Missouri University of Science and Technology

Rolla,

Student Center Programming Study And Financial Analysis

In 2012 the Missouri University of Science and Technology selected B&D, as a part of a team with Mackey Mitchell Architects, to perform a programming study and financial analysis on the Havener Center. The purpose of the study was to come up with a solution to meet future student needs through a renovation and/or expansion of this student union building. The 105,000 square foot facility had experienced heavy usage since opening, and the university sought options to accommodate the changing desires of the campus as well as a rapidly growing student body. Our responsibilities included planning/steering committee meetings, focus group interviews, a student survey, development of a demand-based programming model, a peer institution analysis, a meeting room assessment, and a financial analysis. We ultimately recommended a 40,000 square feet addition along with a 45,000 square foot renovation. The reconfigured and expanded building would include an all-you-care-to-eat dining facility, an updated retail food court, increased student organization space, the relocation of recreation areas within the facility, and the addition of a flexible performance space. We also developed both capital and operating budgets. The capital budget identified a total project cost by assigning new construction costs per square foot and various levels of renovation costs per square foot. Total project costs were translated into an annual debt service payment which, along with projected expenses and revenues associated with the building, modeled the financial performance of the Havener Center within the operating pro forma. Additional recommendations were given as to the necessary levels of university support that would be required to make the project financially feasible.