DENVER — Metropolitan State University of Denver marked a milestone Wednesday with the groundbreaking of its first on-campus student housing complex in the institution’s 60-year history.

The 12-story Summit House will provide 550 student beds, dining and retail space, and a new home for the University’s Classroom to Career Hub. Located on the north side of campus across from Ball Arena, the $117 million project is expected to open in 2027. University leaders said it will be funded through philanthropic gifts and bonds, with bond debt repaid by revenue generated from the residence hall.

The project received a $10 million anonymous gift announced Sept. 5. The donation will support ongoing building maintenance and housing scholarships, said Shelley Thompson, associate vice president of University Advancement. She added that the gift will include naming recognition to be determined later.

“This is really the beginning of a transformation,” said MSU Denver President Janine Davidson. “This is a huge step for this University.”

University leaders said the development will create a more vibrant campus community while addressing the shortage of affordable downtown housing for students. Davidson noted that while MSU Denver was founded 60 years ago to serve students in the heart of the city, rising housing costs have made it difficult for many to live nearby.

 University survey found that several thousand of MSU Denver’s nearly 18,000 students travel more than 40 minutes to reach campus. Davidson said she expects Summit House will have no trouble filling its 550 beds.

The residence hall is the first phase of a larger Living and Learning Hub that will also include a second 12-story building. That structure, part of a project on the Auraria Campus in partnership with Columbia Ventures, will provide more than 300 workforce housing units for income-qualified residents and house the Auraria Early Learning Center.

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Source: Coloradobiz