Plan to sell student housing complex now on hold - WALB.com, South Georgia News, Weather, Sports

Plan to sell student housing complex now on hold

ALBANY, GA (WALB) -

A proposal that could lead to the University System getting out of the student housing business is now on hold.     

The system planned to sell a student housing complex at ABAC in Tifton as part of a pilot program involving eight campuses.     

College officials say one of the main benefits would be relieving college foundations of debt incurred by building dorms.     

ABAC's Foundation owes about 45-million dollars from student housing built in 2004 and 2007.

"They want to get that relief, they will feel good about it because what that would do is free up some of their debt issues," said Melvin Merrill, Director of Capital Planning, ABAC.       

The system initially planned to start taking bids from outside investors in December, but leaders decided to delay it while they work out details.

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