RENO, Nevada – On June 28, 2023, Edgemoor Infrastructure & Real Estate closed on the financing for the University of Nevada, Reno College of Business building. The project will be delivered under a 3rd Party Development Agreement approved by the Nevada System of Higher Education Board of Regents on June 9, 2023. The new 128,000-square-foot state-of-the-art facility will provide a full range of spaces tailored to best practices in modern business education, including: a 300-seat auditorium, advanced technology labs, case-method optimized teaching spaces, a café/social space, team meeting spaces and collaboration zones, faculty and administrative offices, a landscaped courtyard, outdoor plazas, and a mix of student and community outreach programs that foster entrepreneurship and innovation.
The Edgemoor team for the College of Business building includes Clark Construction Group, a national contractor with experience successfully delivering over 100 higher education projects on campuses across the country as design-builder; and LMN Architects, a firm that is considered a leader in the design of higher education facilities in North America as designer.
Edgemoor has entered into a third-party development agreement arrangement with the University in which the consortium will design, build, finance, operate, and maintain the facility for 30 years. The transaction is structured as a lease-leaseback between UNR and an independent non-profit, National Campus and Community Development.
“This first-of-its-kind deal for the University is emblematic of the innovation the entire team has brought to this project,” said Vic Redding, Vice President, Administration and Finance at the University. “This first piece in the Mathewson University Gateway is an important step in bringing together the University with the City of Reno that will serve as an anchor for growth in Northern Nevada.”
The College of Business building construction work will begin on-site in July 2023 with an official ground-breaking celebration later in the fall. The building is expected to be complete in Summer 2025 and fully operational for the Fall 2025 semester. Future development in the Gateway will include a hotel/conference center and a Life Sciences teaching laboratory complex.
“We are incredibly pleased by the progress this team made in collaboration to move the project towards financial close,” said Edgemoor Senior Managing Director Geoffrey Stricker. “This is a key milestone for making this vitally important project a reality in partnership with the University.”
Scott Walquist, Director of Communications
University of Nevada, Reno
Christine Lewellyn, Director, Creative Strategy
Edgemoor Infrastructure & Real Estate
The University of Nevada, Reno, is a public research university that is committed to the promise of a future powered by knowledge. Nevada’s land-grant university founded in 1874, the University serves 21,000 students. The University is a comprehensive, doctoral university, classified as an R1 institution with very high research activity by the Carnegie Classification of Institutions of Higher Education. Additionally, it has attained the prestigious “Carnegie Engaged” classification, reflecting its student and institutional impact on civic engagement and service, fostered by extensive community and statewide collaborations. More than $800 million in advanced labs, residence halls and facilities has been invested on campus since 2009. It is home to the University of Nevada, Reno School of Medicine and Wolf Pack Athletics, maintains a statewide outreach mission and presence through programs such as the University of Nevada, Reno Extension, Nevada Bureau of Mines and Geology, Small Business Development Center, Nevada Seismological Laboratory, and is part of the Nevada System of Higher Education. Through a commitment to world-improving research, student success and outreach benefiting the communities and businesses of Nevada, the University has impact across the state and around the world. For more information, visit www.unr.edu.
As a leader in the development, financing, leasing, operations, and activation of public buildings, infrastructure, and commercial real estate, Edgemoor has delivered (or has under development) more than $4.5 billion of projects, some of which include Fuse at Mason Square in Arlington, VA; the Kansas City International Airport New Terminal Modernization project in Kansas City, MO; the Howard County Circuit Courthouse project in Ellicott City, MD; the University of Kansas Central District Development project in Lawrence, KS; Augustana University Midco Arena in Sioux Falls, SD; the George Mason University Long and Kimmy Nguyen Building in Fairfax, VA; the Long Beach Civic Center and Governor George Deukmejian Courthouse projects in Long Beach, CA; the University of California, San Francisco Sandler Neuroscience Center; and the Route 28 Corridor Improvements in Loudoun and Fairfax Counties, VA. Edgemoor was honored as a Profiles in Diversity Journal Top 10 Innovation in Diversity for 2020 Award Winner and as P3 Bulletin’s 2019 Developer of the Year.