City University of New York

New York,

Faculty Housing Market Study

In 2008 the City University of New York wanted a study done that looked at the demand for a faculty housing program, the establishment of an appropriate mix of units and amenities in such a program, and a projection of the financial performance of that facility in the East Harlem neighborhood of New York City. B&D was contracted to conduct this study and our work included: an analysis of the private sector housing in the area; focus groups with, and surveys of, the faculty, and a financial analysis. We developed two types of demand analyses and tested a site for those demands. In addition, we projected rental rates based on the survey responses. In the end, we recommended that CUNY provide transitional housing for its faculty in a series of projects ranging in size from 50 to 60 units, 300 in all. The developments would be a mix of studio, one-bedroom, and two-bedroom units. We also advised on rental rates and suggested the university provide additional housing services, including apartment search advice, contact information on moving companies, and neighborhood descriptions, to make moving to New York City easier for incoming faculty.