The University of Southern Maine (UMS) in the USA has awarded the student housing project to Capstone Development Partners. Capstone and UMS will immediately enter into negotiation of contractual agreements for the Project as they work through the planning, design and permitting phases towards a financial closing and groundbreaking of construction in Spring/Summer 2020.

The proposed Project contemplates a 577-bed apartment-style residential community encompassing approximately 209,000 SF of residential and support spaces. Capstone will arrange the financing of the student housing component while the University will provide the financing for the Student Center component. As a developer, Capstone will lead the planning, design, and construction of both the student housing and student center components.

The Project will be designed and constructed to incorporate Passive House sustainability standards, and meet or exceed LEED Silver standards. The Project is also proposed to utilize cross-laminated timber (CLT) components, a sustainable construction material.

Capstone’s design-build team for the Project includes SMRT Architects and Engineers, a full-service architecture and engineering firm headquartered in Portland, ME; Elkus Manfredi Architects, an award-winning architecture firm with extensive student housing design experience, based in Boston, MA; and the Portland office of PC Construction, a Burlington, VT-based contractor with a breadth of experience constructing facilities on college and university campuses throughout Maine and Northern New England. Capstone Management Partners, Capstone’s subsidiary management company, is the proposed maintenance and operations service provider for the residential community.