University of Mississippi Expands On-Campus Housing

News Summary

The University of Mississippi plans to add 3,500 new dormitory beds due to rising enrollment. With current housing over 90% capacity, the university is partnering with private developers to enhance affordability and availability. Initial completion of new residences is projected by summer 2027, with the full plan wrapping by summer 2029. Additional developments include new sites around campus, addressing the significant demand for student housing.

University of Mississippi Expands Student Housing with New Developments Amid Rising Enrollment

OXFORD, Miss. – Big changes are coming to the University of Mississippi, with plans to build an additional 3,500 on-campus dormitory beds by 2029! With student enrollment on the rise, the university is taking exciting steps to ensure there’s enough housing for everyone.

Shifting Plans for Student Housing

Initially, back in August 2023, the university announced plans to construct three new residence halls on the former lot of Kincannon Hall. However, those plans were shelved due to skyrocketing construction costs that blew the budget out of the water. Now, the university is reevaluating its strategy and is actively looking for private developers to partner with, making housing more affordable for students.

This new approach will still include housing at the Kincannon site, but also expand to a few other locations around campus. The plans for additional housing will see developments at:

• The undeveloped site next to West Row, near the UM School of Law
• The current South Parking Lot on Athletics Lane
• A site adjacent to the South Campus Recreation Center

Timelines and Expectations

The first new residences are projected to be completed by summer 2027, with all developments expected to wrap up by summer 2029. This timeline is critical, as the university’s current capacity of 5,687 bed spaces is far from sufficient for the burgeoning student body — especially considering that first-year enrollment has nearly doubled in just a few years, jumping from 3,037 in fall 2020 to an impressive 5,973 in fall 2024.

Why the Change?

With enrollment projections looking ahead to an estimated 25,163 students by the 2025-2026 school year, the university is feeling the heat. Almost all campus housing is operating at over 90% capacity, particularly during peak periods. The use of public-private partnerships (P3) in this new plan is an opportunity for the university to manage costs while ensuring that necessary facilities are built. These partnerships are becoming quite popular, with other universities like the University of Utah already on board.

Developer Selection Process

Currently, the university is evaluating bids from developers, with a selection expected soon. While an initial deadline was set for March 21, 2024, there has been a slight delay, and no final decision had been reached as of March 26. The chosen developer will enter an agreement lasting 45 years, with options to extend that partnership further.

A New Development at RISE Oxford Farms

In a related effort to address the growing housing demand, GTIS Partners and RISE are also in the works on a new student housing project, RISE Oxford Farms. This project will add 504 beds and is set to be completed by the 2026-2027 academic year. Featuring amenities like a gym, swimming pool, and easy shuttle access, this development is sure to attract many future students.

Housing Market Insights

The current market for student housing around the campus is tight, with preleasing rates hitting 90.2% for the current academic year, significantly outpacing the national average. It seems there’s a genuine demand-supply imbalance, making it necessary for the university to ramp up its housing offerings. Past criticisms have highlighted missed opportunities for developing adequate housing and parking infrastructure to keep up with rising enrollment. It appears that Ole Miss is finally putting plans into motion to address these long-standing issues!

As the city of Oxford looks ahead, the future of student housing at the University of Mississippi is bright and bustling with potential. The Board of Regents and Mississippi Institutions of Higher Learning are expected to weigh in on the upcoming pre-development agreements in April or May 2024, paving the way for what could be a transformative period for all involved.

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Additional Resources

• The Daily Mississippian: University Seeks Private Partner to Alleviate Student Housing Shortage
• Wikipedia: Student Housing
• MultiHousing News: GTIS, RISE to Build 504-Bed Student Housing Community
• Google Search: Student Housing Partnerships
• Yield Pro: RISE Oxford Farms
• Google Scholar: Student Housing Developments
• Business Wire: Seven Hills Realty Trust Closes $42.0 Million Bridge Loan for Student Housing Property
• Encyclopedia Britannica: Housing
• GSL Global: HPM Announces Topping Out of Student Housing Building at Mississippi State University
• Google News: Student Housing Trends
• GlobeSt: Student Housing Pre-Leasing Activity Down From Last Year