The UMW Foundation will begin construction of apartment-style student residences, a secured transportation center, a pedestrian bridge spanning U.S. 1, and new retail, restaurant and “Class-A“ office space on seven acres at the northern end of the shopping center. At a cost of $115 million, Phase I is expected to begin in March 2009 with an estimated completion date of summer 2010.

Eagle Village will be a pedestrian-friendly residential and retail mixed-use village for townspeople, students and faculty to shop, live, work and enjoy entertaining facilities, all within a sustainable “green“ urban setting.

“Our announcement today marks the beginning of a long-term effort not only to enhance the UMW experience for our students, but also to provide benefits for residents of the City of Fredericksburg,“ said UMW President Judy Hample. “I am proud to be working with the City to explore innovative ways to improve our community together.“

Two five-story apartment buildings will be constructed to accommodate 620 students. Each apartment will house four students and will feature two large bedrooms, two full baths, a living room and a full kitchen.

The complex will have a concierge desk for 24-hour security and a resident manager. The residences will be reserved for upper-class students and may be available for summer conference groups.

The addition of these residences will relieve overcrowding on campus, allow the university to renovate its current residence halls and reduce demand for student rental units and parking in local residential neighborhoods. They also will allow the university to save the remaining green space on campus originally slated for the two residence halls. Those sites are now reserved for future University use.

The 221,000-sq.-ft. transportation center will feature 540 automobile spaces, some of which will be reserved for electric and fuel efficient vehicles, as well as large bicycle corrals. It will be fully-secured through security cameras, a gated entry⁄exit and card swipe access for users. It also will be connected to the student residences by a covered walkway. Access will be reserved for students and office tenants.

The transportation center will incorporate retail and office space on the ground level. The 30,000 sq. ft. of retail space will be leased to current tenants of Park & Shop who wish to relocate, as well as new tenants currently being attracted to Eagle Village. This also will include several restaurant spaces with large outdoor dining terraces. Parking will be added around the perimeter for patrons of these stores.

An additional 36,000 sq. ft. of “Class-A“ office space will be constructed over the retail shops and will include private elevators. Even though it is a tax-exempt organization, the UMW Foundation will continue to pay real estate taxes to the City of Fredericksburg on all commercial portions of the development.

Finally, the pedestrian bridge will be an extension of the University's Campus Walk that spans 214 ft. across U.S. 1. It will be 14 ft. wide to allow passage by pedestrians, bicycles and golf carts used on campus.

The bridge, along with the rest of the new construction at Eagle Village, will be built in the Jeffersonian architectural style of Fredericksburg campus, with red bricks and cupola-topped towers at each end. It also will be fully enclosed with glass sides.

“It is our intention to build a monumental gateway to the city that also allows safe passage across Route 1 for our students, faculty, staff and local neighbors,“ said Jeff Rountree, CEO of the UMW Foundation.

According to Rountree, the City of Fredericksburg benefits from the project by continuing to receive real estate taxes on the commercial portion of the property, an increase in sales tax revenue from the addition of new businesses, the transformation of an older shopping center into a vibrant community-centered village with expanded retail and cultural offerings, the reduction of student demand for rental units and parking within the City, and the possibility of contributing to the City's Comprehensive Plan and the JumpStart Plan.

Eagle Village is owned and managed by the University of Mary Washington Foundation, a private 501c3 organization with a mission to accept, manage and administer assets for the benefit of the University of Mary Washington. As such, no student fees or state funds are being used in the purchase or development of the property.

The UMW Foundation has a large portfolio of holdings. Its current $25 million-plus in real estate assets include the UMW Apartments on William Street, residential housing, office space and hundreds of acres of undeveloped land in the region. The Foundation's endowment also supports the university by funding scholarships, professorships, student programming, academic programming and other special projects.