(09-11-2017 10:48 AM)MercerCo_BearCat Wrote:  The only downside is the housing looks like it'll be fairly expensive. I was hoping the University would purchase the property and convert it to Student Housing. It's the biggest bottleneck the university has and is consistently sending students off campus. The property could easily house a few thousand students.

I know, the amenities for this project are amazing. Rent will not be cheap. The location is premier.

UC seems to have the middle class customer nailed down. According to a NYT survey, UC ranks fairly low when it comes to attracting students from uber-wealthy families. It wouldn't hurt to catch up with Miami and IU a little bit in that regard. I think upscale housing isn't necessarily a bad thing.

Also keep in mind that even the low-end stuff isn't cheap.

(09-11-2017 09:56 AM)doss2 Wrote:  This is all due to FCC I suppose.

Lol.

(09-11-2017 02:04 PM)SuperFlyBCat Wrote:  

(09-11-2017 10:48 AM)MercerCo_BearCat Wrote:  The only downside is the housing looks like it'll be fairly expensive. I was hoping the University would purchase the property and convert it to Student Housing. It's the biggest bottleneck the university has and is consistently sending students off campus. The property could easily house a few thousand students.

Most universities are getting away from that. Even on real estate that they own, they do a long term ground lease to a developer who builds the apartments.

Correct. UC was actually the national leader in this movement. I'd go as far as to say that Steger (or someone on his team) was responsible for developing what has become the national model for an urban public university campus.

Houston and Georgia State have been following Steger's model to a T (although GA State is on a much bigger scale because they started with a much smaller physical plant). Just this fall, San Diego State opened their first dorm financed this way (of course it's California so no one should be surprised that they're more than a decade behind the rest of the country)