RICHMOND, Va. — VCU has given the go-ahead for a nearly nine-figure replacement of a 30-year-old student housing complex.
The university’s board of visitors on Wednesday approved a $96 million project that will demolish and replace Gladding Residence Center I and II, located at 711 Main St. across from Monroe Park.
The two buildings – two of three that make up the residence center complex – will be replaced with a 12-story, 360,000-square-foot tower that will house 1,524 students. The new building will accommodate 600 more beds that will allow for all freshmen to be housed on the Monroe Park Campus.
The university is partnering on the development with Texas-based American Campus Communities through a public-private partnership described as the first of its kind for VCU. The board previously approved the plan to bring on an experienced firm to provide design, construction, financing and operating services.
American Campus Communities describes itself as the nation’s largest developer, owner and manager of high-quality student housing. Its previous work for VCU includes the 1200 West Marshall and 8 1/2 Canal Street student apartments, and the Lofts at Capitol Garage student apartments at 1301 W. Broad St.
