1:30-2:30 pm ET
The costs of long-neglected deferred maintenance for university buildings, infrastructure and student housing are compounding and rising, while higher education is facing even higher costs of doing business and downward revenue pressures.
According to the national association for higher education facilities administrators (APPA), universities and colleges collectively face a shortfall of a record $30B for what they variously call deferred maintenance or deferred renewal of deteriorating campus buildings such as student housing, academic facilities and recreation spaces. The higher education industry is increasingly turning to public-private partnerships (P3s) to develop student housing and other campus projects, sometimes using the financing structure to transfer borrowing and liability risks to the private sector.
P3s can be very beneficial, especially when it comes to preserving strong balance sheets and credit ratings. However, there are a variety of ways a campus can approach and implement a P3.
This session will help you:
1. Understand how a P3 can provide an avenue for mission advancement while maintaining financial stability and control over assets and the student experience.
2. Discover how Wayne State University operationalized a new strategy for how on-campus housing could achieve the following objectives:
a. Enhance recruiting and retention efforts;
b. Provide on-campus housing for every student who desires to live on campus;
c. Supplement a constrained off-campus market;
d. Limit the impact of new construction and renovations on the institution’s credit and balance sheet;
e. Free up cash and credit resources to pursue other mission critical initiatives; and
f. Provide new housing for the fall 2018 semester.
- Geoff Eisenacher, vice president, partnership solutions, Corvias
- Timothy L. Michael, associate vice president and chief housing officer, division of student auxiliary services, Wayne State University
- Fran Ahern, senior director, design and construction services, Wayne State University
- Richard Rieth, principal and P3 advisor, Rieth Jones Associates
Many thanks to the generous support of our sponsor, Corvias