The Tribune

By RASHAD ROLLE

Tribune Staff Reporter

rrolle@tribunemedia.net

GOVERNMENT and University of The Bahamas officials broke ground yesterday for a $95m university residence and multi-purpose complex project that they hope will boost the university and surrounding communities.

The facility will include a 1,000-bed capacity for student residents, 400 parking stalls, more than 50,000 square feet of common areas, including a fitness centre, study rooms, a 200-seat dining hall, a 500-seat ballroom and a spiritual life centre, a university village for leased retail commercial and business operations and faculty residences, Prime Minister Dr Hubert Minnis said.

He said: "Providence Investment and Asset Campus International, an affiliate of the third-party student housing operator Asset Campus Housing, are designing, constructing and will operate this multi-purpose area."

Providence Investment and Development Company Ltd says construction of phase one of the project is anticipated to be completed by June 2021 and phase two by November 2021.

"The university's endowment will grow annually, given that the land will be leased for $100,000 annually, plus 20 percent of the annual profit will go into the university's endowment," the prime minister said.

Dr Minnis also said 2,900 of the 5,000 students enrolled at UB have benefited from his administration's tuition-free access to tertiary education for qualified Bahamians through the Government Tertiary Education Grant Programme.

"Of that number," he said, "178 are receiving the additional $500 per month residential grant to help defray the cost of housing for qualified students who must relocate to attend UB. I am advised that the university is planning for steady growth in student enrolment over the coming years guided by a recently approved strategic plan. Many of those future Bahamian and international students will be residents of this university residence.

"An increase in student enrolment at UB means that the institution is positively impacting many more lives. It also means that communities and businesses nearby will benefit from a more vibrant residential life, a residential life which will have to be supported by a variety of services and amenities, creating more opportunities for Bahamian businesses and entrepreneurs."