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Collegiate Accommodations: UK Explores public-Private Partnership to Improve On-Campus Housing
by Andrea Stang, 1.17.2012, Business Lexington
Lexington, KY – As the University of Kentucky looks to improve and expand its on-campus housing, one option currently under consideration is a public-private partnership with Memphis, Tenn.-based Education Realty Trust (EdR).
The two entities are in negotiation as the university examines whether it would be more economical for it to pursue a partnership or a traditional university-issued bond. In the past, the university would issue bonds and pay for the debt interest with revenue from residence halls. With the current option, EdR, one of the country’s largest owners, developers and operations of collegiate housing, would cover the expenses of building and renovating the buildings, using no taxpayer dollars and with no financial commitment from the University.
EdR has selected Sherman Carter Barnhart as the architect and Messer Construction as the general contractor for the proposed project, and they have said that they plan to pull as many employees as possible for the project from the local market to stimulate the economy in Lexington…Read more at BixLex.com
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