Dorm being planned for Valley Street?

cramer said:

annielou said:
Seton Hall just built a huge structure on their own property, not sure what it is, but if their student housing is an issue, why did they not build a dorm? 

If someone else is willing to build a dorm, SHU is down with that. This way, it has funds it can use for other purposes. SHU has to borrow for whatever it builds - the rating agencies look at how much SHU has in total debt.  

There are companies that build and operate apartments that have the look and feel of high-end dorms.  Is that what is going on here?

tjohn said:

cramer said:

annielou said:
Seton Hall just built a huge structure on their own property, not sure what it is, but if their student housing is an issue, why did they not build a dorm? 

If someone else is willing to build a dorm, SHU is down with that. This way, it has funds it can use for other purposes. SHU has to borrow for whatever it builds - the rating agencies look at how much SHU has in total debt.  

There are companies that build and operate apartments that have the look and feel of high-end dorms.  Is that what is going on here?

I think FilmCarp has been actively involved in the discussions and can answer that. It's my understanding that the building will not be limited to SHU students, but they're certainly who would be renting most of the units. 

If it goes through, which is not certain, it will be a private dorm that is fairly high end, but not out of line entirely with what kids pay on campus.  It would be run by a professional management company.  It is aimed at Seton Hall students, and would require cosigner's for the leases, but by law can't ban anyone from renting who meets their criteria.  Some think that will lead to odd boarding house type stuff, but I do not agree.  What I like is that it would pay regular taxes, no pilot or anything, and obviously would not add kids to our schools.  But it is still up in the air.

FilmCarp said:
If it goes through, which is not certain, it will be a private dorm that is fairly high end, but not out of line entirely with what kids pay on campus.  It would be run by a professional management company.  It is aimed at Seton Hall students, and would require cosigner's for the leases, but by law can't ban anyone from renting who meets their criteria.  Some think that will lead to odd boarding house type stuff, but I do not agree.  What I like is that it would pay regular taxes, no pilot or anything, and obviously would not add kids to our schools.  But it is still up in the air.

 I think this is consistent with a trend in student housing -- more private companies providing it and not the universities themselves.  This model is pretty widespread in the UK and other parts of Europe, and appears to be increasing in the U.S. as well.