By Tom De Poto/The Star-Ledger
Lior Naor is a junior at Rutgers University living in Rockoff Hall in downtown New Brunswick. She won the apartment through a lottery that about 12,000 students looking for housing enter every year.
“I love it,” the psychology major said. “The location is great and there’s a lot of Rutgers students in the area.”
In February, however, a private, Pennsylvania-based company purchased the building for $44.1 million.
Naor will be returning in September and didn’t have to enter any lottery. Instead of paying Rutgers, she’ll be sending a monthly rent check to McKinney Properties, which bought the building.
The Economic Stimulus Act of 2009 paved the way for public colleges to partner with private developers to keep up with demand for upscale dorms without taking on more debt.
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