Completed within 14 months, The Heights is the first public-private partnership construction project to be developed under the New Jersey Economic Stimulus Act. The state-of-the-art residential complex has approximately 568,000 square feet of living quarters and a 24,000-square-foot dining area.
“The Heights gives us the opportunity to accommodate more residential students and guarantee on-campus housing to all interested students,” said Montclair State President Susan A. Cole. “We are now better positioned to serve students from throughout the state of New Jersey and beyond.”
The new complex was developed by Capstone Development Corporation of Birmingham, Alabama, a nationally regarded developer of student housing facilities, with Terminal Construction Corporation of Wood-Ridge, New Jersey, performing as general contractor for construction of the buildings.
The $211 million development budget was financed by tax-exempt bonds issued by Provident Resources Group (“PRG”), a Georgia nonprofit corporation and the owner-developer, and 1,350 construction workers were employed during its construction.