Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 13, 2017

Project Name: Univ. of S. Carolina Campus Village Project
Year in Operation: 2025
Sector: Buildings
Subsector: School
Status: Project Definition / Programming
Type: New Facility
Description: The University is seeking to deliver a dynamic Campus Village (Village Project) which includes new housing communities along with dining, recreation, parking, academic and student support spaces. The Village is anticipated to include approximately 3,000 - 4,000 student beds in multiple 3-6 story residential buildings constructed of noncombustible materials. Parking to support this development will be a mix of surface and structured multi-story garages and may be adjacent to or beneath the housing units. The parcels designated for this portion of the Village are currently occupied by the Bates House, Bates West, Carolina Gardens, and Cliff Apartments residence halls, which are owned by the University. The scope of the project has been revised in 2016 and 2017 after conversations with the community, which resulted in smaller parking facilities and different phasing plans.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: The land is already owned by the University, and will be leased to the Developer. The structures will be designed, constructed, fully financed, and operated and maintained by a Developer, with ownership of all structures reverting to the University no later than at the end of the lease term. The existing four residence halls at the site will be abated and removed as part of the project.

Project Locations

Address: 1411 Whaley St
City: Columbia
State: South Carolina
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: An RFQ dated Sept. 23, 2015 describe the project. The University anticipates a 40 year ground lease, the terms of which will be published prior to the RFP stage.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Rental rates for student occupants in the initial year of operation will be set by the University as part of the RFP process and, if necessary, negotiated by the University and the Developer prior to execution of a partnership agreement, consistent with rents currently charged for on‐campus housing. The rate at which rents are permitted to be increased annually thereafter will also be negotiated by the University and the Developer as part of the selection process.

Souces of Project Support (Monetary)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Project, as envisioned, will be fully financed by producers, through combination of equity and debt. No public commitment of funds.

Checkbox Checked

From Producers as Equity: Project, as envisioned, will be fully financed by producers, through combination of equity and debt. No public commitment of funds.

Project Delivery & Finance Method

Project Delivery:
Design Build Finance Operate Maintain (All Private Finance). Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.
Is there an independent checking engineer? No
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals
Design Build Operate Finace & Maintain

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
40
0
Forms
Description
To Be Determined
To be negotiated with Univ. of South Carolina. 

Project Value (If and As Known)

Date of Estimated Project Value: November 30, -0001
Project Value
Hard Cost
Hard & Soft Costs

Project Value Unknown or not Provided

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