Centenary University’s Bennett-Smith Hall & Founders Hall

Location: Hackettstown, NJ
Market: Public-Private Partnerships (P3)
Size: 172,000 SF
Beds: 252
Units: 64
Date Completed: August 2006

Turnkey development and financing services for a three-phase, 252-bed student housing program at Centenary University

Our experienced development team assessed and made recommendations to meet Centenary University’s objective of being able to capitalize the project to align with the university’s current financial covenants and projected future revenue.

Centenary University Student Recreation Center

Project Overview

Three-phase, 252-bed student housing program
Creative public-private partnership (P3)
Gilbane’s expertise in financing similar transactions (low cost program using tax-exempt bond financing) allowed for a seamless procurement of funds so the project could begin on a fast track delivery process
Managed the project from design to approvals to occupancy
Experienced financing made for a seamless procurement of funds and the project began on a fast-track delivery
Delivered the first residence (Bennett-Smith) in under one year from project approval to occupancy and second residence hall (Founders Hall) completed shortly thereafter
The Reeves Student Recreation Center was also renovated and expanded in just five months after demolition of the old facility was completed

“We are delighted with the professionalism and quality of work provided by Gilbane…Gilbane was responsive to our concerns every step of the way. The assignment had many significant challenges, including the entitlement process…Gilbane anticipated the college’s needs and project requirements and was proactive in providing solutions.”
Barry Cohen
Former VP, CFO
Centenary University