Using private investors to meet higher education’s facilities needs
Huffington Post - 04/25/2016
Concurrent with Mr. Walsh’s vision is a growing interest by the area’s colleges and universities. Northeastern University hired Phoenix Property Co, for example, to construct its high-rise East Village for $96.5 million.
Writing in the Boston Globe, Tim Logan notes: “East Village is the first dorm in Boston to be financed by private developers, and two more – including a second at Northeastern and one at UMass Boston – are being planned using private financing and private operators. Several other local colleges and universities are exploring the idea, and other schools are watching closely.”
Mr. Logan also notes Northeastern officials believe that private construction and management of these dorms will allow the University to spend its money on other priorities, such as a new $225 million science end engineering building.