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'High-End' Housing Option for Students
CHICAGO, IL (May 2, 2006) - North Park University students now have a "high
end" housing option with the school's purchase of a condominium
conversion project, says a school official.
"The entire building has been gutted," says Carl Balsam, executive vice
president and chief financial officer. "It will be of the quality of a
new condominium with modern amenities."
When completed, the project - the Sawyer Court residences - will provide
about 100 beds in 28 separate units at the corner of Sawyer and Argyle,
south of the school, Balsam says. Two units will be for the residence
director and an office.
The new units were necessary because of increasing enrollment, Balsam
says. Most of the student housing has been full this year and
projections suggest the number of students will continue to grow.
The building will be completed by the fall and already has proved
popular with students. "During the housing lottery, everybody wanted
in," Balsam says. "They didn't have any problem filling it."
Students will each pay $5,000 a year to stay in the unit compared with
$4,650 to stay in a regular off-campus apartment, Balsam says. Dorm
residences are $3,950 a year.
Students must be at least sophomores to live in the units and be able to
demonstrate diversity among the roommates before being eligible for the
lottery, through which off-campus student housing is assigned, Balsam
says. That diversity may include a number of possibilities - city and
rural, ethnic, as well as international.
Balsam says each unit will have a "basic furnishing program" for each of
the bedrooms that will include beds, desks and dressers. The modular
furnishings have been used in other university apartments and can be
arranged in multiple ways.
A "modest amount of furnishings" will be included for the living rooms,
Balsam says. Administrators hope that will cut down on items students
move into each unit, thus reducing any possible damage.
A developer already had begun the conversions, but had not begun
advertising them when the university entered into negotiations, says
Balsam. The school's architect is overseeing modifications that need to
be made for student housing.
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