CSU trustees OK concept

January 25, 2007
CONTACT:
Kathy Miller, 661/654-2456, kmiller26@csub.edu or
Michele Newel, 661/654-2720, mnewell1@csub.edu
 

California State University, Bakersfield officials will move forward in discussions with Crisp & Cole on a proposed hotel/conference center/condominium proposal following conceptual approval of such a project by the CSU Board of Trustees today (Jan. 24).

Trustees approved a resolution by the board's finance committee giving conceptual approval "for the development of residential, hotel, restaurant, parking and retail space on the California State University, Bakersfield campus." The resolution further authorized the campus, in consultation with the CSU Chancellor's Office, "to formulate a development plan for the proposed project." The development plan will include "an update of the conceptual plan presented to the trustees, a summary of specific agreements negotiated by the campus and the developer... an assessment of risks associated with the project, and a multi-year financial plan."

CSUB President Horace Mitchell said he was pleased with the trustees' approval of the concept. "With this action, the campus is now prepared to work with Crisp & Cole on a specific development proposal," he said. "We look forward to collaborating with them on this public-private partnership."

In addition to the receipt of annual ground-lease payments, it is anticipated that use of about 20,000 square feet of office/classroom space and a 2,300 square-foot hospitality suite will be provided to the campus, along with meeting and conference facilities, space for the Osher Lifelong Learning Institute, and shared-use of a parking structure. The proposed project would provide an opportunity for the development of student employment and internships in management, communications, accounting, and marketing. Additionally the project could provide a stimulus for the development of new degree programs, such as hospitality management.