Several credit unions that pledged to finance more green projects will be on site for the Dec. 15 groundbreaking of an environment-friendly student housing complex at the University of Maryland.
The eight story, 320,000-square-foot facility is set to have 600 beds, a 382-parking space garage and 8,500 square feet of retail space for lease. The housing complex will be a silver Leadership in Energy and Environmental Design-certified building, which means it will have proof of energy conservation through site development, water savings, energy efficiency, use of materials and indoor environmental quality. Besides low-flow plumbing fixtures, recycled steel frames and concrete materials, the complex is set to have a partially vegetated roof that can reduce storm water runoff and offer better insulation. The complex is scheduled to open fall 2010.
Business lending CUSO CU Business Capital worked with the $2 billion State Employees Credit Union of Maryland Inc. to get the complex off the ground. Earlier this year, the Miramar, Fla.-based CUBC committed $45 million in SBA loans to create more green projects. In addition to SECU of Maryland, the following CUs are involved: State Nassau Educators FCU, Franklin Mint FCU, Bay Gulf CU, Freedom of Massachusetts FCU, McCoy FCU, Parda FCU, Premier FCU and STCU FCU.
Representatives from some of the CUs and CUBC along with local and state officials are also scheduled to attend the groundbreaking tomorrow.