A new student housing complex across the street from the Cooper Medical School is set to be completed by the fall 2015 semester.
The $16 million project will house up to 105 Rowan students at Broadway and Washington Street in Camden.
The apartments will be operated by Iron Stone Strategic Capital Partners, a Philadelphia-based developer. In April, the Board of Trustees passed an agreement between Iron Stone and Rowan. If the apartments cannot meet 95 percent occupancy, then Rowan must cover the difference in rent.
Commercial and retail space will also be added during the renovation, which university officials hope will benefit both the students and city. Joe Cardona, vice president for university relations, told The Whit in April that Rowan’s continued expansion could boost help Camden’s economy.
“When you start working with companies, they want to locate themselves near the job pool where students are and near places that can help them with their research,” Cardona said.
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