College and university investment in facilities projects fell by 19 percent year over year in 2021 as capital improvement projects slowed or stopped amid the pandemic, a recent report shows. College operating budgets declined by 9 percent year over year.
Gordian, a facility and construction cost data and software company, analyzed more than 52,000 buildings on over 300 campuses. The resulting report shows that nearly one-third of all campus buildings are between 10 and 25 years old.
More than half of facilities leaders told Gordian they had greater influence on campus since the pandemic began.
“Across higher education, focused facilities stewardship and capital planning are more critical than ever. The findings from this year’s report further invigorate our mission to help institutions prioritize investments and drive meaningful outcomes within their communities,” Mark Schiff, president of Gordian, said in a statement.