UMass pursues P3 on student housing

By Berry Craig IV
P3 Kentucky Staff Writer

Colleges and universties frequently tout housing options to attract students. The cost of building campus housing is often astronomical — the University of Kentucky recently completed a $450 million dollar project to build 6,850 new spots for students. That’s nearly $66,000 each.

The Committee on Administration and Finance of the UMass board of trustees voted this week to move forward with a process that will explore an arrangement between a private developer and the university to bring a 1,000 bed development at some point in the coming years.

Because the university is constrained by an 8 percent debt ceiling, Tony Marouli, executive director of external relations and university events, said having a private partner is an avenue to add housing consistent with the university’s master plan.

The UMass system has seen public-private partnerships play out on other campuses. At UMass-Boston, Capstone Development Partners LLC built a $120 million, 260,000-square-foot residence hall on land leased from the state, and another project is underway on the UMass-Dartmouth campus.

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