Many states have cut back funding for higher education in recent years, and securing money for new housing has been tougher than ever for many colleges and universities. A recent residence hall project in Boston involving three colleges provides an inspiring example of how necessity can spawn invention in financing strategies.
Massachusetts College of Art and Design, a state school, partnered with its neighbors Wentworth Institute of Technology and Massachusetts College of Pharmacy and Health Sciences (now MCPHS University, and known locally as Mass Pharma), both private institutions, to construct its Tree House residence hall. Making the deal pencil out required some deft real estate maneuvers.
First, Wentworth transferred a parking lot to MassArt to allow the site to be expanded. Next, Wentworth and MCPHS University contributed $700,000 toward the cost of building out a student health center that all three schools now share. Then MCPHS agreed to sublease a substantial number of the building’s 17 residence floors to house its students, which helped to defray MassArt’s costs. The last step saw Mass-Art secure state funding to complete the financing for the $54 million project.
“The project wouldn’t have happened without the participation of Wentworth and Mass Pharma,” says Kurt Steinberg, who was appointed Acting President of MassArt in August. The 21-story, 145,600-sf structure is located amid pricey real estate near renowned museums and the Longwood Medical District. Boston’s construction costs are among the nation’s highest.
© Chuck Choi
Steinberg says the college didn’t want Tree House to upend the pricing structure of MassArt’s campus housing. “Our goal was to not have the new beds be more expensive than the beds in our other two residence halls,” he says. Mass Pharma leases 260 of the 493 beds; a portion of the rent—$1,000 per bed—goes toward housing scholarships for MassArt students.
The 20-year lease gives MassArt the option to take over the space now occupied by MCPHS University after 10 or 15 years. Should MassArt exercise that option, its on-campus housing would be able to accommodate about 44% of its students, mostly freshmen and sophomores, doubling its total housing capacity.
Designed by ADD, Inc., the Tree House was inspired by Gustav Klimt’s “Tree of Life.” The 280-foot-tall structure stands as proof that three institutions can combine forces to build a facility that fulfills the needs of all parties.
© Lucy Chen
Related Stories
Museums | Feb 26, 2018
*UPDATED* Design team unveils plans for the renovated and expanded Gateway Arch Museum
The goal of the project is to create closer and more robust connections between the Gateway Arch Museum and the landscape of the Jefferson National Expansion Memorial.
Architects | Feb 23, 2018
AIA elevates 152 members and two international architects to the College of Fellows
AIA Fellowship recognizes significant contributions to profession of architecture and society.
Airports | Feb 21, 2018
Terminal Modernization: Why Bother? Part II
This is the second post in our series examining why airport operators should bother to upgrade their facilities, even if capacity isn’t forcing the issue.
Urban Planning | Feb 21, 2018
Leading communities in the Second Machine Age
What exactly is the Second Machine Age? The name refers to a book by MIT researchers Erik Brynjolfsson and Andrew McAfee.
Retail Centers | Feb 20, 2018
Is there a future in retail banking? Part II
It is critical to not view the physical branch as just another sales channel, but as an important touchpoint along a customer’s journey.
Architects | Feb 15, 2018
AIASF Equity by Design to launch 2018 Equity in Architecture Survey
AIA San Francisco (AIASF) and the Equity by Design Committee, launched the third national Equity in Architecture Survey on February 12, 2018. Building upon the survey conducted in 2016, the third survey will further advance the national movement for equitable practice in the profession.
Urban Planning | Feb 14, 2018
6 urban design trends to watch in 2018
2017 saw the continuation of the evolution of expectations on the part of consumers, developers, office workers, and cities.
Office Buildings | Feb 13, 2018
Office market vacancy rate at 10-year low
Cautious development and healthy absorption across major markets contributed to the decline in vacancy, according to a new Transwestern report.
Architects | Feb 12, 2018
AIA selects seven individuals to receive the 2018 Associates Award
The recipients will be honored at the AIA Conference on Architecture 2018 in New York City.
Architects | Feb 9, 2018
AIA's 2018 Young Architects Award honors 18 recipients
The Young Architects Award recipients will be honored at the AIA Conference on Architecture 2018 in New York City.