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$885M Dorm Overhaul

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 $885M Dorm Overhaul
University of Ill  Executive Director of Student Housing Jack Collins.
For the first time in 40 years, the University of Illinois Urbana-Champagne is overhauling an area of its undergraduate residences, says director of student housing Jack Collins. For a total development cost of $885M, the university will build 3,400 new beds for undergrads and upgrade dining facilities. The school will replace one building every four years until they’re all done. Jack will provide more details on his projects, plus a panel discussion on trends in student housing, at Bisnow’s Chicago Student Housing Summit, Dec. 6, W Chicago – City Center. Register here!
480-bed dorm, Ikenberry Commons, U of Ill Urbana-Chanpagne

A new 480-bed residence hall opened this fall at Ikenberry Commons (above), a 490-bed residence hall is in construction, and a third one is being planned with the architect and engineer, Jack tells us. He says the university has been able to get financing by selling bonds. A major concern is how to absorb the debt, Jack says. (Isn't this what student loans are for?) The plan is to repay it as part of operating costs. It’s clear that the new facilities are needed for the university to compete for students. The old facilities—tiny bedrooms, one bathroom for 45 students, heating and cooling controlled building-wide—won’t cut it.