Coborn Plaza Apartments
Wednesday, May 19, 2010
Coborn Plaza Apartments on Fifth Avenue offer unmatched campus living at prices that nearly match off-campus rates.
That's the calculation of Department of Residential Life officials managing the 455-student housing complex opening in August on the former Coborn's grocery store site adjacent to campus.
At first blush, the studio, two- and four-bedroom units at Coborn Plaza appear much more costly.
But, factor in brand-new furniture and appliances, paid utilities including expanded basic cable, wireless internet with university network access, private bathroom, state-of-the-art security features, in-unit washer and dryer and other amenities and the value-to-cost difference narrows considerably, according to Dan Pedersen, director of residential life.
"This high-amenity, high-value housing option is unmatched for St. Cloud State University students," said Pedersen.
View a 30-second video about the apartment complex:
A limited number of $200 scholarships are available for students who refer someone who contracts for an apartment. For details view the real-costs comparison (PDF).
St. Cloud State is leasing the housing complex and a 12,000 square-foot welcome center from the J.A. Wedum Foundation, a Minneapolis non-profit that develops housing for students and seniors.
The apartments will operate with Residential Life staff, policies and procedures.
Coborn Plaza is the initial phase of Fifth Avenue Live, a $165 million mixed-use development expected to remake both sides of Fifth Avenue from Ramsey Place north to Minnesota Highway 23. The pair of four-story buildings will also have 20,000 square-feet of retail space.
Proposed per person rental rates are:
Students who complete terms of a 12-month agreement are eligible for a 2 percent discount. The discount will be applied on the last month of the contract term. There is a surcharge for some larger two- and four-bedroom units.
Fifth Avenue Live is a project of 5th Avenue Development, LLC, a partnership that includes the Coborn family, Cornerstone Construction of St. Cloud, and local attorney and St. Cloud State alumnus, Brian Schoenborn.
The university recently named the two buildings to honor the Coborn family's community contributions.
Apartment amenities include: