Howard University / Campus Apartments

Washington,

Student Housing Demand Analysis

B&D was selected by Campus Apartments in 2012 to conduct a student housing demand analysis for Howard University. Campus Apartments had been working with the university to develop two new on-campus residence halls geared toward freshmen and sophomores, as part of the University’s Phase 1 Central Campus Master Plan. Our approach included an analysis of competitive on- and off-campus housing, a detailed peer benchmarking comparison, and an evaluation of previously gathered student demand data on desired unit types. Based on this information and on its industry experience, we also developed a demand-based model to provide specific recommendations on bed types and quantities. As a result, we proposed rental rates for the new housing that were in line with the competition and within students’ budgets. The analysis of bed supply and demand, paired with the university’s occupancy coverage ratio, identified a need for more than 1,300 beds additional beds, which would address both the university’s strategic imperatives and supply/demand issues. Specifically, our proposed development plan consisted of two facilities designed for freshman and sophomore students with amenities including a central laundry, social lounges, living-learning components, rec rooms, a community kitchen, faculty-in-residence, and indoor bike storage. Comprising 1,360 beds, this $107 million residential neighborhood is scheduled to open in 2014.