The University of Hawaiʻi is teaming up with Greystar Real Estate Partners in a public-private partnership to build housing for graduate students and faculty members on the UH Manoa campus.
The university says in a news release that the estimated $110 million building project will provide 388 affordable rental housing units along with a child-care facility and ground floor retail space.
It will be situated on the former National Oceanic and Atmospheric Administration site next to Burns Hall.
“We are constantly working to find pioneering opportunities to enhance the experience for our students, faculty and staff on campus,” said Kalbert Young, university vice president for budget and finance and chief financial officer. “The new housing project helps meet the demand for modern, on-campus housing at a reasonable cost.”
Greystar will design-build, finance, operate and maintain the family-oriented mixed-use rental housing project.
In addition to providing affordable, on-campus housing, the project is expected to generate revenue for the university in the form of ground lease rent.
