Frostburg State University (Edgewood Commons)
Academic Privatization initiated the first privatized development financed by a tax-exempt bond issue arranged directly by the University System of Maryland.
This project was a fast track development which required interim funding. The System completed the bond financing on June 18, 2002, and construction began the same day. Consequently, Academic Privatization of Maryland, and Carl Belt, Inc. guaranteed funding to complete project design, grouting of the subsurface coal mines and initial construction prior to funding of the bonds.
In co-operation and co-ordination with Frostburg University’s Administration, faculty and staff, AP participated extensively in augmenting the start-up of the project.
|Location:||Frostburg State University, Frostburg, MD|
|Developers:||Academic Privatization of Maryland, LLC|
|Carl Belt, Inc.|
|Gross SQ. FT:||153,343 sq. ft.|
|Room Style:||4bed/2bath, 2bed/1bath|
|1 Manager's unit with 2bed/2bath|
|Amenities:||There is controlled access to the building, video cameras throughout, a fire sprinkler system, 5,500 sf. common amenities area with a fitness center, computer lab, billiard/game room, video room, and a multi-purpose room. Each apartment is fully furnished with full kitchens and a washer/dryer. Each bedroom is single occupied, is both wireless and hard wired directly to the University computer network and furnished with telephone and cable TV connections. Each floor has a study room. Sand volley ball is available in the courtyard as well as a gas barbeque for cookouts. Also provided are 300 parking spaces.|