The Northeast Iowa Community College Board of Trustees approved the transfer of the College-owned parcel of land immediately west of the Peosta campus main parking lot, next to the Fareway grocery store, for the development of student housing. The College will transfer ownership of the land to the City of Peosta, in what is viewed as an exciting step for the College, the City and local communities, officials reported.
Through their ongoing facilities planning process, the College’s administration, staff, faculty, and trustees have explored the possibility of student housing construction and its advantages for student recruitment and enhancement of the campus experience.
Wes Schulte, Merit Development, has worked closely with Straka Johnson Architects to design and develop the property. The student-centric building will offer both single and multi-bedroom suites with approximate occupancy of 200 students. Schulte estimates that construction would require 12-15 months for completion. No tuition, College or taxpayer funds will be used for the construction of the facility.
The project represents an approximately $10 million investment with a much larger potential economic impact spurred by the residence of 200 students. Much more valuable, however, will be the synergy created by the interaction among the student, residential, and business sectors of Peosta.