Troy University To Demolish Alumni Hall, Build New Dorm
Troy University is moving forward with a $15.6 million construction of a new dorm. Alumni Hall has been an all-male residence hall since 1966.
The University announced they will knock it down this June and build a new state-of-the art facility.
It will not be completed until August 2015, so hundreds of students will need to find a place to live. This is good news for off campus realtors, who were concerned at the beginning of the year with unusually high vacancy rates.
Adam Drinkwater, Qualifying Broker Landmark Realty said, "There are a lot of kids that that's the only dorm they can afford, so if they come back with something newer and nicer, they are probably going to need something that is more in their price range and there's a lot of properties on the market that are going to be in their price range."
Currently Alumni Hall costs students around $1,400 a semester. The university plans to convert an all-female community dorm to all male to keep a cheaper alternative like Alumni Hall available on campus.