Lincoln investor partnership leads to completed apartment complex

LINCOLN—Construction is completed on a new student housing complex on the campus of Union College. In May 2005, Lincoln developers Rick Krueger ('74) and Kent Thompson initiated a collaborative investment project to add contemporary student housing to campus. Construction on the project began in November and was completed on time this month.

On Wednesday, Aug. 16, Union College will celebrate the opening of the Cooper Place located at Cooper Ave. and South 52nd Street. Krueger and Thompson along with their wives, Valeree Krueger and Sarah Thompson will be honored for their visionary collaboration with Union. The celebration will coincide with Union's welcome back pizza feed sponsored by the Student Alumni Association. Union students, employees and guests will have the chance to tour the new facility.

Costing approximately $2 million, the construction project has added contemporary student residence options to Union College's campus. The 24-unit apartment-style housing features amenities such as a washer and dryer in each unit, dishwasher, microwave, computer and cable hookups, electric furnaces and off-street parking. The new campus housing is available to students who are at least 22 years of age or students with senior status or who are 21 and meet academic and citizenship requirements. About half of the new residents have already moved in.

President Smith described the opportunity this project funding arrangement created for Union. "Being able to meet a strong existing need in a creative, timely way is a tremendous blessing that continues Union's momentum toward a bright future," Smith said. "We are grateful to the Kruegers and Thompsons for setting an example for others who may catch a vision of what can happen when the college is able to meet some of its needs without draining institutional resources."

Project Overview

Cost: approximately $2 million

Timeline: Construction began in November 2005 and was completed on time in 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

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