Universities get creative with private partnerships
With competition for new students rising at U.S. colleges and universities, extravagant campus amenities are booming in an effort aimed at drawing tuition-paying prospects.
But lazy rivers, bowling centers and movie theaters with free popcorn aren’t as widespread at institutions that rely on state funding, which are grappling with reductions in government contributions. Instead, many schools have focused on partnering with the private sector and startups, says Kevin Wayer, President of JLL’s Public Sector and Higher Education business.
“University-led development has to distinguish between what’s worth spending money on, and what’s a gimmick,” says Wayer. “It has to be an investment for the future.” …