NDUS approves UND housing plan

The North Dakota Board of Higher Education gave UND the green light today (Thursday) to utilize a private developer to remodel and build new residence halls on campus.  In addition many existing apartments will be phased out and demolished over the next eleven years.

Under the plan McVey and West would be razed in favor of a new complex.  Brannon would undergo a full remodel…and upgrades would be made to Selke and Noren.

The board authorized UND to borrow $136 to $140 million dollars in 40-year tax-exempt certificates at an interest rate of 2.96% to fund the project.

UND V-P of Finance Jed Shivers says the goal is to improve on-campus living for students while right-sizing future housing needs.

In a separate motion the board authorized UND to demo 29 apartment buildings and six residence halls.  The move is designed to reduce operating costs.  A staff report says the resident halls along have over $61 million dollars in capital needs.