JEDA Bonds Finance New Student Housing at Converse College

Posted on October 25, 2016 - Success Story

Spartanburg, SC — Spartanburg County

NCCD-Spartanburg Properties LLC, in cooperation with Converse College, is using $10,225,000 in bond funding from the South Carolina Jobs-Economic Development Authority (JEDA) to finance new student housing on the campus of Converse College in Spartanburg.

The three-story, 40,000-square-foot facility will provide 120 beds in suite settings for primarily juniors and will be on the site of the former Morris Hall on the Spartanburg campus. The financing includes $10,010,000 in tax-exempt revenue bonds and $215,000 in taxable bonds.

converse-1-2016

Eleven new jobs are expected to be created as a result, and occupancy is expected in fall 2017. Converse College was founded in 1889 and now enrolls about 870 female undergraduate students and about 450 male and female post-graduate students.

“Converse College is excited to offer this very attractive facility to our students next year.  This residence hall is an important piece in our 10-year Student Housing Plan, and the financing options from JEDA helped us make this plan a reality.” — Krista Newkirk, President of Converse College

“Converse College has been a mainstay of South Carolina education for more than 125 years. Helping the school build for the future by guiding the bond funding process for new facilities is a gratifying venture,” said Mitchell Johnson, Bond Counsel at Haynsworth Sinkler Boyd, P.A. in Charleston.

“Helping our state’s institutions of higher learning finance their growth and progress is always a pleasure and a privilege. It’s especially so for me personally, as my wife and members of four generations of my family attended Converse,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.

Converse College