GCU beefs up plans for Mesa campus with $35M new dorm











What luck for the rulers that men do not think.

~Adolf Hitler (1889-1945)


Oct 29, 2013, 2:49pm MST Angela Gonzales  Senior Reporter- Phoenix Business Journal

Based on demand from potential parents and students, Grand Canyon University is beefing up its efforts to build its East Valley campus, with plans to build the new campus out to 10,000 students and spend $35 million to build a 1,000-room dormitory.

Originally, GCU planned to start with 1,500 students at its new East Valley campusnear Warner and Ellsworth roads in Mesa.

But now, Brian Mueller, GCU’s president and CEO, said there is enough demand to start bigger.

“We’ve got the cash available to do that,” he told analysts in an earnings conference call today. “Making that investment is one of the best uses of capital that we could possibly put to use.”

Plus, he said, dorms are profitable.

“We’re doing very well in the West Valley,” he said. “There isn’t any reason for us to believe the East Valley won’t go equally as well and possibly better because of the college-going characterization of that population.”

GCU continues to grow its enrollment, as revenue and net income also continue to rise.

Enrollment is at 59,914, up from 52,253 this time last year.

Of those, 10,330 are on the Phoenix campus and 49,584 are online students.

Plans call for increasing the number of full-time faculty to 70 percent and reducing the number of part-time adjunct faculty to 30 percent.

Currently, GCU has 55 percent full-time faculty and 30 percent full-time faculty online, with a total of 300 full-time faculty teaching on the Phoenix campus and online.

The company’s stock closed at $43.35 today, closer to its 52-week high of $44.62 than its low of $20.59.

Angela Gonzales covers health, biotech and education.


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