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Tuesday, December 13, 2011

University of Kentucky to privatize student housing


"The University of Kentucky is getting out of the student-housing business and plans to turn over its dormitories to a private company that will upgrade and manage the aging properties.
The university said Monday it's negotiating with Education Realty Trust Inc. to transfer control of nearly 6,000 beds and apartments. The new owner will redevelop much of those rooms and build more than 2,500 beds in the next five to seven years.

While several colleges have entered into public-private partnerships in recent years to replace a portion of their student housing, the University of Kentucky would be among the first major institutions to turn over its entire student housing stock to a private real estate company." 

"Partnerships between colleges and private companies can be complicated. Such arrangements require close working relationships with the many entities that make up the campus community.

"It can be a difficult path to go down because no matter what, [companies] are beholding to their investors. So their end goal is different from an institution's end goal," said Michael Coakley, a student housing official at Arizona State University, which has worked with a private developer."


Gee...  I think of about a billion reasons why this is a really bad idea.  I'm going to follow up on this post as I dig for a few things I've seen/read.


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