Approve faculty housing: The University is wise to subsidize housing for faculty at Carrboro Commons

Because raising faculty pay would be an uphill battle during the University's fiscal crisis it is prudent for the University to consider other investments to attract and retain talented professors.

That's why UNC's plan to offer subsidized housing to faculty in an attractive neighborhood ought to be commended.

UNC recently submitted a proposal to the Carrboro Board of Aldermen to build Carolina Commons — a 63-acre tract that will offer 149 homes to faculty at a discount of 20 percent.

In addition 17 single-family lots sold at market price will help fund the discounts for UNC faculty.

Carolina Commons incentivizes professors not only to come teach at UNC but furthermore to make a long-term commitment to stay here.

This is a good idea in a milieu of bad news.

Compensation for University professors averaged $138500 in the 2007 to 2008 academic year putting them below the 50th percentile of salaries among peer institutions.

And in the current economic malaise the University will be hard-pressed to raise salaries across the board.

Instead Carolina Commons represents a worthy investment that will safeguard the University from faculty loss and perhaps even attract professors from other schools.

Moreover Carolina Commons will be a green community. Homes will boast solar panels and a creek will run through the neighborhood.

After the Morrison solar panels Carolina Commons would be another initiative showcasing the University's commitment to the environment.

The Carrboro Board of Aldermen should approve UNC's sound proposal. Carolina Commons is a smart investment to help secure the University's future.