Company selected to develop student housing

Old Dominion has selected Ambling Companies Inc. to develop and construct about 300 units of student housing in the University Village development project.

The units will accommodate about 1,000 students, with the first phase of the two-phase project slated for completion in 2003. The 450,000-square-foot project will be financed through the use of tax-exempt bonds.

"Ambling has an impressive portfolio, but more importantly, the students who live in their properties are pleased with their 'home-away-from-home,' and that's what we want for our students," said Robert L. Fenning, vice president for administration and finance.

Ambling, which operates residential facilities at universities across the nation, will oversee site demolition and the construction of the apartment-style units over the next 2 1/2 years.