Newswise — Harrisburg University of Science and Technology is pleased to announce the successful sale of $100 million in University Revenue Bonds for the construction of its new health science and advanced manufacturing educational facility located in center city Harrisburg. Buyers of the new tax-exempt bonds are global sophisticated investment firms. This sale demonstrates the confidence of smart institutional investors in Harrisburg University’s fiscal stability, and in the future of health care and advanced manufacturing as economic drivers in the Central Pennsylvania region, said HU President Eric Darr.
The bonds were issued through the Dauphin County General Authority and marketed and sold by RBC Capital markets. “This is positive economic news for central Pennsylvania,” said Darr. “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. This investment represents confidence not just in Harrisburg University but in the city and the region’s future.”
The building, slated to open at Third and Chestnut streets in 2023, will accommodate at least 1,000 additional students. When completed, the facility will have nearly 170,000 sq. ft., of finished educational space and 40,000 sq. ft. of unfinished shell space in an 11-story building. The facility will have 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.
Work on the project has commenced, and it is expected to support more than 150 construction jobs over the next two years. The Whiting-Turner Contracting Co., based in Baltimore, is the construction manager for the project, and Stantec, based in Butler County, Pennsylvania, is the architect and engineer.
About Harrisburg University
Accredited by the Middle States Commission on Higher Education, Harrisburg University is a private non-profit university offering bachelor and graduate degree programs in science, technology, and math fields to a diverse student body. For more information on the University’s affordable demand-driven undergraduate and graduate programs, call 717.901.5146 or email, [email protected].