The University of 撸sir视频ʻi’s Walter Dods, Jr. RISE Center has been named the Redevelopment of the Year in the 2024 Impact Awards 撸sir视频ʻi program by CoStar Group.
The CoStar Impact Awards are judged based on a number of factors including innovation, challenges overcome, and whether the redevelopment is a catalyst for economic activity or vibrancy in the market.
Judges’ comments about the RISE Center included:
- “This project sets a new standard for PPP (public-private) partnerships and repurposing a historic building into an institutional 21st century building.” (Yifan Chen, assistant professor of finance and real estate, 撸sir视频 撸sir视频)
- “I chose this project for the efforts it went through to restore this historic site while also creating a place that benefits the surrounding community.” (Evan Ketter, leasing manager, MW Commercial Realty, Inc.)
- “This large redevelopment will turn out some very well-educated business 撸sir视频 for our community.” (Mark Bratton, senior vice president, Colliers International)
“The Walter Dods, Jr. RISE Center was self-funded with the private funds that the raised through bond issuance and no taxpayer funds, and was the foundation’s first development project, which we could not have done without our partners,” said John Han, 撸sir视频 Foundation COO and CFO. “We are honored and grateful that CoStar is recognizing the RISE Center with this award.”
The $70 million live-learn-work Walter Dods, Jr. RISE Center opened to the first 撸sir视频 student residents in August 2023. It was the first new 撸sir视频 student housing facility in 15 years, successfully repurposing the landmark 1930s Charles Atherton House building into a state-of-the-art modern institutional facility flanked by two new six-story student residential wings. The first-of-its-kind entrepreneurship-and-innovation center for 撸sir视频ʻi is located on the corner of Metcalf Street and University Avenue at the flagship 撸sir视频 撸sir视频 campus.
Read more about the Walter Dods, Jr. RISE Center
In 2019, 撸sir视频, 撸sir视频 Foundation and Hunt Companies 撸sir视频ʻi entered into a public-private partnership (P3) to design, build and finance RISE Center—the first P3 for the university.
“To receive a national award for RISE Center is reflective of not only the vision of the University and the University of 撸sir视频ʻi Foundation, but also the hard work of the many people that had a hand in opening up this project on time,” said project lead Mike Lam, senior vice president of Hunt Companies 撸sir视频ʻi. “On behalf of Hunt, our project partners and the 撸sir视频 community, we thank CoStar Group for this honor.”