How is this project being funded? Is the university paying for it?
Uptown Landing is a public-private partnership. The developer, ACE Fletcher, LLC, will finance and own the student housing, affiliate housing, hotel, and retail components during the term of the ground leases. The financing of these district assets is not a legal obligation of USF. This innovative model allows the university to benefit from new facilities, infrastructure improvements, and long-term revenue in the form of ground rent without pledging its own credit. The university will only directly fund the development of an academic/research building and its portion of the district infrastructure.
What is the total cost of the project?
The public-private partnership structure means that the master developer, ACE Fletcher, LLC, is responsible for securing the financing for the mixed-use assets and infrastructure of the project. The phase one total project cost is currently estimated at nearly $500 million, with the P3 portion costing approximately $270 million and the academic research building costing approximately $225 million.
- The student and affiliate housing will be financed with tax-exempt bonds through a not-for-profit ownership structure.
- The hotel and retail components will be financed through conventional debt and private equity.
- USF is only responsible for financing its academic/research building, which will be funded through a combination of university proceeds, bonds and/or philanthropy.
What measures are being taken to address the traffic impact on Fletcher Avenue and the surrounding area?
A comprehensive infrastructure plan is essential to the project. During development and planning, traffic patterns are carefully analyzed to create a pedestrian-friendly community that is well-connected to campus, while also minimizing the impact on surrounding roads. Uptown Landing will be a walkable area that is accessible and easy to access from other areas of campus. Bull Runner buses will make travel even easier because everything will be within a short walk of the bus stop. The combination of traffic management and accessibility using different forms of transportation will mitigate negative impacts resulting from the construction.
What parking will be available? Will I be able to park there with my USF parking permit?
The project will include surface parking designated for each component of Uptown Landing; however, the final parking plan is still being developed. The area is walkable, decreasing the dependence on personal vehicles. More details will be provided as plans are finalized.
How is this project related to the construction of USF’s new on-campus stadium?
Uptown Landing is a separate project; however, the university carefully plans campus development to be in sync. Located within walking distance of the new stadium, Uptown Landing will provide opportunities for students, alumni, fans and visitors to come together before and after football games and other major events. Dining options, overnight accommodations, and conference space will be located near the stadium, enhancing every event at the premier campus venue at any time of day or even for multiple days.
Will the area be disturbed by construction noise?
As with any construction project, noise will be generated; however, there are no plans to work during evening hours. Every effort will be made to minimize disturbances to nearby residential areas.
Will the USF Forest Preserve be affected by this development?
No. The Environmental Conservation Outreach, Research, and Education (ECORE) System in the USF College of Arts and Sciences secures, utilizes, and promotes several
of USF’s environmental assets, including the 500+ acre Forest Preserve. It is a living laboratory that has served as the source of scholarly work resulting
in dozens of research papers, Master of Science theses and PhD dissertations. Access
to the preserve will remain limited to approved USF class visits and research.
Uptown Landing is located on the site of the former USF golf course, which is situated
to the west of the USF Forest Preserve. No construction activity will take place within
the borders of the nature preserve.
Is any forest being destroyed to complete this project?
Uptown Landing is being developed entirely within the footprint of the former golf course, which was previously developed.
What process are you using to engage the public and other stakeholders?
USF has extensively engaged with interested parties, both internal and external to the university. USF held dozens of internal and external listening sessions, including a town hall meeting open to the public, gathering feedback from hundreds of participants. USF is committed to continued communication with the surrounding community.