Holy Cross College (HCC), in the shadow of Notre Dame, was traditionally considered a Junior College with high “commuter” attendance, while offering 2-year associates degrees. As such, its campus buildings surrounded a parking lot, offering commuters easy access to the various campus buildings.
In recent years, HCC began offering a full 4-year baccalaureate program to students. Its enrollment subsequently grew, as did demand for on-campus housing. HCC solved this immediate need by renting approximately 60 bedrooms off campus from a nearby apartment building for $500/mo, or $360,000 annually.
Holladay assisted HCC in assessing its needs for additional on-campus housing, and in the process created an offering that allowed the campus to shed its “commuter campus” image by reconstructing its parking lot on the perimeter of campus, and returning center parking area to a campus green with meandering sidewalks and improved building connectivity. Additionally, Holladay constructed a brand new, state-of-the-art 72 bedroom apartment style dormitory.
The total cost of the project, approximately $3.6M, was structured in a lease-format with payment of approximately $300,000 per year, resulting in a dramatically improved student offering, a much more evolved and traditional “campus” feel through parking relocation, and an ability to draw student back on campus for an improved experience.
HCC alumni became very excited about the changes coming to campus, and through a giving campaign, the school was able to purchase the building outright prior to the completion of the project, which was approximately 12 months from start to finish.