Now that development rights have been sold, What now?
Posted
#231293
(In Topic #36179)
Wise Owl
Member since 2007
Now that development rights have been sold, What now?
FAU - We got Bowls!
Posted
VIP DONOR
Member since 2007
Re: Now that development rights have been sold, What now?
duder said
This may have been covered previously, but what will happen now that the new dorms are "owned"(I use that term loosely) by an outside entity? I've read several articles and hear the same old, "FAU will remain the face of the dorms". But I'm just curious as to how this will work in reality. Does anyone know of any schools where this has happened already and/or have any experience with this. I'm not trying to criticize the decision by any means, I'm just curious. I'm glad they took that step and have finally made our stadium a reality.
I believe the University of Texas-San Antonio has a similar agreement. UCF may too.
The University still sets policies, hires the RAs, maintains the buildings, etc., but pay a percentage to the building "owner."
If I'm correct in my analogy, it's almost like the building is owned by Crocker and FAU is now the landlord.
Anyone have more experience with this stuff?
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Posted
Wise Owl
Member since 2006
Re: Now that development rights have been sold, What now?
Posted
Wise Owl
Member since 2007
Re: Now that development rights have been sold, What now?
smittysahoot said
duder said
This may have been covered previously, but what will happen now that the new dorms are "owned"(I use that term loosely) by an outside entity? I've read several articles and hear the same old, "FAU will remain the face of the dorms". But I'm just curious as to how this will work in reality. Does anyone know of any schools where this has happened already and/or have any experience with this. I'm not trying to criticize the decision by any means, I'm just curious. I'm glad they took that step and have finally made our stadium a reality.
I believe the University of Texas-San Antonio has a similar agreement. UCF may too.
The University still sets policies, hires the RAs, maintains the buildings, etc., but pay a percentage to the building "owner."
If I'm correct in my analogy, it's almost like the building is owned by Crocker and FAU is now the landlord.
Anyone have more experience with this stuff?
Smitty,
I like your analogy, that makes sense to me. It may be backwards though, with Crocker owning the building, and FAU providing all the services, (Ra's, staff, maint.), just like when you rent an apartment. In any case, it looks like this has worked for other schools, so my concerns are eased. I just worried if some other company ran certain dorms, that there may be some sort of seperation/non-compatibility between building residents. Maybe a different key system for FAU owned dorms versus Crocker Dorms, and extra fees in the new dorms versus the FAU dorms. But it looks like that won't happen so let's get the shovel's workin for that stadium.
FAU - We got Bowls!
Posted
Bytor
Member since 2004
Re: Now that development rights have been sold, What now?
All details are being work-out now and will be part of the final presentation.
It's still a pretty good deal regardless of what the economy is doing - all party's involve will benefit and FAU gets to move forward covering many needs including housing issues. Still gives us opportunity to secure naming rights which should be easier to secure once the stadium is in the process of being built.
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