Church, University of Utah and Ivory Homes break ground on new housing | Ezine Daddy

A groundbreaking ceremony on Friday marked the start of a unique collaborative housing project involving the University of Utah, the Clark and Christine Ivory Trust and the Church of Jesus Christ of Latter-day Saints that will help students during an unprecedented housing crisis.

The three institutions are working together to build Ivory University House, a four-building, 552-unit residential community at the corner of Mario Capecchi Drive and South Campus Drive to provide housing for U. students. Rent paid is donated to provide scholarships, residential grants and internships for U. students.

The first building is scheduled for completion in the summer of 2023, where a community center used to stand.

“This innovative new model will transform the way the university is housing and help serve thousands of students,” University of Utah President Taylor Randall said in a press release. “This type of partnership is key to our future growth and allows us to offer expanded opportunities to Utah students.”

Presiding Bishop Gérald Caussé of The Church of Jesus Christ of Latter-day Saints shakes hands with University of Utah President Taylor Randall at the groundbreaking ceremony for a unique dormitory collaboration called Ivory University House at the U. in Salt Lake City, Utah the hand Friday, May 13, 2022.

Ivory University House is a private institution and not part of US Housing & Residential Education. Nor is it governed by the Church.

How the Ivory University House idea could be worth a billion dollars

Clark and Christine Ivory first discussed the idea 10 years ago during his tenure as a member and chair of the university’s board of trustees.

They ended with a public-private partnership between a government school, a church and a private foundation.

“Instead of making a one-off donation, we wanted to produce an ongoing gift to support the students,” he said. “We are making a $24 million investment and generating an annuity that is likely to generate an impact in excess of $1 billion over 99 years. This is the future financial model to support higher education and we are grateful to The Church of Jesus Christ of Latter-day Saints for making this possible with our leasehold of this prime property adjacent to the University of Utah.”

The Clark and Christine Ivory Foundation has provided more than 7,000 scholarships, internships and mentorships at universities, colleges and high schools throughout the state of Utah.

The need for student housing

The Ivory Foundation shifted to student housing needs as needs became critical during the pandemic.

“Fall enrollment is expected to increase nearly 20 percent this year, and there is a waiting list of about 3,000 students who have applied for on-campus housing,” Randall said. “Ivory University House cannot be completed soon enough.”

Randall sees Ivory University House as part of his vision for a “college town,” which he unveiled in March.

During construction of Ivory University House, the Clark and Christine Ivory Foundation will donate an additional $6 million in seed capital to build Complete U, a strategic plan to activate campus year-round and engage students in experiential ones Learning opportunities that lead to better student outcomes.

“Our foundation has always focused on students who need the most support,” said Christine Ivory. “Ivory University House will allow us to expand that focus in so many ways, including providing housing assistance to students most in need.”

Along with the Ivory University House, the university is in the process of adding approximately 1,700 student housing units, including:

  • 430 rooms in the fourth wing of Kahlert Village, expected to open in autumn 2023.
  • 775 beds at Impact and Prosperity Epicenter, opening August 2024.
  • 504 units in University West Village, opening July 2023.

what the church does

The church agreed to demolish an existing, working chapel and lease the land to the foundation on a standard commercial lease for 99 years.

“Educational opportunities are extremely important for both individuals and society as a whole,” the church said in a press release. “The Church is excited to be involved in this project, which will benefit University of Utah academically-minded students with off-campus housing and future scholarships.”

Presiding Bishop Gérald Caussé spoke at the groundbreaking ceremony. He said Church and U. leaders have spoken at length about the strategic value of the land for the campus.

He said President Russell M. Nelson enthusiastically supported the project.

“We intend to be a part of this community and to keep working to make it better and better, especially to bless this place with amazing students who will be deeply committed to helping their community,” Bishop Caussé said.

Other speakers included Randall, Clark and Christine Ivory, Utah Gov. Deidre Henderson, and Salt Lake City Mayor Erin Mendenhall.

Bishop L. Todd Budge, Second Counselor in the Presiding Bishopric, and Elder Clark G. Gilbert, Church Education Officer, also attended the ceremony.

Randall said he and Gov. Spencer Cox and others visited Arizona State University last fall to learn more about their creative real estate projects. He said those lessons helped resolve some of the recent issues surrounding the Ivory University House project.

Henderson said housing is a key element of accessing a college education.

“I’m grateful for every effort that’s being made to remove barriers for people to graduate,” said Henderson, who recently graduated from college.

Henderson said she hopes the Ivory University House model will spread statewide.

Mendenhall said the project is ongoing and catalytic.

Most projects in the city have a charter limit of 20 or 30 years, not a 99-year lifespan. She expressed hope that 98 years from now, there would be another groundbreaking to repeat the eternal nature of the project.

Salt Lake City Mayor Erin Mendenhall speaks at the groundbreaking ceremony for the Ivory University House adjacent to the University of Utah.

Salt Lake City Mayor Erin Mendenhall speaks at the groundbreaking ceremony for the Ivory University House public-private student housing complex adjacent to the University of Utah on property leased for the project from The Church of Jesus Christ of Latter-day Saints in Salt Lake City became. Utah, on Friday May 13, 2022.

“It will inspire the people who live here and the people who come into its sphere to think about what ongoing and catalytic projects they will create here in the state of Utah and around the world as they graduate and implement. ‘ said Mendenhall. “They will have built not only their educational experience, but their heart and soul and their relationships, a community, a place of well-being and a place that has been invested in them forever.

“So it’s not just about the long-term financing, it’s about the people who are affected here. That’s remarkable. It’s more than affordable housing. It’s so much more.”

The Ivory University House project is funded by the Washington Federal Bank.

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