Banker and Tradesman reported today:
Northeastern’s announcement that it will be teaming up with Phoenix Property Co. and the YMCA to build a 720 bed dorm is the latest in a growing series of signs the freeze on college construction is starting to thaw.
Under the deal, Phoenix will put down $21.5 million to buy two wings of the YMCA of Greater Boston complex that is adjacent to the Northeastern campus on Huntington Avenue.
Phoenix, under its deal with the university, will then spend another $75 million to build a new Northeastern dorm, which will face St. Botolph, the Northeastern News reports.
Meanwhile, Boston University recently won city approval for a $50 million student center, with plans to begin construction next year.