Gettysburg College spent $27 million on a 55,000-square-foot recreational center with a bouldering area. Drexel University devoted $45 million to its own 84,000-square-foot recreation center, complete with a walking and jogging track. The University of Memphis paid $50 million for a 169,000-square-foot campus center that houses a theater, food court, and a 24-hour computer lab. Texas Tech University boasts “the largest leisure pool on a college campus in the United States, with a 645-foot-long lazy river as the centerpiece of the design.”

New student fees approved by undergraduates funded the debt for many of these amenities. These were students who, by the time the fees were implemented, had long since graduated, leaving the tab for their successors. Now, after a building boom that lasted more than a decade, the pace of spending on lavish campus frills is slowing. Some 6.6 million square feet of space for dorms and student services opened on campuses in 2015, according to the higher-education construction consulting firm Sightlines, the leanest year for new buildings dedicated to student spaces since the company started tracking construction in 2000. The high point for student amenities came in 2004, when more than 11 million square feet opened.

The reason behind this shift is a combination of growing concerns about rising tuition and student debt, declining numbers of high-school graduates, and the ever-fluctuating tastes of students and parents.

“We don’t see the amenities arms race anymore,” said Susan Fitzgerald, an associate managing director at Moody’s Investors Service, which examines the finances of more than 500 colleges that issue bonds through the public markets. “We’re seeing a move away from trophy buildings as universities prioritize their spending.”

After building one of the country’s most-expensive student-housing projects, a $168 million complex of apartment-style residences called University Commons, in 2007, Georgia State University officials worried about the impact of pricier housing on the ability of students to earn a degree. The university found that for every $5,000 in unmet financial need, a student was 12 percent less likely to graduate.

So Jerry Rackliffe, Georgia State’s vice president for finance and administration, asked the university’s facilities and housing leaders to develop a plan for a simple and tiny dorm-room option that would cost students less than housing in University Commons and include a dining plan (which wasn’t included with the on-campus apartments). “When I first brought this up, the housing folks said it wouldn’t work because every college is building apartment buildings,” Rackliffe said. “We agreed to do a few hundred beds as a test.”

The result was Patton Hall, which opened in 2009. Each room holds three students, with a single bed on one side and two on the other side connected in the middle by a Jack-and-Jill bathroom (private bathrooms save money in housekeeping costs when compared to communal bathrooms). Overall, everything is smaller in Patton Hall: 191 square feet per resident compared to 443 square feet in University Commons. Patton also has a dining hall on the first floor. The cost of Patton’s shared room and an unlimited meal plan is less than the room alone in University Commons.

From the day it opened, the new dorm has filled up faster than other campus housing. Patton Hall was so popular that in 2011 the university converted two local hotels using its basic dorm concept. The rooms “might be tiny, but they still include modern conveniences,” Rackliffe said, such as washers and dryers and lounges on each floor, Wi-Fi, and air conditioning.