State University of New York – Stony Brook

Stony Brook,

Housing Market Advisory Services

CLIENT CHALLENGE
In June 2008, Stony Brook University engaged Brailsford & Dunlavey to provide advisory services for a new graduate and professional student housing project. The university’s graduate and professional enrollment grew steadily over the next few years―seven percent since 2012―prompting the university to once again engage B&D in December 2016 to confirm potential demand and amenity and unit type preferences for additional on-campus housing for that population.

PROJECT HIGHLIGHTS
B&D developed a work plan for this project that reconciled current and future demand with existing supply and the proposed housing plans on the medical school campus. Elements of that work plan included a demographic analysis, student focus groups, an online student survey, and a housing demand model. Additionally, B&D conducted a competitive market analysis of four institutions to understand the university’s standing with respect to occupancy rates, facility conditions, amenities, pricing, and plans for future development.

B&D SOLUTION
Having consolidated its research and analyses, B&D presented the university with recommendations that included:

• Revising the proposed program to provide market-responsive unit types
• Revising the proposed design to create more efficiencies
• Enhancing the proposed program’s density by exploring the addition of mixed-use tenants which would provide additional revenue-generating opportunities
• Exploring alternative delivery methods, such as design-build or a public-private partnership opportunity to reduce the project schedule and costs

B&D also recommended several next steps the university should take, including generating a revised project budget more in line with market-responsive rental rates.