By Michael Wafford
A partnership between CSU Bakersfield and Gregory D. Bynum and Associates for the University Office Park has been approved.
The 61,300 square-foot project first phase of the project will cost $10.4 million according to a press release issued by CSUB.
Split into multiple phases, Phase I include an office facility on 4.3 acres with 253 parking spaces.
“We are very pleased that the Board of Trustees has approved this project which received conceptual approval from the Board in 2006, but did not move forward because of the downturn in the economy. I am very pleased that Greg Bynum and Associates has been willing to work with us on the project now that the economy is recovering,” said CSUB President Horace Mitchell, in an email.
The project, is being fully financed by the developer of the project.
A long-term lease agreement will get CSUB $131,000 annually for the first 10 years for Phase I.
The second phase of the project till include two office buildings, 591 parking spaces and a 315-space parking structure. This second phase will total 220,700 square feet.
Phase II will provide $212,000 annually during its first 10 years.
“The long-term intent of this project is to provide high quality office space on the university campus that will promote and encourage direct involvement for the business community with administration, students and faculty. This collaboration will allow for student internships, potential research collaboration, employment of graduates, and income for the university’s educational mission,” said Greg Bynum, of Bynum and Associates.
