Universities turn to private developers for housing

July 30, 2007
Many schools are outsourcing residence hall projects.

Many universities are outsourcing their campus living operations to deal with tightening budgets and replace outmoded student housing. A $50 million, 150-unit student apartment complex called the Radian will open in August 2008 at the University of Pennsylvania in Philadelphia. It will have a fitness center, 24/7 cafe, club room and sun deck. The Radian is being built and financed by a private developer on land leased by the university. The arrangement is similar to two other deals Penn has done for apartment complexes. Temple University in Philadelphia has a similar development. Emory University in Atlanta is about to break ground on one, and Johns Hopkins University in Baltimore just completed a student housing project with private money.

Click here to read The Philadelphia Inquirer article.

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