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USC turns to developers for help with growth - Live5News.com | Charleston, SC | News, Weather, Sports

USC turns to developers for help with growth

COLUMBIA, S.C. (AP) - The University of South Carolina plans to build off-campus-style housing and classroom space with the help of developers, a move that school officials hope will not add to its debt load.

The new development would occur near Colonial Life Arena, continuing USC's shift westward toward the Congaree River.

The school's debt load is more than $500 million.

The popularity of a dozen off-campus housing complexes has caused USC to try to attract some of the 22,000 students who now live elsewhere.

USC chief financial officer Ed Walton said developers could build a dorm with more than 500 beds and a building with at least 60,000-square-feet of classroom space by the time school starts in fall 2014.

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