Corvallis, OR, May 17, 2006 – Housing Northwest, a leading private, non-profit, higher education student and low income resident property management corporation in the Pacific Northwest, today announces the grand opening of an affordable, sustainable and innovative Oregon State University (OSU) upperclassmen apartment building dubbed “The Gem” under the new appointment of Darcy Vincent to President and CEO.
Vincent and Housing Northwest, along with OSU, Lorig Associates, Mahlum Architects and Walsh Construction, celebrate the historical significance of OSU by making reference to the first OSU college newspaper published in 1883, The Gem. The reconstructed residence hall is located at 155 NW Kings Blvd, Corvallis, Oregon 97331 and houses 231 private apartments, including studios as well as one, two and three-bedroom residences. Vincent brings more than fifteen years of property management experience to her Housing Northwest tenure by opening a building as grand as The Gem and making it accessible to all upperclassmen at OSU.
“I see old and tired residence halls throughout the country, so as my first project for Housing Northwest, I am tremendously proud to offer the reconstructed, modernized Gem to OSU,” states Vincent. “Keeping in line with the organization’s and my personal beliefs, we strive to make The Gem the most affordable, sustainable and innovative housing option that OSU students have.”
Prior to joining Housing Northwest, Vincent was Vice President for Asset Management at Homestead Capital, an organization committed to financing affordable housing in the Western US through the purchase of Low Income Housing Tax Credits. During her tenure, the portfolio of $320 million in assets was widely recognized as the best performing in the country. Bringing this experience to the table aided Vincent and Housing Northwest in the affordability factor of The Gem for upperclassmen at OSU. Pricing begins at just $450 per month, making it quite affordable living quarters for upperclassmen at OSU. Housing Northwest is able to offer the apartments at such a reasonable price due to the financing of the structure with tax-exempt bonds.
Housing Northwest shares many of the same sustainability beliefs that OSU does and it shows in the way The Gem was built. Only paints with low volatile organic compounds were used. All lighting in the building is energy efficient. All water / plumbing fixtures are low flow. All carpeting in the building comes from recycled materials and it is tiled, meaning that if it is beginning to look like it needs to be replaced, certain sections can simply be replaced, as opposed to ripping up the entire carpet.
Vincent wanted The Gem to be recognized as one of the most innovative college buildings out now. She and Housing Northwest contracted with System Sensor to be the first campus in the country to use the new directional sound technology found in System Sensor’s audible exit device, ExitPoint™. This technology differs from other fire and life safety systems by helping people find their way out of buildings during an emergency. Unlike standard fire alarm sounders, which simply warn people that there is a fire in the building, directional sound technology helps building occupants evacuate quickly and efficiently by informing them which way to go.
“Given the outstanding GEM project team, we had high expectations from the start,” said Tom Scheuermann, Director of OSU Housing and Dining, “and they have exceeded these – the building has been transformed. In terms of both sustainability and aesthetics, this team has done a remarkable job revitalizing and reconfiguring the building into an exciting new on-campus housing choice for OSU students.”
Now leasing for summer and fall 2006, all units in The Gem are furnished and include utilities while providing telephone and Internet connection. There is an abundance of lounge space with fun themes (i.e.: yoga lounges, Web lounges, TV rooms) on every floor to accommodate a student’s every need. For more information, visit www.thegem.org or call 541-713-7222.
About Housing Northwest
Housing Northwest is a 501 (C) (3) private, non-profit corporation headquartered in Portland, Oregon. The property management organization is different from other property managers because of its focus on the resident, not on profits. For more information, visit www.chnw.org or call (503) 497-1188.
About Oregon State University
OSU is one of only two U.S. universities designated a land grant, sea grant, space grant and sun grant institution. OSU is also Oregon's largest public research university, garnering more than 60 percent of the total federal and private research funding in the Oregon University System. Its more than 19,000 students come from all 50 states and more than 80 countries.
