"According to a report from the higher education publication Best Colleges, at least 84 public or nonprofit colleges have announced they would merge or close over the past five years. Almost half of those are outright closures, as small colleges struggle to keep up with rising costs amid falling enrollment. In many instances, the shuttering of a college means the mothballing of its campus."
"One of the firm's most recent projects is the Newbury of Brookline, a luxury senior living community in Massachusetts built from and around the former buildings of Newbury College, which shuttered in 2019. Located just outside Boston, the campus centered around a historic mansion and had been used by the college since the early 1980s. Now, that historic mansion has been joined by a newly constructed six-story building that holds 159 units of independent, assisted, and memory care living facilities for seniors."
At least 84 public or nonprofit colleges have announced mergers or closures over the past five years, with almost half being outright closures as small colleges face rising costs and falling enrollment. Shuttered campuses are sometimes mothballed, but a growing number are being repurposed as senior living facilities. Campus assets such as scale, existing infrastructure, and open space support adaptive reuse for independent, assisted, and memory care. Conversions often combine historic buildings with new construction and include amenities like pools, fitness centers, art rooms, and rooftop bars, with some luxury rents starting around $10,000 per month.
Read at Fast Company
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