Sign in Subscribe
Real estate industry

Education Realty Trust to Develop New Student Housing at Indiana University of Pennsylvania

Strategic Insights

— 1 min read

Education Realty Trust, a leading owner and operator of collegiate student housing, has been selected to develop a new student housing project at Indiana University of Pennsylvania (IUP). The project, valued at $230 million, will replace existing student housing with newly constructed residential facilities, providing 3,600 student beds. This is the ninth project awarded to Allen & O'Hara Development Company, a subsidiary of Education Realty Trust, within the Pennsylvania State System of Higher Education.

Key Takeaways:

  • Education Realty Trust has been chosen to develop a new student housing project at Indiana University of Pennsylvania, valued at $230 million.
  • The project will replace existing student housing with newly constructed residential facilities, providing 3,600 student beds in a four-phase development.
  • This is the ninth project awarded to Allen & O'Hara Development Company, a subsidiary of Education Realty Trust, within the Pennsylvania State System of Higher Education.
  • The company has completed student housing with 2,156 beds, has under construction housing with 1,747 beds, and has in the planning stages housing with 1,950 beds at other institutions within the Pennsylvania State System of Higher Education.
  • Education Realty Trust is one of the largest owners and operators of collegiate student housing, owning and/or managing approximately 28,910 beds at 43 properties serving 35 universities in 21 states and developing communities with 3,633 beds.
  • The company's president, William W. Harris, expressed confidence in the project and the company's ability to contribute to the enhancement of campus life and student recruitment.

Statistics:

  • The project will provide 3,600 student beds in a four-phase development.
  • Education Realty Trust owns and/or manages approximately 28,910 beds at 43 properties serving 35 universities in 21 states and developing communities with 3,633 beds.
  • The company is the ninth project awarded to Allen & O'Hara Development Company within the Pennsylvania State System of Higher Education.
  • Education Realty Trust has completed student housing with 2,156 beds, has under construction housing with 1,747 beds, and has in the planning stages housing with 1,950 beds at other institutions.

Sources:

  • Education Realty Trust, Inc. (NYSE:EDR)
  • "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
  • Education Realty Trust's annual report on Form 10-K for the year ended December 31, 2004
  • PrimeZone, www.primezone.com

Read more