Luxury housing planned for UMaine
A Charlotte, N.C.-based student housing developer is planning to build a $25 million property at the University of Maine in Orono.
Campus Crest Communities Inc. will build a 188-unit, 620-bed student housing development about half a mile from the UMaine campus, the company recently announced in a press release. The development will be ready by the 2012-2013 academic year, and will be UMaine's first student housing development to offer a full private bed and bath living option for students. Campus Crest, founded by University of Maine graduate and Harrison native Michael Hartnett, first announced the luxury student housing complex in May 2009 and hoped to begin construction that fall, opening it by fall 2010.
The $25.3 million project will be partially funded by a $15.2 million construction loan from TD Bank. The development will include "high-end amenities," according to the company, such as "a resort-style swimming pool, a game room, a fitness center and a library." The company also announced a $26.3 million development at Auburn University in Alabama.
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