For Release: Immediately
Contact: Marilyn Appleby, Communications Director, 706.425.5300
Email: mappleby@athenshousing.org

Athens Housing Authority and University of Georgia:
Partners for Dormitory Construction

The Athens Housing Authority recently initiated the sale of $50 million in housing revenue bonds for the construction of two additional residence life halls to complete the East Campus Village at the University of Georgia. This is the second bond sale the Athens Housing Authority has completed for the University of Georgia. Four years ago, the Athens Housing Authority initiated the sale of $100 million in housing revenue bonds for the construction of four residence life halls, a dining hall, and a parking deck on the East Campus section of the University, At the time, it was the first on-campus housing construction project at UGA in nearly 30 years.

Ground breaking at the site is scheduled for April 28 and the residence life halls should open in 2010. The dormitories will house 550 students. The construction is part of UGA’s plan to retain students on campus and reduce some of the stresses on the local infrastructure and affordable housing in Athens.

By state statute, housing authorities may act as the funding conduit for the sale of affordable housing revenue bonds, including residence life halls as well as auxiliary buildings that support the facilities. Previously, the Athens Housing Authority initiated the sale of revenue bonds for the renovation or construction of other affordable multi-family housing in the community.