Shenandoah University Announces Plans to Purchase Downtown Winchester Building for Conversion into Student Housing
Shenandoah University President Tracy Fitzsimmons announced today that the university plans to purchase 142 North Loudoun Street in Old Town Winchester for renovation and reuse as student housing.
Shenandoah University President Tracy Fitzsimmons announced today that the university plans to purchase 142 North Loudoun Street in Old Town Winchester for renovation and reuse as student housing. The announcement was made in front of the historic building, which dates back to the 19 th century and from 1908 – 1993 housed Jno. S. Solenberger Co.
The student housing project is among several initiatives outlined in a Memorandum of Understanding between Shenandoah University and the City of Winchester. The purpose of the memorandum and its projects is to promote economic development and improve the quality of life for area residents.
"We are excited about the wonderful living areas this space will provide for Shenandoah’s 21-and-older student population," President Fitzsimmons said. "This new housing option will appeal to many students, fitting into their active lifestyles while encouraging them to take advantage of living in the downtown Winchester area."
The university is acquiring the building for use as an investment property and will voluntarily pay taxes on the building, which will not remove the structure from the city’s tax rolls. Shenandoah’s plans include apartment-style housing with 33-35 beds as well as commercial space to be leased in the front of the building. The university estimates completing the renovations and occupancy by students in fall 2011.
Shenandoah’s acquisition of the building is the result of a significant investment by the university in addition to a generous donation by the Adams Family and the Adams Companies. The official transfer and its details will be finalized in July.
"The ongoing and cooperative relationship between the city and the university will continue to bear fruit as we explore areas of mutual interest and concern and, when appropriate, collaborate with each other to provide solutions for the benefit of the entire community," Winchester City Council President Jeff Buettner said, adding that more young people living downtown will encourage business development to meet the retail and entertainment need of residents and their visitors.
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