Morgan State University (Morgan View Apartments)
Academic Privatization initiated the first privatized development funded by a tax-exempt bond issue at Morgan State University. The privatization partnership was finalized between Academic Privatization of Maryland, co-developing with A&R Development Corporation, the Maryland Economic Development Corporation and Morgan State University. Under the terms of the agreement, Academic Privatization and A&R Development provided student residence apartments on the campus of Morgan State University, utilizing financing accomplished through the issuance of tax-exempt bonds.
This project is a fast track, urban development which required interim funding. The Board of Trustees accepted the developer's revised site plan in early September 2001, and construction began in April 2002. The tax-exempt bonds were funded in May 2002. Consequently, Academic Privatization of Maryland, LLC and A&R Development Corp. guaranteed funding to complete project design and initial construction prior to funding of the bonds.
|Location:||Morgan State University|
|Name:||Morgan View Apartments|
|Developer||Academic Privatization of Maryland, LLC|
|A&R Development Corporation|
|Gross SQ. FT:||294,780 sq. ft.|
|Room Style:||4bed/2bath, 2bed/1bath, 1bed/1bath|
|2 Manager's unites 1 bed/1bath each|
|Amenities:||Each apartment is fully furnished apartments, with private bedrooms, full kitchens, washer/dryer in each apartment, computer connections to the high speed University fiber optic system, fire and panic alarm security system monitoring, a 13,505 SQ clubhouse with a fitness center, 30 station computer lab, indoor recreation space, 300 person meeting room, and a convenience store. there are also 385 parking spaces provided|