The proposed College Town carries an estimated price tag of $100million, according to Karen Kavanaugh, EVP of administrativeaffairs for the university. Preliminary plans for the project,which is located near both Rutgers Stadium and the Louis BrownAthletic Center, call for 650 rental apartments and townhomes inthree- and four-story buildings, with about two-thirds of themdesignated for student use. About one-third of them would be marketrate and 80 units would be designated as affordable housing.

The early plan also calls for approximately 100,000 sf ofcommercial space, about half of which would be small-shopconvenience retail and the rest designated for university-relateduse. The entire project would be laid out on a street grid tocreate a small-town feeling, according to university officials.

Rutgers has hired Yaffee Prescott Architecture and EDAW Inc. ofNew York City to flesh out the project's conceptual plans. Ernst& Young is also studying the financials of College Town at thebehest of the university.