IOWA CITY – The Iowa Board of Regents has approved a new 10-story residence hall/dorm for the University of Iowa.
The cost of the dorm is $53,444,501.
The project would construct a new residence hall to provide housing for 501 freshman and returning students within a ten-floor structure. The project also includes a two-story public area with gathering space, study/teamwork space, and a grab & go food service to serve students residing in the new hall and residents of the other halls on the west side of the river.
The project would be constructed between Rienow and Hillcrest residence halls, just west of Byington Road and north of Grand Avenue in Iowa City.
Residence hall rate increases in excess of the annual inflationary cost increases (currently estimated at 3.0%) of 2.5% in FY 2014 and FY 2015, and 1.0% in FY 2016 are proposed to finance a portion of the additional debt service for the new residence hall.