Originally Posted by
jellidawg
If you are talking about the recently demolished dorms, the retrofit cost would have been astronomical to get it to the standards that a paying customer would want to spend money to stay there. I know that I would not want to subject my family to communal bathrooms with 10 other families. I would be willing to bet that just the plumbing retrofit to install bathrooms in each "suite" would be in excess of $5M. And then you haven't gotten to the structural repairs, HVAC components, fire protection, elevator rehabs, interior walls, windows, finishes, or furniture. I would be willing to bet that a retrofit to turn one of those old dorms would be in the ballpark of $20-$30M (just a gut feeling).
Assume 20 rooms per floor, 10 floors, $165/night, every room is filled one night per game weekend, and 6 home games in a football season. This would generate ~$200K/year. Just on the lower figure, not including interest, labor for housekeeping, maintenance, or utilities, it would take 10 football seasons to pay off the bonds.