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Terra State Community College Announces $1.5 Million Gift

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Terra State Community College Announces $1.5 Million Gift
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UHS Gift 

Fremont, Ohio, July 5, 2018 – Terra State Community College has officially announced that it has received a $1.5 million gift, the largest gift to date, from Dr. Frank Murphy and University Housing Solutions (UHS).  The donation will alleviate the need for Terra Village Holdings (TVH) and UHS to call on Terra State Community College’s lease guarantee for the new student housing known as The Landings at Terra Village.

In 2016, the Terra State Board of Trustees approved a $1.5 dollar guarantee for the predevelopment of the student housing after studies showed the demand for a 400-bed facility on the Fremont campus.  According to Tom Kern, TVH Board of Directors President, “The gift is meant to offset any deficits incurred in the first year of The Landings being open if it does not reach the agreed upon 90% capacity.  This generous gift essentially eliminates this guarantee and ensures the College is not financially responsible for the project and, in turn, no tax-payer money will be used to fund the project.” 

The Landings at Terra Village is a 225-bed residence hall that will include four room options for students – 1-bed studio, 2-bed single, 2-bed double and 4-bed.  Fifty-seven 1-bed studio rooms will make up the majority of units.  Each unit will have its own living, kitchen and bathroom areas.  The variety of room offerings will allow different price points to fit the needs of the students.  In addition to the residential offerings, there will be a 5,000 square foot retail component that can be used for businesses such as a bookstore, bank or café.