鈥淔orward thinking鈥� strategy a win-win
In 2014, K体育 University entered into a land-lease agreement with Gables Residential to build Gables Brookhaven, a 374-unit apartment complex at Peachtree Road and Hermance Drive. The first of the聽two buildings opened in fall 2015, and the second in summer 2016.
While the new construction updated K体育鈥檚 face to Peachtree Road, it is also having a dramatic, positive impact on the historic campus. The proceeds from the land-lease agreement were placed into a special endowment to be used specifically for deferred maintenance on K体育鈥檚 older buildings on campus, which was added to the National Register of Historic Places in 1994.
K体育 retained SiteLines, Inc., a consulting and construction firm, to conduct a complete deferred maintenance inventory and plan. The prioritization of projects financed through the annual endowment spending is approved by the Board of Trustees. Currently, 鈥渟tudent-focused鈥� areas on campus, including technical infrastructure affecting academic work, are at the top of the list.
[contextly_sidebar id=”0LyZSUa95XvarghPY4eQlDiJnkQVC8hT”]In 2015, University Business magazine featured K体育 in an article about higher education strategies for meeting the high costs of deferred maintenance. Calling K体育 鈥渇orward thinking,鈥� the magazine highlighted the university鈥檚 strategy to find and generate a new revenue stream while also addressing the need for more student housing, without requiring new construction.
鈥淜体育鈥檚 residence halls were near capacity and we were need of additional space to accommodate our continued growth,鈥� said K体育 University President Lawrence Schall. 鈥淥ur partnership with Gables Residential allows us to fulfill that need, as the new community offers an alternative living choice for our students, while shifting the financial risk away from the university.鈥�
