The University of Toledo’s partnership with American Campus Communities to manage on-campus residence halls is off to a strong start with a successful fall 2022 move-in of approximately 1,700 students.
The national student housing partner took over operations of UToledo’s housing assets in June.
Initial plans to renovate residence halls as part of the 35-year ground lease agreement, however, will not take place immediately. Current market conditions including increased interest rates and higher construction costs due to inflation are limiting the impact of the planned investment through the partnership.
“The University is committed to upgrading our residence halls so that we can enhance the on-campus living experience for our students, but with market conditions the way they are our dollars don’t go as far,” said UToledo President Gregory Postel. “Right now, we are exploring the best way to move forward so we can make the most of our investment and provide students the amenities they want.”
The University is evaluating its options to simply pause the planned upgrades until market conditions improve or to move forward with issuing its own debt to fund desired renovations.
“We will move forward with the campus housing upgrades, but the timing of when they happen is being adjusted,” Postel said.
The residence halls slated for renovation include Presidents Hall, International House, MacKinnon Hall, McComas Village, Ottawa House and Parks Tower. UToledo plans to close Academic House.
