The Indian River State College Foundation (IRSCF) has not received any additional proposals for the DBFOM of student housing on its Pruitt Campus, IJGlobal has learnt.
IRSCF had issued an RFP in September (2022) – as required by Florida statute – after accepting an unsolicited proposal for student housing development on its campus in Port St Lucie.
“The foundation is presently talking with the firm that submitted the unsolicited proposal,” said an Indian River State College (IRSC) spokesperson.
It is expected to reach a conclusion on the project early next year, according to the spokesperson.
IRSCF is a Florida corporation not-for-profit that receives, holds, invests, and administers property, investing for the benefit of the organisation.
The last large-scale student housing P3 project was at University of Massachusetts Amherst (UMASS) which reached financial close on its new undergraduate housing and graduate accommodation project using bank debt in July (2022).
A Balfour Beatty Campus Solutions and Axium Infrastructure led consortium was the private partner chosen to DBF the project.