Upon the successful negotiation of a Ground Lease with the University in May of 2014, a three-phase process began. First the design phase covered the next 10 months. Construction began in May 2015 at the conclusion of the 2014–15 academic year. The renovation plan calls for Bowles Hall Residential College to open in August 2016 for the 2016-17 academic year.
The major steps have been:
- Negotiate a ground lease between the University and the Bowles Hall Foundation
- The bond underwriter sells ~$17 million of revenue bonds to fund the renovation
- Interim financing of approximately $2.5 million funded the design and other pre-construction effort
- Complete an Environmental Impact Report and the CEQA addendum
- Complete the contract with the selected improvement contractor Clark Construction, the facility manager EdR Trust and food service provider.
- Welcome our Class of 2016-17 on August 20, 2016