The College Amenities Arms Race
A free movie theater. A 25 person hot tub and spa with a lazy river and whirlpool. A leisure pool with biometric hand scanners for secure entry. A 50 foot climbing wall to make exercise interesting. And a top-of-the-line steak restaurant with free five course meals.
This isn’t a list of items from a resort brochure. They’re facilities you can find on a college campus. And with college construction costs rising, it could be the best four-year getaway you’ve ever had.
In 1995, American colleges spent a total of $6.1 billion annually on construction projects, according to a study by College Planning and Management. It peaked at $15 billion in 2006. Spending dipped after the recession, but costs have been on the rise—culminating in $10.9 billion in 2013.