NKU Seeks Developer for Mixed Use, Student Housing Project
A brand new mixed-use development could land at the entrance of Northern Kentucky University at the corner of U.S. 27 and Nunn Drive. The university is seeking submissions from qualified developers that would design, build, and finance a mixed-use development and new student housing facilities at the site, The River City News has learned.
The development project was referenced publicly at last week's Campbell County Fiscal Court meeting with the county's economic development officer, Seth Cutter, made a presentation about projects taking shape across the county.
NKU is hosting a pre-proposal conference on March 30 and has set a proposal deadline of April 28.
"This site represents the front door to our campus, and the University has had a long-standing interest in developing it," said NKU spokeswoman Amanda Nageleisen. "We also have a growing need for student housing. In this era of limited financial resources, we are being responsible and examining all of our options."
According to the request for proposal (RFP) created by NKU, the development would be placed between U.S. 27 and BB&T Arena on the campus. The mixed-use component may include retail opportunities like restaurants (excluding fast food and drive-thru, as well as gas stations and bars), offices, student housing and/or market rate housing, and parking (primarily underground) as needed. A hotel is listed as optional.
The student housing component specifies the construction of a 500-bed residence hall as a first step toward the goal of placing 3,000 student residents on campus by 2026. New student housing can be built on the U.S. 27 site or on a mutually agreeable campus-owned site, the RFP stipulates.
From the RFP:
The University intends to issue a Memorandum of Understanding (MOU) to the selected Developer and then negotiate a mutually acceptable Affiliation Agreement and Ground Leases for the Development. The initial priority is the Mixed-Use Development and the 500-bed residence hall; the University is very interested in having the latter facility complete on July 1, 2018, for fall 2018 occupancy. Further execution of the agreed upon plan will occur as stipulated in the Affiliation Agreement. To the extent that Kentucky law requires, construction would be accomplished utilizing the Kentucky Labor Cabinet’s prevailing wage rates.The Developer’s planning shall take into consideration the requirement of maintaining at least 98% of the beds which were online the previous fall semester, and at no time below 2,004.