Capstone, University of Southern Maine to Develop 577-Bed Residence Hall, Student Center

PORTLAND, MAINE — A partnership between Capstone Development Partners and the University of Maine System will develop a 577-bed residence hall and student center on the University of Southern Maine’s (USM) campus in Portland. The proposed 209,000-square-foot community will offer apartment-style units alongside academic support space. The partnership hopes to break ground on the project in spring 2020, with Capstone providing financing for the student housing component and the university providing financing for the student center. The design-build team for the community includes architectural and engineering firm SMRT Architects and Engineers, architectural firm Elkus Manfredi Architects and general contractor PC Construction. Capstone Management Partners, the management subsidiary of Capstone Development, is the proposed maintenance and operations provider for the community upon completion.