Harrisburg University has completed the sale of $ 100 million in revenue bonds to fund the construction of its 11-story academic building in downtown Harrisburg.
HU President Eric Darr announced on Wednesday the successful sale of the tax-exempt bonds issued by the Dauphin County General Authority and marketed and sold to institutional investors by RBC Capital Markets.
"This is positive business news for central Pennsylvania," Darr said in a statement. “HU was founded to prepare people for careers that support families in the fields of technology and science. Selling bonds is an important step forward in accomplishing this mission. "
The building under construction on S. 3rd and Chestnut streets is scheduled for completion in 2023 (picture shown).
When the building is finished it will have nearly 170,000 square feet of finished educational space and another 40,000 square feet of unfinished shell space. The facility will include student service offices and rooms, educational and experiential study rooms for advanced manufacturing, educational and experiential rooms for health sciences, educational and production rooms for interactive media, and general educational offices and facilities.
The project is expected to support more than 150 construction jobs over the next two years. Whiting-Turner Contracting Co., based in Baltimore, is the site manager and Stantec, based in Butler County, is the architect and engineer.
"This investment is a trust not only in Harrisburg University, but also in the city and the future of the region," said Darr.
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