West Virginia University entered into a long-term lease and development agreement with a private firm, Paradigm Development Group LLC, to develop a $70 million mixed use residential and retail complex in the heart of Morgantown’s Sunnyside district.
The agreement follows a recent Board of Governors decision to approve the five-plus acre property acquisition – just two blocks from the Downtown Campus – for $14.6 million.
University Place, as it will be known, will be a vertical complex (two multi-story buildings) on three acres, and will sit within the boundaries of University Avenue, Grant Avenue, Third Street and Houston Drive. It will also include an additional two acres across the street – facing University Avenue – for parking for residents and retail customers. (Click here to “fly around” the University Place development.)
Foremost, University officials say, the project will help fulfill the University’s strategic housing master plan which addresses the need for additional beds for international, professional and veteran students, plus the growth it has experienced the past few years in the freshmen and sophomore classes.
The initiative also fulfills parent and student requests for more modern, private living space close to campus, and faculty and staff requests for transitional family housing.
For more information visit WVU Today.