- Colorado School of Mines invests in 800-bed sophomore dorm
- Growing trend of colleges solving affordable housing shortage
The Colorado School of Mines is turning to the muni market for the second time in six months to address a housing shortage for its growing campus of roughly 7,000 students just outside of Denver.
The investment-grade deal, managed by Morgan Stanley, is slated to raise nearly $200 million to fund the construction of more affordable housing for sophomores, according to bond documents. In October, the school sold $132 million of debt to renovate a student complex called Mines Park, adding roughly 520 beds to the apartment-style community for more senior and graduate students.
The science and engineering school, located in Golden, Colorado, about 15 miles (24 kilometers) outside Denver, is part of a growing cohort of colleges facing a housing crunch in already competitive markets.
Bloomberg Markets
By Melina Chalkia
March 13, 2024