The University of Utah and American Campus Communities Celebrate Groundbreaking of New 1,400-bed Housing Development

January 29, 2025 (Salt Lake City) – The University of Utah is breaking ground on much-needed student housing on campus, funded through a public-private-partnership (P3).

“The project marks a new approach in President Taylor Randall’s efforts to bring a more traditional residential experience to the college campus over the next several years,” said John Creer, the university's chief real estate officer. “These new facilities will address the lack of on-campus housing supply, waitlists and undersupply of private market student housing, as well as help the university reach its goals of 40,000 student enrollment and all first-year undergraduates living on campus.”

The U is partnering with American Campus Communities (ACC), a Blackstone portfolio company and the nation’s leading student housing company, to build the $155 million student housing complex. The 6-story residence hall, which will add 1,400 beds to campus, is designed for first- and second-year students. The U will manage and program the first floor to feature common indoor and outdoor social areas, new dining facilities, and fitness areas.

The development is part of ACC’s American Campus Equity (ACE®) program, which enables universities to expand and enhance student housing without taking on additional debt. This development represents ACC’s commitment to delivering high-quality, accessible housing options for students, with funding structured to allow the university to finance additional campus construction projects and initiatives.

Under a 55-year lease agreement that includes two 10-year extensions for a final term of 75 years, ACC will manage and own a leasehold interest in the property.

“This project demonstrates how public-private partnerships can create transformative housing solutions tailored to the needs of today’s students,” said James E. Wilhelm III, Chief Development Officer at American Campus Communities. “Through our innovative American Campus Equity (ACE®) program, we are proud to deliver sustainable, purpose-built living spaces that align with the University of Utah’s vision for growth and community.”

“We are proud to invest in and partner with the University of Utah on this project, which brings critical new housing supply to the campus,” said Rob Harper, Head of Real Estate Asset Management Americas at Blackstone. “We look forward to welcoming over 1,400 students to this fantastic housing complex.”

ACC will build the residence hall with design in partnership by MHTN Architects and Ayers Saint Gross and construction completed by Okland Construction.

The new residence hall is expected to open for occupancy in the fall of 2026.
 

About the University of Utah

The University of Utah is the state’s flagship institution of higher education, with 18 schools and colleges, more than 100 undergraduate and 90 graduate degree programs, and an enrollment of more than 35,000 students. It is a member of the Association of American Universities—an invitation-only, prestigious group of 71 leading research institutions. Recently ranked #1 public university in the West by the Wall Street Journal, the U strives to be a model public university in delivering unmatched value in higher education and health care while making social, economic and cultural contributions that improve the quality of life throughout the state, the nation and the world.

Visit https://attheu.utah.edu/uncategorized/new-project-brings-expanded-student-housing-to-campus/ to learn more.

About American Campus Communities

American Campus Communities is the nation's largest developer, owner, and manager of premium student housing communities throughout the United States. With extensive experience in design, finance, development, construction management, and operational oversight, the company has facilitated over 115 public-private partnership (P3) transactions at 65 colleges and universities nationwide. Visit www.americancampus.com and follow the company on LinkedIn, Facebook, Instagram, and X to stay updated on the latest student housing news.