ATLANTA — The Board of Regents selected on Wednesday, Nov. 12, a campus-housing partner for the initial phase of the University System's Public-Private Partnership (P3) initiative for on-campus student housing, which includes housing at the University of North Georgia (UNG). The initiative is expected to help maintain the affordability of housing for students and improve the fiscal health of the University System of Georgia (USG) by providing financial tools and resources while reducing student-housing debt by nearly $300 million.
"Quality, safe, affordable housing for students is our priority," said Chancellor Hank Huckaby. "We expect our initiative will generate innovation, operating efficiencies and best practices in student housing to improve the quality of the on-campus housing experience for our students."
After a competitive bid process began in April 2014, the USG selected Corvias Campus Living for a $517 million agreement to develop 3,683 new beds and manage 6,195 existing beds of on-campus housing for nine institutions with the USG for the next 65 years. The new housing is scheduled to be ready for students in fall 2016.
"We are always looking at ways to keep costs down and still provide a quality education and student services," Huckaby said. "The Public-Private Partnership initiative will help keep the cost of student housing provided by our colleges and universities low and affordable."
In addition to UNG, the participating campuses are: Abraham Baldwin Agricultural College, Armstrong State University, College of Coastal Georgia, Columbus State University, Dalton State College, East Georgia State College, Georgia Regents University, and Georgia State University.
Each campus' approach will be tailored to the needs of the individual institutions, allowing the campus to attract, educate, retain, and graduate a growing number of students. The USG will retain oversight of the campus-housing partnership and have a governance process in place, and campuses will continue to be responsible for residence life programming for students.
At UNG, the contract involves the transfer of Owen Hall's maintenance and financial responsibilities to Corvias Campus Living. Corvias also will be responsible for construction of a new, four-story residence hall with approximately 530 beds at the intersection of West Main Street and Walker Drive in Dahlonega – across the street from UNG's Dining Hall.
The summary of the USG agreement can be viewed online: USG_Corvias_2014.pdf.