Bucknell University

Lewisburg,

Campus Edge Market Analysis

In 2013 Bucknell University re-engaged B&D to update its 2007 analysis of the University Village, a 36-acre private residential and commercial district positioned on the University’s campus edge. Bucknell sought to understand the University Village’s composition and identify future development or partnership opportunities in the district, which would be defined, in part, by the district’s historic character as well as its location within a flood plain. We analyzed the market immediately surrounding the university within concentric drive-time radii in order to define the market’s size, demographic characteristics, and business activity. Furthermore, we surveyed each of the 181 parcels situated within the University Village, identifying parcel ownership, recent sales data, and square footage costs, creating a parcel database. Each parcel’s valuation was then assessed based on recent sales data and sales value per square foot, and rental rates for parcels not owner-occupied were determined. Additionally, we identified comparable campus edge development projects at colleges and universities nationwide and prepared case studies that included the building program, development costs, land acquisition strategies, sale, and lease options. Finally, we pinpointed parcels for potential acquisition, development, or re-development by the university, along with recommended development strategies. As a result of our analysis, the university gained valuable insight into the defining characteristics of the sizable district immediately adjacent to campus, thus guiding its decision making for future residential and commercial development opportunities for University Village.