The USC Development Foundation is Leveraging $172 Million in JEDA Bonds for New Student Housing

Columbia, SC — Richland County

The USC Development Foundation is using $172 million in bond funding through the South Carolina Jobs-Economic Development Authority (JEDA) to help finance a portion of the new student housing development adjacent to the Columbia campus of the University of South Carolina.

The Student Housing Facilities Revenue Bonds will go toward a twelve-floor facility on 3.75 acres of land on Gadsden Street near Colonial Life Arena. The bonds will finance that portion of the project to include approximately 938 beds, amenity spaces, and parking.

“Accessing tax-exempt JEDA financing is critical to serving a steadily growing student population. We’re excited to move forward with this project.”

Jason Caskey, President and CEO of the USC Development Foundation

“We’re privileged to be called upon to help guide this process with JEDA and the Foundation to support higher education in South Carolina,” said Kathy McKinney, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Greenville.

“JEDA has long assisted institutions of higher education across South Carolina with the funds they need to create the infrastructure critical to meeting their mission. We’re pleased to again support the Foundation,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.

USC student housing development - Devine & Gadsden