The University of Delaware and the Collegiate Housing Foundation (CHF) has agreed to transfer the University Courtyard Apartments to UD June 2019.
CHF will continue to own and manage UCA until the transfer is completed. The university has assumed responsibility for fall 2019 leasing, according to a story on the UDaily website.
The complex at 1 Scholar Drive, southeast of the intersection of South Chapel Street and East Delaware Avenue, includes 266 apartments that can accommodate approximately 880 residents in one-, two- and three-bedroom units. Since it opened, occupancy at UCA has been limited to students.
On July 1, 2019, UCA will become on-campus housing and will managed by Residence Life and Housing. Current leases will remain valid through July 31, 2019.
The addition of UCA to Residence Life and Housing’s inventory will increase the university’s ability to offer students more apartment-style living, which is one of the most popular options currently available, the story noted
When the complex was developed in 1999 by Rise (formerly Ambling Companies) and CHF, it was financed through the issuance of Delaware Economic Authority Bonds. Upon repayment of the bonds, the UCA will be transferred to the University.
“The Collegiate Housing Foundation and Rise have been fantastic partners with the University in providing off-campus housing to University students over the years,” said UD’s Executive Vice President and Treasurer Alan Brangman. “With the planned growth in undergraduate enrollment and a commitment to ensuring student success, we felt it was time to transfer the apartments to the University. We are committed to ensuring that students who are currently leasing apartments can continue in the future if they desire.”
The Newark Post reported the transfer drew concerns that a large piece of property was being taken off the tax rolls. The Post also reported that the landmark Christiana Towers high rise dorms on the north end of the campus will be razed in the next several years as new residence halls are built.
A UD official noted in the Post story that the city is gaining taxable property at the university’s STAR Campus, the former Chrysler plant. Chemours is building a new research and development center at the site.
