University of California, Santa Cruz

Santa Cruz,

Faculty/staff Housing Market Analysis And Strategic Business Plan

B&D was engaged in 2006 to create a strategic business plan for faculty and staff housing at the University of California, Santa Cruz. The campus is located in one of the nation’s least affordable housing markets and is seriously challenged in its ability to recruit and retain the faculty and staff required to meet its mission and achieve its institutional goals and objectives. The campus already provided over 140 for-sale and 50 rental on-campus workforce units and offered a limited number of mortgage assistance programs. It was also preparing for the construction of 80 more for-sale units in an attempt to meet the pent-up demand for affordable housing. To fully address the need for long-term affordable housing options, the university’s leadership wanted a comprehensive, sustainable, data-driven approach to planning for, and implementing, its workforce housing program. To complete the plan, we were charged with: interviewing all stakeholders; conducting a strategic visioning session; completing an existing conditions and performance assessment; market and economic analyses; affordable housing stock and demographic analyses; a demand analysis; and a business plan to guide all decisions and activity on campus. We provided the university with a plan that outlined a number of updates to be made to the existing workforce housing program and recommendations for leveraging available home purchase affordability initiatives/incentives.