Harrisburg University has completed the sale of $100 million in revenue bonds to finance 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, which were issued through the Dauphin County General Authority and marketed and sold to institutional investors by RBC Capital markets.
“This is positive economic news for central Pennsylvania,” Darr said, in a statement. “HU was founded to prepare people for family-sustaining careers in technology and science fields. The bond sale is a major step forward in meeting that mission.”
The building, under construction at S. 3rd and Chestnut streets, is slated for completion in 2023 (rendering pictured).
When finished, the building 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 spaces, advanced manufacturing educational and experiential learning spaces, health sciences educational and experiential spaces, interactive media educational and production spaces, as well as general purpose education offices and facilities.
The project is expected to support more than 150 construction jobs over the next two years. Baltimore-based Whiting-Turner Contracting Co. is the construction manager, and Stantec, based in Butler County, is the architect and engineer.
“This investment represents confidence not just in Harrisburg University but in the city and the region’s future,” Darr said.
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