National Development Council (NDC), the nation’s oldest non-profit community development organization, today announced it has been has been selected to develop a major new facility at the University of Alaska Fairbanks campus which will both enhance and sustain the student experience and the University community. NDC’s development arm, the Housing and Economic Development Corporation (HEDC), will issue tax-exempt bonds to support all aspects of the development of the Fairbanks project, thereby alleviating financial stresses at all university and governmental levels.
“We are proud to begin work on this important project for the University of Alaska Fairbanks,” said John Finke, Senior Director of NDC. “It is our mission to relieve, as much as possible, the financial burden on the government while supporting and building important new structures and infrastructure. We are especially pleased the facility is intended to accommodate dining facilities which will help sustain the community.”
Set to break ground early next year, NDC and Community Properties Fairbanks, Inc. (CPF) will execute the project with developer Lorig Associates LLC. The project involves the development of a 34,000-square-foot campus dining facility on the University of Alaska Fairbanks campus. In addition to supplying project management expertise, NDC’s involvement will allow the project to harness the benefits of tax exempt financing.