YSU will lease land to developer of student housing

YOUNGSTOWN — Youngstown State University will lease six parcels of land to on the north side of campus to a private developer who intends to build student housing on the site.

U.S. Campus Suites LLC plans to build the first of four buildings on the corner of Elm Street and the West Service Road north of the Madison Avenue Expressway this year. It will be ready for occupancy in fall 2010.

The project has a total price tag of $28 million, with the first building coming at a cost of about $7.5 million.

The YSU Board of Trustees approved the lease arrangement today, giving the developer access to the land for 40 years with an option for a 20-yer renewal.

The housing will be built and operated in compliance with the university’s own on-campus housing regulations.

Read more in Friday’s Vindicator and Vindy.com