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Capital Investment in College Facilities Surged to 11-Year High, According to Sightlines ReportThe amount of capital investment dedicated to existing campus facilities by North American colleges and universities reached an 11-year high in 2017, according to a new report from Sightlines, a Gordian company and leader in facilities planning and benchmarking analytics. The sixth annual "State of Facilities in Higher Education" report found that total capital investment into existing properties on college campuses reached nearly $5 per gross square foot in 2017. This caps a steady climb that began in 2011 and is the highest figure recorded since 2007. The report is based on comprehensive data collected and analyzed by Sightlines from more than 360 college and university campuses annually, which collectively operate more than 52,000 buildings that serve 3.5 million students. "Capital investment in existing properties has finally returned to - and even eclipsed - pre-recession levels," said Mark Schiff, President of Sightlines. "In addition, a larger share of this funding is coming from recurring capital sources, as annual stewardship funds have increased by more than 50 percent from 2007 to 2017. These funds represent a long-term commitment to addressing building renovation needs. Still, the positive trends in capital investment levels and mix of funding are not keeping pace with growing project lists." The report also identified a potentially challenging trend for college facilities managers. A deep dive into the ages of existing buildings on hundreds of campuses indicated the coming need for major capital investments. "Higher education has seen two major waves of building construction, one from 1950-1975 and one from 2000 to present day," said Schiff. "This profile tells us that within the next 10 years, these two cohorts of buildings will both be demanding high levels of capital investment at the same time. The largest demand for capital investment that higher education has ever seen is bearing down on us, whether or not the resources to meet that demand exist." Other notable trends identified in the report included:
About Sightlines, a Gordian Company Founded in 2000, Sightlines, a Gordian company, gives colleges and universities the independent data and perspective they need to make critical decisions about their most valuable assets - their facilities. Sightlines stewards the industry's most extensive verified database, allowing more than 450 institutions across the U.S. and Canada to benchmark an institution's facilities against universities and colleges across the nation. Sightlines' flagship offering for members is ROPA+, a fully integrated solution for facilities intelligence that leads members through a comprehensive process of facilities benchmarking and analysis. Other Sightlines solutions provide higher ed executives with insights to assist with capital planning, space management and campus sustainability initiatives. For more information, please call 203.682.4952, go to http://www.sightlines.com or email [email protected]. About Gordian Gordian (www.gordian.com) is the leader in facility and construction cost data, software and services for all phases of the building lifecycle. A pioneer of Job Order Contracting, Gordian's solutions also include proprietary RSMeans data and Sightlines facility benchmarking and analysis. From planning to design, procurement, construction and operations, Gordian's solutions help clients maximize efficiency, optimize cost savings and increase building quality.
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