The University of Colorado Board of Regents has authorized the campus to enter into negotiations with Trammell Crow Residential, a Denver-based, diversified commercial real estate services firm, for the development of a new student apartment-style residential complex at Williams Village.
The Board of Regents also approved a Memorandum of Understanding with the City of Boulder on the development of the project at its Dec. 13 meeting. The Boulder City Council approved the agreement last month.
"We are very pleased to be working with Trammell Crow Residential," said Paul Tabolt, vice chancellor for administration. "The option of constructing 972 beds by fall 2003 can help address badly needed student housing within the Boulder community."
Based on successful negotiations, Trammell Crow Residential will provide comprehensive services on the project, including planning, design and construction. The university is still considering the most appropriate way to finance the project.
Originally the university's phasing strategy charted 400 beds to be available by 2003, with an additional 500 beds available by Aug. 1, 2004. Trammell Crow Residential proposes to streamline the construction schedule, making 972 beds available for occupancy by Aug. 1, 2003.
Trammell Crow Residential also proposes to construct one of the needed parking garages during the initial construction phase. University and city officials are currently discussing the scope of the work to engage in a traffic study that encompasses alternative forms of transportation.
At full build-out, the project will accommodate 1,900 non-freshmen undergraduate and graduate students. Based on the university's experience, upper-division, transfer and graduate students desire the convenience and amenities of on-campus living, but they prefer the more independent lifestyle of apartments.
The addition of on-campus housing is a priority for CU-Boulder, the University of Colorado Board of Regents and the Colorado Commission on Higher Education, as articulated in the Campus Master Plan.
The Colorado Commission on Higher Education approved CU's campus master plan in March and recommended that the university remove a 500-bed cap on the first phase of expansion at Williams Village. The Board of Regents approved the Williams Village program plan later that month.
Trammell Crow has provided extensive real estate services to some of the most prestigious institutions across the country, including the University of Pennsylvania, Texas Tech University and George Washington University.
According to Derrick Watson, CU-Boulder's Williams Village Expansion Project manager, plans are underway to introduce Trammell Crow developers to community members at neighborhood meetings. Dates, times and locations of the meetings will be announced as soon as they are available.
For more information on Trammell Crow Residential, visit their Web site at http://www.Trammelllcrow.com. For more information on the Williams Village project, visit the CU-Boulder Housing Department Web site at www-housing.colorado.edu, or call Watson at (303) 735-0802.