News
HERE COMES PRIVATIZED STUDENT HOUSING
June 16, 2011
| It's only a matter of time until we see the privatization of on-campus student housing, according to Place Properties chairman and CEO Cecil Philips; he spoke this morning at Bisnow's Student Housing Summit where 200 of you joined us at the Westin Buckhead. | |
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| It will become increasingly difficult for universities and higher ed institutions to finance and pay for more student housing, so they'll farm out the management and ownership to private developers and companies, Cecil said. He was one of a four student housing gurus featured at the event, with Carter's Andy Feinour, Preiss Cos' founder and CEO Donna Preiss, Choate Construction's Millard Choate, and moderator Reznick Group's Wes Hudson. But such a move is facing headwinds from school-hired housing staffers worried about losing jobs to the uncertainty of being the first to do such a move. While privatizing student housing would be ?pioneering? for a university, Cecil says the schools don't see it that way. Instead, a school that does it would be seen as a ?guinea pig.? | |
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| We caught up with Millard and Jones Lang LaSalle's Brian Terrell during the Schmooze portion. Brian tells us JLL just won the program management contract with the University of West Georgia, where the school will develop a two-building, 600-bed student housing complex. He and Millard are also working together on finishing a new dining facility and bookstore at North Georgia College. Lots more was said and revealed at our Summit. Be sure to come back |
