miller said.
The UniversityâÄôs Twin Cities campus has 51,659 students, the second-most in the Big Ten, but has the third-fewest spots available in on-campus housing, Associate Director of Housing & Residential Life Mannix Clark told Finance & Commerce.
If the project moves forward, the classroom building would be torn down.
The $38 million is a rough estimate based upon the cost of past projects, Miller said. The University would pay for the demolition, design and construction through bonds to be paid for by rent once the dorm opens.
The University is seeking a firm for the âÄúpre-designâÄù work to decide upon the amount of units and what amenities the building will house and determine a better cost estimate.