CHICAGO, IL. The Chicago State University Foundation has announced its selection of The Scion Group to complete a new student housing business plan based on the findings of market and operations analyses submitted by Scion in 2010. Scion’s business plan will include an examination of the program phasing and financing options for delivering new single and family student housing to the campus.
Scion’s work will include conducting a business planning workshop with University and Foundation leaderships, developing a program of space and development budget, considering rental rates and contract length, incorporating operating expenses and examining financial performance. Scion will also consider whether a public-private partnership is financially and legally feasible. Finally, Scion will recommend conditions for feasible development.
Founded in a rail car in Blue Island, Illinois in 1867, Chicago State University is today a fully accredited public, urban institution located on 161 acres in a residential community on Chicago’s south side and enrolls nearly 7,200 students in 36 undergraduate and 25 graduate degree-granting programs. The University’s Division of Continuing Education and Non-Traditional Programs reach out to the community with extension courses, distance learning and not-for-credit programs. The Chicago State University Foundation was chartered in 1967 as an independent, charitable organization with the sole purpose of soliciting, receiving and administering private gifts to Chicago State University in order to secure the University’s future.