Regent committee advances transactions aimed at boosting campus housing

The University of Colorado Board of Regents Finance Committee on Wednesday, Aug. 27, advanced a major property acquisition that would significantly expand on-campus housing at CU Boulder. The proposal, which now moves to the full board for approval on Sept. 18–19, represents a strategic investment in student success, affordability and sustainability.

Artist's rendering of the proposed housing

The new apartment-style housing would be specifically designed for non-first-year undergraduate students and graduate students, increasing the ability of non-first-year students to live directly on campus. The university currently has capacity to house about 8,700 undergraduate students on campus––approximately 7,200 first-year students and 1,500 upper division students, including student leaders like resident assistants (RAs). This means most of CU Boulder’s roughly 23,000 upper division undergraduate students live off campus. CU Boulder also has 761 Graduate and Family units, which could house up to 1,300 residents.

“We know that living on campus directly correlates to student success and retention,” said CU Boulder Chancellor Justin Schwartz. “CU Boulder is making a concerted effort through this project and others to create more housing options for our non-first-year students, helping to reduce the number of students who have to seek housing off campus or who have to commute from outside Boulder. If approved by the regents, this would be a transformational project that will benefit college students in Colorado for generations to come.”

If approved, the new housing will offer a mix of apartment-style units with in-unit kitchens and bathrooms located within walking distance of academic hubs like the Engineering Center, Math Building and Benson Earth Sciences, offering convenient access to classes. 

The development will feature market-competitive rental rates to ensure financial accessibility for students. A third-party property management company with a specialization in student housing will manage the property with campus oversight. At least 20 full-time staff will live on-site to support resident needs and enforce quiet hours.

Beyond convenience and affordability, the project supports broader goals of sustainability and community impact. All units in the development will be powered solely by electricity, making this one of the largest student housing developments in the country to run on electric power. Proximity to classes, amenities and other campus offerings will reduce student reliance on cars, cutting down on traffic congestion and emissions. 

This shift will also free up other, more affordable housing options in Boulder to benefit faculty, staff, local employers and early-career professionals.

Artist's rendering of the proposed housing from Regent Drive and Colorado Avenue

What regents approved

The committee approved three key resolutions that pave the way for a new housing development:

• Sale of CU Boulder-owned properties at 2501 Colorado Ave., 2705 Colorado Ave., and 1221 26th Street to the development partnership Morgan Stone Everett.
• Transfer of an assembled parcel—including the three CU-owned properties—from Morgan Stone Everett to CU Boulder in exchange for a ground lease.
• Authorization for CU Boulder to enter into a ground lease of the entire site back to Morgan Stone Everett. If approved, Morgan Stone Everett will construct, own and operate the development. 

The proposed site is bordered by St. Aidan’s church, University Heights Avenue homes, Hillel and Colorado Avenue, and also includes retail space on the ground floor. If the full board approves the resolutions, construction could begin as early as summer 2026, with a targeted opening in fall 2028.

“As a CU Boulder graduate and the father of a recent Leeds School of Business graduate, I am excited to be part of a proposal that could create a positive impact for so many future Buffs, as well as the community,” said Lawrence Stone, a partner in Morgan Stone Everett. 

This initiative complements other housing developments on campus, including new student housing at 19th and Athens—formerly graduate student housing—slated to open in fall 2026.

“Part of our statutory mission is serving as the state’s flagship public research institution and educating the students of Colorado, and we want to see every student who steps foot on our campus leave with a degree,” Schwartz said. “Creating additional housing on campus helps us create an experience that will transform students’ lives and benefit the state as a whole as they move on to become leaders in their communities.”