The University of Idaho has entered into a Development Agreement with the development team of Gilbane Development Company and Rocky Mountain Companies to upgrade and expand campus student housing and support spaces. This strategic investment will support the University’s ability to continue recruiting and retaining top academic talent and staff by providing a variety of modern, affordable housing options. With an emphasis on creating dynamic live-learn communities, promoting student welfare, and contributing to a vibrant campus experience, the multi-project housing program under the Development Agreement will enable the University to enhance its competitive position in higher education.
Under the Development Agreement, Gilbane/RMC will be responsible for the design and construction/renovation of new and existing on-campus student housing. Gilbane/RMC will work in close collaboration with the University throughout every aspect of the program, and the University will maintain key decision-making responsibilities. “We continue to see enrollment growth as we prove again and again the U of I’s value,” said President Scott Green. “Our on-campus housing is an important piece of that value, and our students need and deserve modern living and learning facilities.”
Approved by the Idaho State Board of Education at a special meeting on November 21st, the development program includes a $162.8-million renovation and redevelopment of South Hill and Elmwood Apartments, the Wallace Residence Center, and the Theophilus Residence Building, all of which are already underway. In total, the program is expected to have an economic impact of more than $3 billion to the local Moscow community and surrounding region.
“The University of Idaho is a leader in using innovative delivery methods to improve campus infrastructure and facilities in support of the student via their strategic goals and mission,” said Geoff Eisenacher, Vice President with Gilbane Development Company. “This partnership will further enhance the University’s ability to achieve those goals by ensuring students have modern, affordable housing and support spaces while transferring delivery risk to the private sector. We’re looking forward to delivering this significant development program and making a positive impact on the campus community that will be felt for decades to come.”
The project team includes Gilbane Development Company and Rocky Mountain Companies as the master developer team, Lydig as the contractor, and Integrus and Design Collective as architects. Rocky Mountain Companies is an Idaho-based firm with a passion for its home state and the University of Idaho, and Integrus has a decades-long history of working with the University. Collectively, the team has delivered more than 55,000 beds.
“To be able to contribute to the continued growth and excellence of the University, an institution which plays an integral role in the lives of so many of our employees and their families, is a special opportunity and we look forward to working closely with the University to see its vision become a reality,” shared Mike Fery, CEO and Chairman of Rocky Mountain Companies.
About the University of Idaho
The University of Idaho, home of the Vandals, is Idaho’s land-grant, national research university. From its residential campus in Moscow, U of I serves the state of Idaho through educational centers in Boise, Coeur d’Alene and Idaho Falls, nine research and Extension centers, plus Extension offices in 42 counties. Home to nearly 12,000 students statewide, U of I is a leader in student-centered learning and excels at interdisciplinary research, service to businesses and communities, and in advancing diversity, citizenship and global outreach. U of I competes in the Big Sky and Western Athletic conferences. Learn more at www.uidaho.edu.
About Gilbane Development Company
Gilbane, Inc., a private holding company marking its 154th year in business, is one of the oldest and largest family-owned real estate development and construction firms in the world. Gilbane Development Company is the project development, financing, and ownership arm of Gilbane, providing a full slate of real estate development, investment, and asset management services. Gilbane’s Public Private Partnership group has delivered or has underway more than $4.4 billion in P3 projects for higher education, healthcare, K-12 schools, and federal/state/municipal clients. Visit www.gilbaneco.com for more information.
About Rocky Mountain Companies
Rocky Mountain Companies is a Boise, ID based real estate development company founded in 1992. With more than 115 projects developed totaling more than $422 million in value, RMC’s core business involves build-to-suit, value-add, and speculative development throughout the Northwest.
