UMass Boston Developments | Columbia Point | Dorchester

Digital_Islandboy said:
Who's bright idea was it to outsource it?????

[ . . . ]
The dorm was built, and is operated, by a private, for-profit company that leases land from UMass. Students make their housing payments directly to the company, Capstone Development, which will own the building for 40 years. After that, ownership will revert to UMass.

Capstone Development spent $119.4 million building the dorm, while UMass Boston contributed $18 million for staff, the dining hall, and other services, according to a university spokesman.

A Capstone spokeswoman, Nicole Ivanovich, said the company has been working with its contractor and subcontractors to respond quickly to “residual construction-related issues.”

“Most have been able to be repaired or resolved in short order. A few issues required the ordering of materials or parts [and] have taken a bit longer,” Ivanovich said in a statement. She said the number of issues has been “relatively modest — particularly given the size and complexity of this community.”

“We regret any inconvenience to student residents in addressing these items. We will continue to provide prompt and professional attention to any construction related repairs that are needed,” the Capstone statement said.

Sodexo declined to comment.
[ . . . ]


By the time this building becomes owned by the Commonwealth it may have caved in already. "Let the private sector do it" they say. "The private sector is always better they say...." Well voila!
Click to expand...

My understanding is that UMB has maximized it's debt, and could not afford to build these without going the PPP route (private/public/partnership). That was from the horses mouth.

So it was either wait to pay down existing debt, and not have on campus living. Or, go private.

It then is not the cash cow that dorms normally are for universities, but they don't have additional debt they can't afford.

However, I agree, that when these are handed over in 40 years, there will be a major cost to upgrade or maintain them, and won't be cash cows then either.
 
RFI responses for the Calf Pasture site as reported on the dotnews website

www.dotnews.com

Developers offer ideas to UMass on Calf Pasture site | Dorchester Reporter

Eight high-powered developers have submitted a variety of ideas for the mixed-used development of the historic late nineteenth-century Calf Pasture Pumping Station and an adjacent site owned by UMass Boston on Dorchester’s Columbia Point.
www.dotnews.com www.dotnews.com

p1 calf pasture pump option 2 REP 39-20 copy by Bos Beeline, on Flickr

p13 Calf Pasture aerial map REP 39-20 copy by Bos Beeline, on Flickr
 
20210617_130523.jpg
 
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New Balance commits $10 million to UMass Boston for sports institute​

By Staff
December 27, 2023
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“The University of Massachusetts Boston has received a $10 million commitment from Boston-based New Balance Athletics, Inc. to establish the New Balance Institute for Innovative Leadership in Sport on the Columbia Point campus. The gift will provide operational funds to launch the institute and endow it in perpetuity.
The commitment and the institute build on the New Balance Sport Leadership program founded at UMass Boston with a $5 million gift in 2018.

“This is a brilliant partnership,” said UMass Boston Chancellor Marcelo Suárez-Orozco. “UMass Boston is the natural academic home for the New Balance program and this new institute. Innovative and interdisciplinary, the program prepares students for exemplary careers in sports management while offering a robust social justice platform to advance excellence, equity, diversity, and human rights in sports. This aligns with our foundational idea that a UMass Boston education is designed to have impact and serve the greater good.”

Since the program opened in fall 2019, it has grown to 127 students majoring in sport leadership and administration, with another 34 students having already graduated. Students in the program have participated in a combined 10,000 hours of internships in the sport industry.

“We are excited to expand our investment in UMass Boston through this institute, which reflects New Balance’s focus on advancing opportunities for transformational leadership, innovation, and diversity in our industry,” said Jim Davis, New Balance Chairman. “Chancellor Suárez-Orozco and Dr. Joe Cooper have done a tremendous job to establish the Sport Leadership & Administration program. We look forward to seeing how this institute will enable the power of sport to positively impact our communities and create change-making sports leaders for the future.”

https://www.dotnews.com/2023/new-balance-commits-10-million-umass-boston-sports-institute
 
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