Construction already is under way on some of the major projects at three D.C. universities that are being financed through more than half-a-billion dollars worth of bonds backed by the federal government.
The D.C. Council on Tuesday approved the Industrial Revenue Bond sale, although the city only is acting as a conduit for Georgetown, American and Howard universities to realize their capital needs. Georgetown requested up to $320 million; America asked for up to $100 million; and Howard wanted $98 million.
At Georgetown’s campus, changes already were visible Thursday to students and passers-by. Construction on the McDonough School of Business began March 31, with an estimated $75 million already acquired through donations. Additional funds from the bond sale will be put toward construction of the $82.5 million, 172,000-square-foot building.
“[The school] really is a big part of our plan for the future — to create a world-class enterprise,” university spokeswoman Cynthia Shaw said.
The new school, scheduled for completion in spring 2008, will be a central location for all students in the business program, particularly those currently scattered in alternate buildings. The program is now housed at a rented space a few blocks off campus.
Georgetown’s bond money also will go toward mechanical improvements at off-campus locations, including office space for several programs at 3300 Whitehaven St.
In upper Northwest, American University will use some of its bond money to create more living space for upperclassmen through the conversion of Nebraska Hall to a dormitory, spokeswoman Maralee Csellar said.
“We wanted to give upperclassmen another choice in remaining on campus,” Csellar said. “We saw this extra space and were looking at needs. We’re always looking for more housing options.”
In addition, American’s School of International Service will get a new home. The program is one of the university’s largest with 2,333 students.
Howard University will receive $98 million in bonds for general improvements to replace elevators and repair mechanical systems on campus. A school spokeswoman was unable to provide details on the projects Thursday before press time.
