We have several plans in the works for Student Housing, which is always a key priority at the University. With respect to residence buildings, our longer-term plan is to take down or rehabilitate our current residence halls as we are financially able. We remain firmly committed to the importance of the freshman experience and will continue to have our freshmen live with a roommate in a group setting in our residence halls. The interaction that occurs in this living environment fosters a higher degree of engagement, retention, and ultimately, graduation.
In addition, we have taken a new approach to juniors and seniors, and have leased a series of brand new 4-story apartments from a private developer that we operate just like a residence hall. The response to these living accommodations has been very positive and the developer has built second complex of these apartments for our use. We are also interested in developing suite-style residences that provide a little more independence and privacy for older students. We are currently looking at proposals for these developments. We will continue to explore innovative ways to finance student accommodations through third party providers so the University can use its funding for academic facilities, rather than for student housing.
The University is also exploring changes to the arrangement of Greek Housing on and near campus. A part of the Master Plan for the growth of the University, these changes may include removing sororities from Scheele Hall, allowing them to seek a house-style residence. The possibility of consolidating Greek Houses in an exclusive area, referred to as a “Greek Village,” is also being considered.