IHEs Outsourcing Housing To Gain Luxury Apartments On Campus

The Radian is being built and completely financed by a private developer on land leased by the University of Pennsylvania. The arrangement is similar to two other deals Penn has done for apartment complexes recently completed on Chestnut Street. Increasingly, universities nationwide are outsourcing their campus living operations to deal with tightening budgets and replace outmoded dormitories. Temple University in North Philadelphia supported a similar development, the Edge at Avenue North, last year with a local developer. Emory University in Atlanta is about to break ground on one, and Johns Hopkins University in Baltimore just completed a student housing project with private money. Read more at:
http://www.philly.com/philly/education/20070728_At_Penn__a_new_degree_of_comfort.html