Student Housing Towers; Artist's rendering courtesy of Design Collective, Inc. Student Housing Towers; Artist'srendering courtesy of Design Collective, Inc.

HOBOKEN, NJ—Late last month, the New Jersey EducationalFacilities Authority unanimously approved the issuance of bonds notto exceed $270 million that will help the Stevens Institute ofTechnology finance the construction of two new student residentialtowers and a new, three-story university center here.

The financing for the developments, to be located in the heartStevens' Hoboken campus, is anticipated to include a tax-exempt anda taxable series of bonds, all or a portion of which are authorizedto be issued as Green Bonds. Green Bonds are traditional municipalbonds the proceeds of which are used for environmentally beneficialprojects.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.