East Campus developers cut about 685 units from planned housing, representatives said Monday, but added more four-bedroom units to mitigate the loss.
Richard Perlmutter, co-principal for the Argo Investment Company, said the company realized it had less usable land than expected on the construction site, bounded by Route 1 and Paint Branch Parkway.
Instead of 2,200 units, there will be about 1,515; however, only 200 beds were lost due to the increase in four-bedroom units. The decrease will not affect the 450 beds promised to graduate students as part of a subsidized housing effort, said Doug Duncan, vice president for administrative affairs.
Developers also announced updated prices for the subsidized graduate units, which would start at $690 for a bed in a four-bedroom apartment. The price was previously $670. A portion of utilities would be included in rent and anything more than that would be billed to residents, though the exact limits have not yet been set. Resident monthly parking fees would also be around $100.
cwellsdbk@gmail.com
