News: Northern New England

Dartmouth College launches $500 million
undergraduate housing plan

25 West Wheelock Street, Russo Hall, Dartmouth College - Hanover, NH - rendering credit - Cube3

Hanover, NH Dartmouth College has launched a $500 million program to invest in new and renewed undergraduate housing, representing the school’s largest campus housing investment in a generation. College president Sian Leah Beilock has pledged to add a combined 1,000 beds for students, faculty and staff over the next 10 years.

The Ivy League college has received one of the largest gifts for undergraduate housing in its history, $30 million from alumni Thomas Russo ’77 and Gina T. Russo ’77. The apartment-style residence hall for juniors and seniors, being built at 25 West Wheelock St., will be named Russo Hall.

Russo Hall is the first of several planned apartment-style residence halls on West Wheelock St., near the central campus and the West End campus district. The Russo’s contribution launches a $165 million fundraising campaign to help fund the construction of Dartmouth College’s first new undergraduate residences in more than 20 years.

In addition to new construction on West Wheelock St., Dartmouth is renovating 60% of existing undergraduate residences over the next 15 years to add beds, studying rooms, gathering spaces, and amenities. The renovations will also improve accessibility and prepare Dartmouth’s residential infrastructure for the transition away from fossil fuels. 

“We are designing all of our new residences and our housing renewal projects to last more than 100 years, because the ultimate sustainable act is to renovate, not to tear down,” said Josh Keniston, senior vice president of capital planning and campus operations.

Most recently, this fall Zimmerman Hall and Brace Commons are reopening to students after a complete upgrade, following the reopening of Andres Hall in fall 2023. All three facilities are part of the East Wheelock House community. 

Andres and Zimmerman now feature suites of singles and doubles with gender-neutral, single-user bathrooms, adding a net of 24 new beds. The renovations also added elevators, air conditioning, study rooms, lounges, and other social spaces. Brace Commons, the East Wheelock House’s social center, now features improved accessibility, lighting, and landscaping, as well as spaces for studying, meeting, and house-wide events.

All three buildings meet the standards for LEED Gold certification for sustainability, health, and safety and are designed to be compatible with Dartmouth’s shift from oil-fueled steam to geo-exchange hot-water heating and cooling.

As the Zimmerman and Brace Commons project neared completion over the summer, work began on Fayerweather Hall, a 120-year-old three-building neo-Georgian residence that is part of South House. The project — which will put the three buildings under a single new roof and add 35 beds, elevators, and a new house social center — will thoroughly modernize the residence while preserving Fayerweather’s historic character. As with Zimmerman and Andres, Fayerweather’s systems will be updated from steam to hot-water heating to be compatible with Dartmouth’s shift to sustainable energy. The project is on track for LEED Platinum certification. 

While the Fayerweather project gets underway, Dartmouth is in the schematic design phase for the renovation of Mass Row, the next residence slated for renewal.

MORE FROM Northern New England
Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units. 

Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.

The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion