At the Feb. 23, 2012 meeting, the NJIT Board of Trustees approved the development of the residential Warren Street Village. The new residential Honors College will include 360 beds, computer labs, project studios, a library, student lounges, student government offices and guest apartments.
The new homes in the Village will include 5 duplex houses for fraternities and sororities. The Greek houses will provide living, dining and chapter space on the first floor, and sleeping quarters on the upper two floors. “Our Greek students are among the most involved student groups on campus. The new housing will offer even more opportunity to hone leadership skills and increase networking and socializing opportunities,” said NJIT President Joel Bloom. “Greeks and Honors students are typically the two groups on campus most committed to community service. They will be our outstanding Warren Street Village residents.”
Financing for the Warren Street Village will be provided through tax-exempt bonds issued by NJIT to be repaid over the 30-year-term from rental income. Construction is expected to be completed by August 2013.