The forces of change are reshaping the physical landscape of America s colleges and universities. Administrators are balancing compressed needs to repair and renovate old buildings at a time when new construction for research and increased technological services are on the cutting edge for attracting qualified faculty and students. Today, the median age of all campus buildings is 28 years. The recession of the late 1970 s to early 1980 s and subsequent periodic economic downturns have hampered maintenance of these facilities, as well as new development.
Public institutions are in an especially vulnerable position when attempting to meet capital needs.
Private institutions often have access to reserves or debt capacity to address their capital needs and recently have been given access to additional sources. In contrast, public colleges and universities, which lack the budget flexibility or access to reserves of their private counterparts and are at a competitive disadvantage relative to private institutions in securing philanthropic donations, rely on federal and state funds and bond placements for nearly half of construction and renovation monies. Several factors will place even greater pressures on higher education facilities in the coming years. College campuses are currently in the midst of a new wave of increased enrollment, driven mainly by traditional students. Creating infrastructure to support new technologies is currently in the forefront of capital needs.