Arkansas Tech University Planning Nearly $50M Student Union, Rec Center


Arkansas Tech University Planning Nearly $50M Student Union, Rec Center
The issuance of bonds to fund the project will be referred to ATU Board of Trustees during its next scheduled meeting on Aug. 18.

Arkansas Tech University is planning to build a new $48.7 million-$49.3 million student union and recreation center facility on a parcel of land currently occupied by the W.O. Young Building on its Russellville campus.

The project is expected to be completed in 2025, and got one step closer to that goal on Friday, when the Arkansas Higher Education Coordinating Board authorized the issuance of $29.8 million in 30-year bonds with an interest rate of approximately 6% to help fund it.

The issuance of bonds will be referred to ATU Board of Trustees during its next scheduled meeting on Aug. 18.

The rest of the funding for the project is expected to come from auxiliary student fee revenue (60%) and educational and general revenue (40%),” according to a memo presented to ATU trustees during their June meeting by Laury Fiorello, ATU vice president for administration and finance. The memo also included the estimated project costs.

The ATU Board of Trustees approved the campus master plan in October 2017 and approved an architect search process for the student union and recreation center in 2018. The following year, Miller Boskus Lack of Fayetteville was selected as the project’s lead architecture firm. Personnel from the Dallas location of SmithGroup are also assisting in the planning.