Institutional Project Management-Amicus

Flagstaff,

Student Housing Market Study

In 2010, B&D was selected by Institutional Project Management-Amicus to perform a market study related to the contemplated Holy Trinity Newman Center student housing facility near Northern Arizona University. Our scope of work included student focus groups, an off-campus (private-sector) housing market analysis, and a student survey. Based on the survey analysis, we constructed a housing demand model, which quantified the demand for the proposed units at specific rental rates in the context of the university’s enrollment figures. The proposed project would be located near Northern Arizona’s campus on a site currently occupied by the existing Newman Center facility. The initial concept included 400-500 beds in unit types ranging from suites with double-occupancy bedrooms to apartments with single-occupancy bedrooms. Based on current market conditions, we recommended that the proposed Newman Center project should include 500 beds, consisting of four-bedroom / two-bathroom (private bedroom) apartments; two-bedroom / two-bathroom (private bedroom) apartments; and studio (private) apartments.