Nov. 1, 2005

Investor partnership provides financing for student housing

Lincoln developers Rick Krueger and Kent Thompson will join Union College administrators to celebrate a collaborative investment project that will add contemporary student housing to Union College’s campus by fall 2006. A ground blessing ceremony for a 24-unit apartment-style residence is planned for Saturday, Nov. 5, 4 p.m., as a part of Union’s annual Parents Weekend events. The ceremony will take place at the future site of the building to be located at the east end of campus (the corner of Cooper Ave. and S. 52nd St.). Mayor Colleen Seng is slated to attend the event, and the public is invited.
        “Rick and I are interested in helping Union develop new student housing because student expectations have changed radically over the last 40 years,” said Kent Thompson. “We want Union College to be able to provide the same high quality of housing options for students that they currently offer students academically.”

PROJECT OVERVIEW
Cost: approximately $2,000,000

Timeline: Construction will begin in early November and is expected to be completed by August 2006.
Financing: provided by Lincoln developers Kent Thompson and Rick Krueger
Units: 24 total (unfurnished)

     16 one-bedroom, one-bath units (725 square feet)
     8 two-bedroom, two-bath units (1,042 square feet)
Amenities:

• Outside entrances for each unit

• Bedroom closets (large walk-in or two single closets to accommodate married or single occupants)

• Washer and dryer in each unit

• Eat-in kitchen

• Entry closet

• Linen closet in bathroom

• Dishwasher, disposal, microwave

• Computer and cable hookups

• Vinyl, double-hung windows

• Electric furnaces

• Off-street resident parking