MEMPHIS, Tenn., July 25, 2008 (PRIME NEWSWIRE) -- Education Realty Trust, Inc. (NYSE:EDR), a nationwide leader in the ownership, development and management of student housing, today announced that its third-party development services subsidiary, Allen & O'Hara Development Company, LLC. ("AODC"), has been selected as the development team for the construction of a new student residence hall project at Colorado State University-Pueblo (CSU-Pueblo) in Pueblo, Colorado.
The $15.7 million, 253-bed, Phase I CSU-Pueblo residence-hall will be located on the northwestern side of the campus, will contain both single and double rooms, classroom space and study rooms. Project construction began this month and is expected to be completed in August 2009. The first phase is part of a multi-phase initiative to address a housing shortage at the university. CSU-Pueblo is a comprehensive state university with an enrollment of more than 4,000 students, including nearly 200 international students.
Mr. William Harris, President, Allen & O'Hara Development Company, commented, "Receiving a new third-party development contract reflects our excellent reputation of delivering on-time, on-budget student-oriented developments. We are thrilled to be an important part of the exciting growth and plans for the future of CSU-Pueblo."
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Statements about the Company's business that are not historical facts are "forward-looking statements." Forward-looking statements are based on current expectations. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the company's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements. Such risks are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and as described in our other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and EDR undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
About Education Realty Trust
Education Realty Trust, Inc. (NYSE:EDR) is a self-administered, self-managed real estate investment trust that owns, develops and manages high-quality student housing communities throughout the United States. Led by a team with over 200 years of shared industry experience, EDR is one of America's largest owners and operators of collegiate student housing. The Company has ownership and management interests in 69 properties with 41,329 beds in a total of 21 states. For more information please visit the company's Web site at www.educationrealty.com.