College of Staten Island
Faculty and Staff Housing Market Analysis
In June 2003, the College of Staten Island engaged Brailsford & Dunlavey to perform a market study and demand assessment for a recently approved on-campus student, faculty, and staff housing complex. This development, to begin with a first phase of approximately 1,000 new beds, would represent the college's first on-campus housing.
B&D completed a thorough demographic analysis of on- and off-campus populations and performed a detailed study of the off-campus housing market, focusing on areas throughout the New York metropolitan area found to be popular among CSI students for finding housing.
B&D also completed
demand projections based on
the results of on-campus interviews and
Web-based surveys. First, CSI
students and staff were interviewed to obtain
qualitative data related
to on-campus housing preferences and demand.
Next, detailed data
concerning existing market rental rates and
amenities were incorporated
into statistical surveys sent to all students,
faculty, and staff.
Rigorous analysis and demand-based program modeling of the survey results yielded statistically reliable data concerning potential campus population preferences. From this data, a comprehensive space program was created, including unit type, amenities, and size requirements; the required mix of units; as well as appropriate rental rates for each unit. B&D's final recommendations included a comprehensive financial analysis comprised of a project budget and operating pro forma.
B&D's findings included evidence that the College of Staten Island had demand for student housing that could be addressed through the development of market-rate apartment units on campus. Although the private market provided a somewhat competitive alternative to student housing, B&D found evidence that the College could provide students, faculty, and staff with financially feasible housing options that were significantly more convenient to them and that were consistent with the school's overall goals of building a sense of community on campus.
In March 2006, B&D was again engaged by the College, this time to provide services related to the selection of a student housing developer to implement B&D's recommendations. B&D developed an RFP and managed a successful selection process. In addition, upon selection, B&D assisted the college and the developer in project’s concept refinement and performed a market demand update to verify the acceptance of the project by the College's students.