The University of North Florida’s recently-opened Osprey Ridge dorm completed construction under budget, leaving extra funds to add new amenities for its student residents, according to UNF officials.

Campus officials said the $77 million bonded project stayed on track for its fall 2025 deadline and under budget. Chris Wainwright, director of campus planning at UNF, said the surplus funds will be used to add extra amenities to Osprey Ridge, although no construction timeline is available.

Wainwright said the plans include an outdoor workout station with shade structures, and a landscaped walkway leading to the north side of the building, connecting to the pickleball and volleyball courts.

“It’s because we came in under budget that these are possible,” Wainright said.

For this project, Wainwright said it was essential for it to be ready for students to move into for the fall semester. Students signed housing contracts last spring, before the construction was even completed.

“Even with two hurricane days last year, we were able to stay on track,” Wainright said.

John Hale, associate vice president of Administration and Finance at UNF, explained that a bonded project is essentially a public loan that must be repaid. Hale said this is common for housing projects because they aren’t funded by the state.

“The state doesn’t fund housing projects,” Hale said. Supportive facilities, including residence halls, are generally financed through debt issuance and donations, according to the State University System of Florida.

To ensure repayment, the budget incorporates projected revenue based on the number of beds and signed leases. In other words, UNF plans to repay the loan using income generated from leases at Osprey Ridge.

During the design process for large projects like this, Hale said a construction manager is always hired to prevent unexpected costs and to ensure the project moves forward without issues.

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