Domus Development Group

Lawrence,

Student Housing Feasibility Study And Operating Pro Forma Development

In March 2012, Domus Development Group selected B&D to prepare a market / feasibility study related to the proposed development of an off-campus student housing property located between the University of Kansas City-Missouri and Rockhurst University in Kansas City, Missouri. Our market analysis included intercept interviews with students to understand the campus culture and housing preferences; a review of the universities’ demographic profiles and current and planned housing stocks; and an analysis of competitive properties in the market. We identified a lack of quality, student-focused housing properties with an appropriate unit mix in the immediate area, resulting in sufficient market demand to support a high-quality, student-focused housing development. We developed a student housing demand model to project demand for the project based on enrollment data and existing on- and off-campus market conditions. The demand analysis demonstrated sufficient demand to move forward with the 283-bed project Additionally, we performed a thorough review of the management contract between the developer and property manager as well as a preliminary review of the project’s construction budget and financial pro forma. We were re-hired in 2014 to develop an operating pro forma for the planned student housing development.