Loyola Marymount University Sells $90 Million in 'Green Bonds' to Finance New, Sustainable Dorm Buildings

LOS ANGELES – In a statewide first, Loyola Marymount University (LMU) has sold approximately $90 million worth of "green bonds" via the California Educational Facilities Authority to construct new, sustainable student housing on the university's Westchester campus.

Green bonds are financing instruments that earn the special green designation because their proceeds will be used for environmentally friendly or sustainable projects. LMU is the first university to sell green bonds through CEFA.

"LMU has always strived to make our campus as environmentally responsible as possible, and by selling green bonds, we're expanding that undertaking to include our financing as well," says University Treasurer Caroline Wilhelm. "While it's exciting to take this step, it's also a path LMU knows well."

The new student housing, which will replace several older dormitories at LMU, will include energy-efficient design and construction, and is expected to qualify for LEED Silver certification. The buildings will be constructed in accordance with the university's Master Plan, a development agreement between LMU and the city of Los Angeles that was approved in 2011.

The project will increase the number of students living on the main LMU campus, thus reducing its carbon footprint by cutting down the number of car trips taken by non-resident students commuting to and from campus.

"Loyola Marymount's commitment to sustainability is embraced at all levels of the university, including our finance operations," says Chief Financial Officer Thomas Fleming. "Selling green bonds is a natural fit for the university. This action reaffirms our ethos and helps expand the marketplace for those seeking environmentally responsible investments."

LMU has long been a leader in campus sustainability efforts, with endeavors ranging from the 90,000 square feet of solar panels on university buildings to its on-site recycling center. The Sierra Club recently included LMU in its list of the 20 greenest colleges and universities in North America.

Last year, LMU became the first Jesuit Catholic university to sign on to the United Nations Principles of Responsible Investing, pledging agreement with the global network's guidelines for incorporating environmental, social and governance factors into investment decisions.

About Loyola Marymount University
Loyola Marymount University, the University of Silicon Beach, is ranked in the top 15 percent of higher education institutions nationally by The Wall Street Journal. Founded in 1911, LMU is a Catholic, Jesuit, and Marymount university with more than 6,100 undergraduate students and more than 3,000 graduate and law students. LMU offers 58 undergraduate majors and 53 minor programs, along with 46 master's degree programs, one education doctorate, one juris doctorate, one doctorate of juridical science and 13 credential/authorization programs.

Featured

  • Nonprofit Launches Center to Boost Data-Driven Student Success Strategies

    National nonprofit Complete College America (CCA) recently launched the Center for Leadership, Institutional Metrics, and Best Practices (CLIMB), according to a news release. CLIMB’s ultimate purpose is to help higher-education institutions use data-driven strategies to improve student outcomes by providing tools, frameworks, and support.

  • Fellowes Launches New Textile Collection

    Fellowes Contract Interiors recently partnered with Momentum Textiles & Wallcoverings to launch a new line of high-end-design, cost-effective textiles, according to a news release. Part of Momentum Textiles’ Kickstart collection, the new selection offers high-quality and versatile textiles for both smaller budgets and the early design phase of larger projects.

  • Boise State University Starts Construction on New Academic Building

    Boise State University in Boise, Idaho, recently broke ground on the new ESI Construction Management Building, according to university news. The university is partnering with Engineered Structures, Inc., for the building’s construction.

  • bar graph with the bars made out of abstract cinder blocks and other construction materials

    Spaces4Learning 2025 Trends in K–12: Materials & Construction

    With 2025 well underway, it’s time to take a look at some broader trends submitted by you, our Spaces4Learning readership. We asked for your thoughts on topics like classroom design, health & safety, materials & construction, and technology in both K–12 and higher-education environments. Below is a roundup of 2025 trends in K–12 materials and construction from the experts in the trenches.