New student housing on 25th one step closer

The UW Board of Regents has given Housing and Food Services (HFS) permission to sign a lease-and-use agreement leading to the development of new student housing in the U-District.

The development is nearing the end of the schematic phase; signing the lease-and-use agreement is the project's next step.

The new property will be called Blakely Addition, since it is adjacent to Blakely Village on 25th Avenue. It will be developed as undergraduate, single-student housing. The current plan calls for 129 studio, one-, two- and four-bedroom apartments in eight buildings.

A natural pond currently on the site will be retained as part of the housing's landscaping. The new housing will also include underground parking, access to the UW's ethernet and telephone system, and an exercise area.

Several factors have contributed to the need to develop new housing, according to HFS Director Paul Brown. Topping the list is a rise in freshman enrollment, an increase in demand for student housing and low vacancy rates, and high prices in the U-District.

In fact, HFS projects it will be unable to meet demands for residence halls by about 600 bed spaces at the beginning of fall quarter.

The Blakely Addition is being developed in a similar way to the Radford Court housing at Sandpoint. By teaming up with non-profit organization Twenty-fifth Avenue Properties (TAP), the UW can avoid borrowing the money for the project directly. Instead, TAP will handle all aspects of the development and the UW will sign a lease for a maximum of 35 years.

As part of the lease, HFS will pay pre-development costs up to $2 million. The remainder of costs will be paid by TAP, which will be issued up to $40 million in tax-exempt bonds. The principal source of repayment will be rent revenue.

Construction is expected to begin in the spring of 2002, and should be completed by the fall of 2003.