Servitas, Orange Coast College to Develop 811-Bed Student Housing Community in Costa Mesa
COSTA MESA, CALIF. — Servitas and Orange Coast College have announced plans for an 811-bed student housing community on the college’s campus in Costa Mesa.
The project site is on campus land. The arrangement is structured as a ground lease to a nonprofit organization, allowing for tax-exempt debt financing with no recourse to the college, district or taxpayers. The design-build team includes HPI Architecture, MVE Architects and construction firm C.W. Driver. George K. Baum & Co. provided the bond underwriting, and The Scion Group will manage the project in close collaboration with the college.
“This project will benefit Orange Coast College in more than one way,” says Matt Myllykangas, senior vice president of Servitas. “Not only will the college be able to provide its students with on-campus housing for the first time, but also enhance the student experience overall. This residence hall will add to the college’s sense of community. Servitas is thrilled to be part of this exciting time for OCC, and looks forward to seeing how this project impacts the college and its students in the years to come.”
A timeline for the development has yet to be announced.