Ice Miller served as underwriter's counsel to HJ Sims in connection with the $69,630,000 Series 2026 bond financing for The Park at South Stadium, a purpose-built student housing development in downtown Fresno, California, which closed on May 28, 2026.

Proceeds of the bonds are being used to fund the construction of a 174-unit, 587-bed community that will integrate housing with educational programming through the affiliated Campus of Life platform of Ascent 613, helping address a structural undersupply of quality student housing in the Fresno market.

The development has been planned for more than a decade and has struggled to obtain financing since 2016. The financing team delivered creative solutions to address issues that had previously prevented the project from accessing the market, with construction expected to begin in August 2026 and opening anticipated in summer 2028.

Ice Miller's Role as Underwriter's Counsel

Ice Miller served as underwriter's counsel to HJ Sims on this student housing bond transaction, supporting the due diligence process and providing strategic legal counsel on the critical components of the financing, including:

• Compliance with securities laws governing tax-exempt and taxable municipal bond offerings
• Senior and subordinate sources of funding, including bonds and loans
• Preparation of transaction documentation and coordination of the closing process

Ice Miller played a key role in successfully closing this public finance transaction. The Ice Miller Public Finance team included:

• Partner Ben Kitto
• Associate Brian Magorien
• Practice Group Specialist Victoria White

About The Park at South Stadium

The Park at South Stadium is a brand-new, purpose-built student housing development in downtown Fresno, California, sponsored by Ascent 613, a nonprofit organization focused on creating educational, community-oriented living environments. The community will combine student housing with educational programming offered through Ascent 613's affiliated Campus of Life platform. Development is being led by The Park Partners, LLC, a subsidiary of JCI Development, Inc., and The Noyan Company, a seasoned team with extensive experience in student housing and mixed-use development. Located in a market experiencing rising student enrollment and a structural undersupply of quality housing, the project is designed to meet the growing demand for modern student residences in the Fresno area.

Learn More About Our Public Finance Bond Financing Services & Underwriter's Counsel

Ice Miller's Public Finance team delivers comprehensive, end-to-end support on every transaction—guiding clients through due diligence, document drafting, post-issuance matters, and continuing disclosure with deep expertise in securities laws and regulations, disclosure requirements, and ongoing compliance obligations. We are proud to support educational financings that bring stability, flexibility, and enduring value to the communities they serve. Whether you're navigating a complex bond issuance or seeking guidance on any public finance matter, our team is ready to help.