AM 1240 WJON — St. Cloud State University is ramping up marketing efforts to reduce financial losses from the Coborn Plaza Apartments.
The apartments have 453 student units. SCSU President Earl Potter says occupancy hasn’t kept up with projections, in part because the apartment business model was put together just before the Great Recession.
“Nobody across the Country expected the greatest economic downturn since the Great Depression. The projections under the business model were very optimistic, they assumed a 95 percent occupancy rate. That’s not a wise position to take in retrospect.
Read more: http://wjon.com/scsu-looks-to-minimize-financial-losses-from-coborn-plaza-apartments/
