Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
IHL board approves 45‑year ground lease, management deal for 1,250‑bed Ole Miss student housing
Summary
The IHL Board approved two University of Mississippi agreements for a 1,250‑bed student housing project: a 45‑year ground lease with PRG Oxford Properties LLC and a management agreement for operations. Board staff described bond financing (~$118.4M), a $212 per‑bed maintenance assessment and PRG’s authority to set rates.
The Mississippi Institutions of Higher Learning (IHL) Board of Trustees on a special called meeting approved two agreements enabling the University of Mississippi to move forward with a public‑private student housing project on the Oxford campus.
Dr. Pierce, presenting for board staff, described Item 1 as a 45‑year ground lease with PRG Oxford Properties LLC, a subsidiary of Provident Resources Group, to build approximately 1,250 student beds. "PRG will be the owner of the building and will transfer construction and development responsibilities to Greystar," Dr. Pierce said. He added the term was authorized by "Senate Bill 25 19 of the 2025 legislative session." The speaker said construction would be funded by a primarily tax‑exempt bond offering of approximately $118.4 million and noted Standard & Poor's rated the issue "triple B‑minus" with a stable outlook on Oct.…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
