Finger Lakes Region campus expected to receive over $20 million, including support for SUNY College at Brockport’s design-build residence hall
Investment Compliments “Finger Lakes Forward” -- Region’s Successful Upstate Revitalization Initiative to Grow the Economy and Create New Opportunities
ALBANY, N.Y. (May 9, 2017) – Gerrard P. Bushell, DASNY President & CEO, announced today that the Dormitory Authority of the State of New York and the State University of New York issued approximately $150 million in low-cost, tax-exempt bonds through DASNY’s SUNY Dormitory Facilities Program for residence hall capital projects across New York State.
The DASNY-SUNY financing partnership is expected to deliver over $20 million to the Finger Lakes Region, an investment that compliments “Finger Lakes Forward” – the region’s successful Upstate Revitalization Initiative plan to create new opportunities and grow a strong economy.
A portion of the more than $20 million financing would support a new residence hall at SUNY College at Brockport. The new 256-bed residence hall is being constructed by DASNY, using the design-build method, where both design and construction services are provided through a single contract to expedite projects and provide savings. It is being built to LEED-Silver standards under the U.S. Green Building Council’s sustainability and energy efficiency guidelines. Bond proceeds are also expected to be applied to renovations at other residence halls at the College at Brockport, including new doors, masonry repairs and a boiler replacement.
DASNY President & CEO Gerrard P. Bushell said, “DASNY is proud to partner with SUNY to deliver low-cost financing to develop and upgrade residence halls across our great state. Best-in-class living and learning infrastructure achieved at low cost is paramount to the Finger Lakes Region’s ability to fast forward its economy by attracting the best and the brightest students.”
SUNY Chancellor Nancy L. Zimpher said, “SUNY is happy with the excellent result of this bond sale, which will provide low-cost borrowing for the self-sufficient residence hall program. This will help maintain a safe, convenient, and affordable living environment for our students. We are pleased to, once again, provide this necessary financing in partnership with DASNY.”
SUNY College at Brockport President Heidi Macpherson said, “We’re proud to partner with DASNY on this design-build project. Doing so allows us to provide our students with a high-quality, affordable residence hall and continue to make The College at Brockport a great place for our students to live and learn.”
Enhancing the educational infrastructure helps the Finger Lakes Forward economic development plan which aims to build on the area’s highly educated workforce and transform into a center for Optics, Photonics, and Imaging; Agriculture and Food Production, and Next Generation Manufacturing and Technology. The region was awarded $500 million through Governor Andrew Cuomo’s Upstate Revitalization Initiative to further its transformation and the success of the Governor’s Regional Economic Development Councils.
View project photos here.