OXFORD, MS — To keep pace with record enrollment growth, the University of Mississippi will partner with private developers to build new student housing using a public-private partnership (P3) model — a first of its kind for student housing in the state.

For fall 2024, Ole Miss reported total enrollment across its seven campuses at 27,124 students, including 5,973 freshmen — the largest freshman class ever in Mississippi and an 11% increase over last year. With demand for on-campus living rising, university leaders say new housing is critical to supporting students and the university’s continued growth.

Last week, the Mississippi Institutions of Higher Learning Board of Trustees approved plans to move forward with building 2,700 new beds at two sites on the Oxford campus through a P3 arrangement.

“This partnership allows us to meet growing demand for student housing in a way that’s both financially responsible and student-focused,” Vice Chancellor for Administration and Finance Steven Holley said. “A P3 approach also allows us to preserve university resources to invest in other priorities, such as new academic and research spaces that enrich the campus experience and strengthen our national reputation.”

Ole Miss said the P3 approach will help control costs and accelerate construction. While new for Mississippi, such partnerships are common nationwide.

The new housing will rise on the site of the former Kincannon Hall, where 1,200 beds will be built, and across from the law school on West Row, which will hold the remaining 1,500 beds. Both sites will include new parking garages, and West Row will also get a new 20,000-square-foot dining hall.

Construction will use modular building methods through Greystar’s Modern Living Solutions business. Despite the modular design, the university says more than 70% of the construction work will be performed on-site by local and regional subcontractors.

“At the heart of our mission lies our unwavering commitment to giving students the best experience possible, which is why this project is vital to addressing one of the most important aspects of the student experience: housing,” said Chancellor Glenn Boyce. “This transformative partnership with Greystar will provide a unique and exceptionally efficient approach to expanding housing options on campus.”

The IHL Board’s approval allows Ole Miss to begin a pre-contractual agreement with GS Development Services Central LLC (Greystar). This phase includes feasibility studies, site work, design planning, budgeting, and other pre-development tasks. “UM’s maximum financial exposure in case of termination for this agreement is $13.4 million, based upon an escalating schedule of cost incurred for due diligence during the pre-development phase,” Senior Associate Commissioner for Finance Dr. John Pearce explained to the Board.

The final contract ends when a future ground lease is established or by December 31, 2026 — whichever comes first.

According to IHL Board documents, six proposals were received through the university’s RFP process and narrowed to three finalists. Greystar was ultimately selected for its competitive cost and other advantages.

Board member Charlie Stephenson said touring Greystar’s modular facility in Pennsylvania helped confirm their decision. “Several of us flew up to Pennsylvania to look at the facility where they’re building this equipment,” Stephenson said. “I was impressed with the quality of the construction and the quality control they have within the facility. I think like any facility when it’s time to pick the fixtures and such, that’s something that should be reviewed carefully for long term maintenance. But I think it’s a quality product and (it will be) interesting to see how this progresses.”

Completion of the new housing and dining facilities is slated for 2027.

Originally reported by Jeremy Pittari in Magnolia Tribune.