California State University, Bakersfield

Bakersfield,

Student Housing Feasibility Study

In 2005 California State University, Bakersfield was considering replacing its residence halls with new housing to meet the needs of its growing and diverse student population. The university asked B&D to conduct a student housing feasibility study to determine the demand and find out which unit types were most desirable to the students. Through focus groups and an Internet survey, specific data were gathered regarding desired unit sizes and configurations. Our preliminary financial model showed that standard financing would not be sufficient to support this new housing because of soaring construction costs, the high demand for single units, and the strength of the off-campus housing market. As a result, we proposed three alternate scenarios: financially feasible (but not matching student demand), matching demand using high-end results, and matching demand using market-equivalent rates.