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The Church, the University of Utah and Ivory Homes are starting construction of new housing

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The Church, the University of Utah and Ivory Homes are starting construction of new housing

The bookmarking ceremony on Friday marked the beginning of Fr. a unique shared housing project featuring the University of Utah, the Clark and Christine Ivory Foundation and The Church of Jesus Christ of Latter-day Saints, which will serve students during an unprecedented housing crisis.

The three institutions are working together on the construction Ivory University Housea four-story complex with 552 apartments on the corner of Mario Capechi Street and South Campus Drive to add housing for U. students.

The first building is planned to be completed in the summer of 2023, where the church house once stood.

“This innovative new model will change the university’s housing situation and help serve thousands of students,” Utah University President Taylor Randall said in a press release. “This type of partnership is key to our future growth, enabling us to provide enhanced opportunities for students from Utah.”

Presiding Bishop Gerald Cosse of The Church of Jesus Christ of Latter-day Saints shakes hands with Utah University President Taylor Randall at a ceremony to bookmark a unique student housing association called Ivory University House at U. in Salt Lake City, May 20, Utah. d.

The Ivory University House is a private facility and is not part of the U.S. Housing and Residential Education. It is also not run by the church.

As an idea Ivory University House could cost $ 1 billion

Clark and Christine Ivory first discussed the idea 10 years ago when he was a member and chairman of the university’s board of trustees.

They ended with a public-private partnership between the public school, the church and a private foundation.

“Instead of making a one-time donation, we wanted to make a permanent gift to support the students,” he said. “We are investing $ 24 million and producing an annuity that is likely to bring in more than $ 1 billion over 99 years. It is a future financial model to support higher education, and we are grateful to The Church of Jesus Christ of Latter-day Saints for making it possible through our lease of this first-class property adjacent to the University of Utah. ”

The Clark and Christine Ivory Foundation has provided more than 7,000 scholarships, internships and mentorships to universities, colleges and high schools across Utah.

The need for student housing

The Ivory Foundation switched to student housing needs when during the pandemic the need became critical.

“The fall enrollment is projected to increase by nearly 20 percent this year, and there are about 3,000 students on the waiting list who have applied for housing on campus,” Randall said. “Ivory University House can’t be completed fast enough.”

Randall views the Ivory University House as part of his vision of a “university city” he unveiled in March.

As Ivory University House builds, the Clark and Christine Ivory Foundation is donating $ 6 million in additional funding to create Complete U, a strategic plan to activate campus year-round and engage junior students in experiential learning opportunities that lead to better student learning. results.

“Our foundation has always focused on the students who need the most support,” said Christine Ivory. “The Ivory University House will allow us to expand that focus in many ways, including providing housing assistance to students who need it most.”

Together with Ivory University House, the university is in the process of adding approximately 1,700 units of student housing, including:

What the church contributes

The church agreed to demolish the existing operating chapel and transfer the land to the fund for 99 years under market lease.

“Educational opportunities are extremely important for individuals as well as for society as a whole,” the church said in a press release. “The Church is happy to participate in this project, which will benefit Utah State University science-oriented students with off-campus housing and future scholarships.”

At the ceremony of laying the first stone, the chairman, Bishop Gerald Cosse, spoke. He said the church and U. leaders have long spoken out about the strategic value of land for campus.

He said President Russell M. Nelson enthusiastically supported the project.

“We intend to be part of this community and continue to work to make it better and better, in particular to bless this place with outstanding students who will be firm in their commitment to helping their community,” Bishop Kose said.

Other speakers included Randall, Clark and Christine Ivory, Utah Lt. Deidra Henderson and Salt Lake City Mayor Erin Mendenhall.

The ceremony was also attended by Bishop L. Todd Budge, Second Counselor in the Presidency, and Elder Clark G. Gilbert, Church Commissioner for Education.

Randall said he and Gov. Spencer Cox and others visited Arizona State University last fall to learn about his creative real estate projects. He said these lessons helped unlock some of the latest issues related to the Ivory University House project.

Henderson said housing is a key part of access to higher education.

“I am grateful for all the efforts to remove barriers to completion of education,” said Henderson, who recently graduated.

Henderson said she hopes the Ivory University House model will spread across the state.

Mendenhall said the project is eternal and catalytic.

Most projects in the city have restrictions of 20 or 30 years instead of 99 years. She expressed hope that in 98 years there will be another breakthrough to restore the eternal character of the project.

Salt Lake City Mayor Erin Mendenhall is speaking at the opening of the Ivory House University building next to the University of Utah.

Salt Lake City Mayor Erin Mendenhall speaks at the laying ceremony of the Ivory University House public and private student housing complex next to the University of Utah on land leased for the Jesus Christ of Latter-day Saints Church project in Salt Lake City, Utah, Friday 13 May 2022

“It will inspire the people who live here, and the people who fall into its realm, to think about what eternal and catalytic projects they will create here in Utah and around the world when they get an education and implement it,” Mendenhall said, “They will be embedded not only in their educational experience, but also in their hearts, souls and relationships, community, place of health and place that invests in them forever.

“So, it’s not just about perpetual funding, but also about the people affected here. That’s great. This is more than affordable housing. That’s a lot more. “

The Ivory University House project is funded by the Federal Bank of Washington.

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