The University Of Tennessee System Office Awards Construction Contract to Rise Development Llc (October 2023)

UT Knoxville awarded RISE Development, LLC a contract to design, construct, and operate approximately 1,900 new student housing beds under a public-private partnership, with delivery of two sites by Fall 2025.

Document date · October 13, 2023

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Scope & details

The full contract record, as filed.

Contract type

CONSTRUCTION

Contract term

Phase 1: delivery by Fall 2025; Ground Lease: 40 years, not to exceed 50 years total

Renewal date

2065-08-31

Renewal

Future phase could add at least 750 additional beds. Ground lease option for UT to purchase after 5 years at payoff amount.

Document type

Agenda

Source document

the-university-of-tennessee-system-office-agenda-2023-10-13_d64.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by The University Of Tennessee System Office?

Rise Development Llc was awarded this construction contract by The University Of Tennessee System Office, as recorded on October 13, 2023.

What type of contract is this?

This is a Construction contract, documented as a agenda record.

Where was this contract approved?

This contract appears in the-university-of-tennessee-system-office-agenda-2023-10-13_d64.pdf (Agenda), dated October 13, 2023 from The University Of Tennessee System Office. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Rise Development Llc hold?

Rise Development Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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