More than 1,300 units are slated to open at the U in the next two years in just two new developments. Last September, the U broke ground on the Impact and Prosperity Epicenter, which will provide student housing along with office space for the Center for Business, Health, and Prosperity and the Sorenson Impact Center. The newest addition to the David Eccles School of Business will be 284,808 square feet and provide 775 beds. The $114 million project set to open August 2024 is made possible by the generous support of anchor donations from Jim Sorenson and Robert and Lynette Gay.
“The Epicenter is a living-learning space that will provide an unparalleled opportunity to equip the next generation of leaders with social purpose and sharpen the world’s understanding of impact investing and approaches to sustainable economic development,” says Jim Sorenson.
Bob and Lynette Gay add: “Building on a mission of unifying the resources of business and public health, we believe the Epicenter will become a cutting-edge, student-led deliverer of growth, hope, and prosperity to today’s global community.”
And last May, construction on the new Ivory University House began. The four-building, 552-unit apartment complex is a private partnership with the Clark and Christine Ivory Foundation and The Church of Jesus Christ of Latter-day Saints. The first building will be completed in the summer of 2023. All net proceeds from this project will be dedicated to students for scholarships, housing stipends, and internships.
“We are taking a $24 million investment and producing an annuity that will likely generate more than $1 billion in impact over 99 years,” says Clark Ivory BA’88. “This is the future financial model for supporting higher education, and we are grateful to The Church of Jesus Christ of Latter-day Saints for making this possible with our ground lease of this prime property adjacent to the University of Utah.”