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Just after purchasing the Light House at Brooklyn Yards apartment complex in October, FAMU is again eyeing the purchase of another apartment complex near campus.
When the Board of Trustees meets tomorrow, they are expected to approve a measure which would allow university officials to enter into negotiations to purchase Citivue at Railroad Square Apartments (google rating 3.5 stars), a 116-bed housing complex, at 600 E. Eugenia Street in Tallahassee.
According to Board documents, the purchase prices is not to exceed $12.5 million or the appraised value. The university is likely to use a portion of its unspent pandemic relief funds. Since 2020 FAMU received roughly $195 million in pandemic relief funds from Congress. FAMU received another $116 million in loan forgiveness from Congress for the money it borrowed to construct the new 700-bed FAMU Towers Complex and refinance Polkinghorne Village.