2010 Construction Projects at UC San Diego Total $568 Million

More than 300 construction workers on Wednesday afternoon will celebrate with UC San Diego faculty, staff and students the 'topping off' of the $67 million Health Services Graduate Student Housing complex. The project, consisting of 225 two-bedroom apartment units is scheduled to be completed in September 2010. The uniquely designed nine-story apartment development is one of six major projects under construction at UC San Diego this year, all of which are changing the skyline of the campus at a combined total cost of $568 million. ?An investment of $568 million would support roughly 16,200 jobs, including 5,500 onsite construction jobs,? said Kenneth Simonson, chief economist for the Associated General Contractors of America. ?The San Diego metro area has lost more than 26,000 construction jobs in the past three years and these projects will bring much needed work to a suffering industry while creating structures that will deliver value for decades. No state taxpayer funds are involved in five of the six projects. Four student apartment projects will be financed with a total of $269.6 million in low-interest University of California bonds to be repaid by student housing fees, plus $7.1 million from campus housing reserve funds.