Nonprofit created to develop new residence halls
BOWLING GREEN, O.—BGSU has formed a nonprofit corporation--Centennial Falcon Properties--to facilitate a variety of potential development projects.
According to Sherideen Stoll, chief financial officer, the development corporation will assist the University in pursuing projects that support the charitable, scientific and educational purposes of Bowling Green State University, such as student housing, dining facilities and other structures.
“Our first effort involves creating new student housing designed to provide a quality residential environment--one that enhances the educational experience and provides safety and amenities that are expected by our students and their families,” Stoll said. “This development corporation preserves the University’s existing financial resources and long-term debt capacity while enabling projects to be completed more quickly and cost-effectively.”
Centennial Falcon Properties will work with a nationally recognized developer of student housing facilities. Two new residence halls are slated to open in fall 2011. One new hall will be located on the site of Rodgers Quadrangle. The second will be located north of Offenhauer in the current commuter lot. The commuter parking will be replaced this summer elsewhere on campus.
Stoll adds that many of Ohio’s 13 state universities have similar development corporations.
“The residents of Ohio expect us to look for new, innovative ways to efficiently meet the needs of our students,” said President Carol Cartwright. “Centennial Falcon Properties will do just that. In only 18 months we’ll have two beautiful new residence halls that will rival any student housing in the country.”
To ensure the corporation works in harmony with the University's priorities, the board of directors of Centennial Falcon Properties is comprised of four members of the President's cabinet and a member of the University's Foundation Board.
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(Posted February 03, 2010 )