Roosevelt's "Vertical Campus" a Risk

The new face of Roosevelt University, the thiry-two story, blue glass skyscraper on Wabash near Congress, certainly spices up the South Loop’s skyline. But according to a post in the Chicago Reader, this $123 million “vertical campus” is a risky investment for a university already straddled in $248 million of debt.

“Everyone I've talked with is smitten by what they've seen of the building. The financial situation behind it? Not so much.

Projections of continued enrollment growth were used to justify the debt load and escalating multimillion dollar annual payments. According to one of its own brochures, the university was projecting‘a 50 percent increase in the number of full-time equivalent students at the Chicago campus between 2007 and 2017.’

But that’s not how it's worked out so far. In 2008, the total number of students (part- and full-time, on both campuses) was 7,692,an all-time high. Then both enrollment and, to a lesser extent, credit hours took a dive. From 2008 to 2011, the total number of students fell 14 percent.”

The university says the building will ultimately contribute to the long term well-being of the city.

What do you think? Do you like the new visual dynamic the building brings to the loop and Sloop?

(Hat tip: SS!)