Green Bonds Fund University of Cincinnati Renovation
CINCINNATI — The University Cincinnati (UC) has become the first public university in the country to issue Green Bonds for new construction. The school began issuing the Series 2014C bonds the first week of December to support the majority of costs related to the $35 million renovation of Scioto Hall, expected to be complete in fall 2016. The project will increase the university’s housing capacity and was spurred by its record fall enrollment of more than 43,600 students, the highest in its nearly 200-year history.
The university is designating this series as a Green Bond, as it meets the voluntary, best practices Green Bond Principles established in January 2014 by environmental finance experts and banks, according to a Robert Ambach, the university’s senior vice president for administration and finance.
“Since sustainability is woven into all aspects of the university in terms of academics, research and extracurricular activities, it only made sense to further extend that to our financing,” Ambach said. “UC is already nationally recognized for our sustainable energy efficiencies and savings and our high-performance green buildings. That momentum will only continue at UC, and this step is an important milestone in our focus on sustainability.”
Similar to the work completed on Morgens Hall, the renovation will transform the underutilized Scioto Hall into a modern, energy-efficient, on-campus residence for approximately 450 University of Cincinnati upperclassmen. Beds will be spread across 140 apartment-style suites with a specific focus on energy efficiency and responsible material use.
The renovation will replace the hall’s existing concrete and brick exterior with 2,000 high-tech glass panels, creating an attractive and energy-efficient facade. Each two quarter-inch thick panel will include a half-inch of air space and have low-emissive properties, making it superior to standard glazing options by preventing heat loss or gain, according to the university. These partially fritted panels will also feature a reflective pattern, which will add another degree of insulation, decreasing solar heat gain by 20 percent. The panels will work together with interior, custom-fit roller shades that will increase energy efficiency and user comfort while decreasing heating and cooling costs, according to the university. Upon completion it will — both literally and figuratively — mirror Morgens Hall.
Additionally, the new and improved Scioto Hall, which was originally designed by Cincinnati-based F.W. Pressler & Associates, will include modern mechanical systems geared specifically toward energy efficiency. Post-renovation, the university expects to see energy savings similar to those documented in Morgens Hall, which is structurally similar to Scioto. Following energy efficiency upgrades, Morgens Hall saw a 46 percent decrease in overall energy consumption when compared to pre-renovation figures.