Construction on the corner of Brown and Stewart streets will include 50 new apartments, which are scheduled for occupancy no later than the 2007 fall semester.

The apartments will cover the entire second floor of University Place, and will initially be up for lease to only University of Dayton graduate and law students.

'I am excited about this project,' said Jason Woodard, a developer for Miller-Valentine Group. 'It's going to be neat and it is a great location for law students.'

Miller-Valentine's property management group will ultimately lease all units, but residential services will be referring students in need of housing to the company. This may be good news for graduate and law students who are married or have children, because residential services only places single students without dependents in UD-housing.

Leasing details have not been fully determined by Miller-Valentine Group, but apartments will have a 12-month lease versus UD-housing leases, which end after nine months.

The building will house 48 single bedroom and studio apartments that range in size from 475 to 575 square feet, and the remaining two larger apartments will have two bedrooms.

Each apartment will be unfurnished, but equipped with a stove, overhead microwave, refrigerator and high-speed Internet connection. The building will also include laundry facilities, a community room and, with extra payment, a permanent parking space.

Woodard said exact rent had not been set, but it would be comparable to graduate housing on Plumwood and L streets, and a flexible payment plan could be arranged. As of this year, graduate students pay $3,310 a semester for an efficiency on L Street, and a two-bedroom on Plumwood costs each roommate $3,680 a semester. In terms of monthly rent, students are paying $735 for an efficiency and more than $800 for a two-bedroom.

The first floor of University Place will be designated for retail and dining establishments. In addition to the Arby's restaurant, which has already signed a lease, Woodard hopes to have a full-service dining restaurant and retailers that support a college lifestyle. Announcements concerning new proprietors will be given by the end of the year, Woodard said.