Eastern Michigan leases housing to private companies in exchange for renovations
Eastern Michigan University will give up student housing fees to two private companies for the next 35 years.
The university is passing the revenue from student housing to EMU Campus Living LLC and Gilbane Development Company in exchange for two new residence halls, demolition of older units, and the renovation of all remaining residence halls except one that was recently renovated.
EMU’s Board of Regents approved the leasing of the campus housing system to EMU Campus Living, LLC. Under the agreement, the company will design, build, renovate, maintain, improve, and operate most aspects of the buildings in the University’s housing system. Gilbane Development Company was selected as EMU’s student housing system operations partner in December 2021.