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UPIKE partners with USDA for new facility
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The U.S. Department of Agriculture Rural Development announced a $40 million Community Facilities direct loan to the University of Pikeville, according to a release from the university.
The loan will be used for a new facility for the Kentucky College of Optometry, the release stated.
“UPIKE and the USDA successfully partnered on the Coal Building, a $32 million facility that houses the Kentucky College of Osteopathic Medicine,” James L. Hurley, president of UPIKE, said in the release. “This new investment will provide opportunities on many fronts, including education, health care and economic diversity. With our nationally recognized medical school, and now a college of optometry, we are establishing an integrated health care model for rural medicine.”
According to the release, the project is estimated to cost $52 million. The university has received other funds for the project, including a $5.5 million applicant contribution, $3.7 million in private donations, a $1.5 million Appalachian Regional Commission grant and a $1.3 million Department of Commerce grant.
“USDA invests in projects such as the college of optometry because they not only create jobs, they are essential to improving the quality of life for rural Kentuckians,” Thomas G. Fern, state director of the USDA, said in the release. “Community Facilities projects are vital for the creation and maintenance of strong rural communities. Rural Development is proud to assist such a worthwhile project that will provide tremendous economic, medical and educational benefits to the region and the state.”
Construction is scheduled to be completed by the summer of 2016, according to a press release from the USDA. The program will allow for a total capacity of 240 students.