DASNY Issues $150 million in Low-Cost Bonds Supporting SUNY Residence Hall Projects
Western New York Region expected to receive over $37 million, including support for Buffalo State College, Alfred State College, University at Buffalo, SUNY Fredonia
ALBANY, N.Y. (May 18, 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 more than $37 million to the Western New York Region. Approximately $12 million would support the $16 million conversion of Bishop Hall at Buffalo State College. The 1970s residence hall will undergo complete bathroom, resident room, lounge and laundry room upgrades. The renovations are being completed to LEED-Silver standards under the U.S. Green Building Council’s sustainability and energy efficiency guidelines.
An additional $5 million in financing is provided for additional residence hall renovations on the Buffalo State campus, approximately $15 million would support renovations of Alfred State College’s MacKenzie Complex, more than $5.5 million would support facility upgrades at the University at Buffalo, and an additional $.4 million going towards renovations at the SUNY Fredonia campus.
DASNY President and CEO Gerrard P. Bushell said, “The cornerstone of New York’s economy is a highly educated work force. DASNY’s partnership with SUNY to deliver low-cost financing ensures students in Western New York will be provided exceptional environments to live and learn.”
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.”
Buffalo State President Katherine Conway-Turner said, “We at Buffalo State thank SUNY and DASNY for their assistance in returning Bishop Hall back to its original purpose as a residence hall. Given its location in the center of campus and the exciting amenities that will be added, Bishop Hall will be a highly coveted living space by our students when it re-opens in the fall of 2018.”
Alfred State College President Dr. Skip Sullivan said, “Built in 1970 as the largest single housing complex in the SUNY system, the renovation of MacKenzie Hall with 1,100 beds will make a huge impact on our students. It’s only thanks to Alfred State’s partnership with DASNY that this facility can truly be transformed into a modern and inviting location for students to call home.”
University at Buffalo Vice President for Student Life A. Scott Weber said, “We’re very pleased to make these upgrades to our campus living environment at UB. Investments in campus residence halls and associated amenities help assure that our students have an outstanding educational experience.”
Fredonia President Dr. Virginia Horvath said, “We are appreciative of DASNY’s support of SUNY and Fredonia. These funds will support upgrades that will improve our residence halls and the overall student experience on our campus.”
View project photos here: https://flic.kr/s/aHskYWro11