napa valley collegefile/nvc presentation...home and not paying any rent. ... studio apartment...
TRANSCRIPT
NAPA VALLEY COLLEGE
Campus Housing ExplorationApril 11, 2019
THE SCION GROUP
+5 billion of new/renovated student housing facilities has
resulted from our advisory services
Worked with 200+ campus markets throughout North
America
Benchmarks from ownership and management of over
54,000 student housing beds
Proven collaborative processes
Well-respected and trusted in the market
Offices in Irvine, California; Chicago, Illinois; Dallas,
Texas; & Toronto, Canada
Campus housing – Only focus since 1999
2
ENGAGED PROCESS
3
Campus-driven analyses to quantitatively and
qualitatively assess demand for on-campus
housing
Listening & analytics includes:
- Data Review
- Campus Tour
- Stakeholder Meetings
- Student Survey
- Faculty/Staff Survey
- Focus Groups/Whiteboard Sessions
- Off-Campus Rental Market Analysis
- Demand Analysis
I’d love to live on campus, but it all comes down to cost.”
- NVC Student
“
COLLEGE PARTICIPATION
4
Students, Faculty and Staff
President Ronald Kraft
Asst. Superintendent, Vice President of
Academic Affairs, Erik Shearer
Asst. Superintendent, Vice President of
Administrative Services. Robert Parker
Asst. Superintendent, Vice President of
Student Affairs, Oscar DeHaro
Executive Director of Human Resources,
Charo Albarran
Executive Coordinator, Katherine Kittel
Director of Facilities Services, Matt Christensen
Athletic Director, Jerry Dunlap
Faculty Representatives, Forest, Kristie, Eileen,
Melinda
Academic Senate,
Amanda Badgett and Faye Smyle
HOUSING STUDY GOALS
5
Student Housing Demand?
Unit Preferences?
Faculty/Staff Housing Demand?
Unit Preferences?
Rent Tolerances?
College Readiness?
Risk and Return?
Off-Campus Rents?
YOUR CAMPUS
NAPA VALLEY COLLEGE
Institution type
Two-year public community college with three campuses.
Offers certificate & associates degrees.
Urban adjacent, but not urban.
Mission
Prepares students for evolving roles in a diverse, dynamic,
and interdependent world.
Committed to student achievement through high-quality programs
and services.
Student Population
1,824 Full Time &
3,600 Part Time Students.
Average age: All 25; FT 22.
“There is no typical
Napa Valley College
Student.”
7
Housing Costs
California is the 3rd most expensive state for cost of living.
No affordable choices in the nearby local rental market.
Housing insecurity.
Recruiting and Retention
80% of students believe campus housing is important in recruiting and
retaining students.
60% of faculty/staff believe workforce housing is important in attracting and retaining qualified faculty and staff .
Faculty, Staff, Community Engagement
More involvement in campus activities.
Faculty-student interactions increase.
Opportunities to strengthen relationships with the community.
WHY HOUSING, WHY NOW?
8
STRATEGIC OBJECTIVES
9
Provide an affordable, quality on-campus living
experience
Promote an even more engaged and diverse
population
Enhance campus engagement
Support recruitment and retention of students,
faculty and staff
Extend campus integration with the community
WHAT WE HEARD
FOCUS GROUPS
11
“I live in a 2 bedroom
apartment with
5 other guys.”
“I’m happy living at
home and
not paying any rent.”
“I’d love to live on
campus, but it all
comes down to
cost.”
“If housing were
available,
the student body
might be
more diverse.”
“I would like to work
in Napa but it’s really
difficult with my
current commute.”
WHITE BOARD SESSIONS
12
“I love my family, but it would be
great to move out of the house if I could afford it.”
“There is not a lot to do on campus.”
“My commute, especially the
traffic, is really frustrating.”
“It would be
strange to live
too close to my
professors.”
“The location and
type of apartment
is important, I like
my privacy, but it
really depends on
what I can
afford.”
STAKEHOLDER MEETINGS
13
“This first project must be ‘right’ or else we lose opportunities of future
support.”
“Some student athletes have left once
they realize how expensive housing is.”
“I have concerns about the logistics and hidden
costs of campus housing.”
“Faculty cannot engagestudents if they live over
an hour away and students cannot engage each other
and faculty if they also have a long commute.”
“We should be a social and cultural hub of the
community.”
STUDENT SURVEY HIGHLIGHTS
Survey sent to all students
679 survey responses
- 47% Part-time (1-11 units)
- 53% Full-time (12+ units)
53% of single students and 73% of
married/family students would consider campus
housing if it were offered
Out of 314 part-time students, 41% would take
12+ units with housing
14
FACULTY AND STAFF SURVEY HIGHLIGHTS
15
Survey sent to all faculty and staff
195 survey responses
41% would consider and another 41% might
consider campus housing if it were offered
60% believe offering housing is important in
attracting and retaining faculty and staff in the
future
T R A D I T I O N A L - S I N G L E T R A D I T I O N A L - D O U B L E
$900 per month $750 per month per person
16
Student Housing Floor Plans with Tested Rents
HOUSING PLAN
17
Student Housing Floor Plans with Tested Rents
HOUSING PLAN
S E M I S U I T E - S I N G L E S E M I - S U I T E D O U B L E
$1,050 per Month, per Person $900 per Month, per Person
S T U D I O 2 B E D R O O M1 B E D R O O M
$1,150 per Month $1,300 per Month $900 per Month, per Person
18
Student Housing Floor Plans with Tested Rents
HOUSING PLAN
S T U D I O 2 B E D R O O M
1 B E D R O O M 3 B E D R O O M
$1,200 per Month
$1,400 per Month
$1,900 per Month
$2,200 per Month
19
Faculty-Staff Housing Apartment Floor Plans with Tested Rents
HOUSING PLAN
STUDENT DEMAND FINDINGS
NVC Student Demand by Capture Rate
Capture Rate 2019
50% 311
60% 373
70% 435
NVC Unit Type Preferences
Unit Type Preference %
Traditional Double
$750/month20%
Single Occupancy Semi-Suite
$1,050/month5%
Double Occupancy Semi-Suite
$900/month8%
Studio Apartment
$1,150/month22%
One-Bedroom Apartment
$1,300/month12%
Two-Bedroom Apartment
$900/month33%
20
STUDENT DEMAND FINDINGS
Sufficient Demand
• Scion determined there is sufficient demand(greater than 300 beds) to potentially attract developer interest for student housing on or near the Napa Valley College campus
• Tested Unit Types Include:
• Traditional Room (Double Occupancy)
• Semi-suite (Single Occupancy)
• Semi-suite (Double Occupancy)
• Studio Apartment
• One-Bedroom Apartment (Single Occupancy)
• Two-Bedroom Apartment (Single Occupancy)
Factors included in Demand Methodology
• Enrollment trends and figures
• Student current place of residence
• Indicated interest in Napa Valley College affiliated
housing
• Cost tolerance of students
• Student age
• Capture rate
21
FACULTY AND STAFF DEMAND FINDINGS
NVC Faculty and Staff Demand
by Capture Rate
Capture Rate 2019
50% 46
60% 55
70% 64
NVC Unit Type Preferences
Unit Type Preference %
Studio Apartment
$1,200/month17%
One-Bedroom Apartment
$1,400/month35%
Two-Bedroom Apartment
$1,900/month35%
Three-Bedroom Apartment
$2,200/month12%
22
FACULTY AND STAFF DEMAND FINDINGS
Sufficient Demand
• Scion determined that there is potential to reach sufficient demand to potentially attract developer interest for faculty, and staff housing on or near the Napa Valley College campus
• Tested Unit Types Include:
• Studio Apartment
• One-Bedroom Apartment
• Two-Bedroom Apartment
• Three-Bedroom Apartment
Factors included in Demand Methodology
• Faculty and staff trends and figures
• Enrollment trends and figures
• Current place of residence
• Indicated interest in Napa Valley College affiliated
housing
• Cost tolerance
• Capture rate
23
LOCAL REPRESENTATIVE RENTAL RATES*
24
One Bedroom Average: $1,722
Two Bedroom Average: $2,142
Examples of Representative Apartments
- Saratoga Downs, Napa
- Canyon Ridge, American Canyon / Vallejo
- Waterscape, Fairfield / Suisun City
*Survey of 35+ apartment buildings in Napa, Sonoma, American Canyon, Vallejo, Fairfield, Suisun City
STUDENT HOUSING AT JUNIOR COLLEGES/COMMUNITY COLLEGES
As of 2017, approximately 28% of community colleges in the US offer
housing
11 California Community Colleges offer student housing,
the 12th broke ground last fall
25
STUDENT HOUSING ACADEMIC & LEARNING OUTCOMES
26
Students in campus housing demonstrate higher:
Graduation rates Levels of academic and
social engagementPersistence and
retention rates
Average GPAs
BENEFITS OF STUDENT HOUSING
27
Students in campus housing enjoy other benefits,
including:
- Improved peer interactions
- Increased diversity
- More mentorship
- More campus pride
- Convenience
- Lower costs than comparable market rate
housing options
- More community engagement and sense of
belonging
ADVANCEMENT
MARKET AND DEMAND AND FINANCIAL ANALYSIS
29
4.22 Financial Analysis Workshop (on-campus meeting)
4.29 Draft Market and Demand Analysis and Financial Analysis
5.3 Comments on the Draft Market and Demand Analysis and Financial Analysis
5.8 Open forums
5.9 Board working session
Jun
2019
Aug
2022
Jul
2019
Approval of selected developer: June 2019
Pre-development agreement negotiations: June - July 2019
Approval of pre-development agreement and execution: August 2019
Development Agreements negotiations and execution:
August 2019 - December 2020
Construction: January 2021 - June 2022
Move in: August 2022
Financial Close: January 2021
ADVANCEMENT
30
Dec
2020
Aug
2019Jan
2021
Jun
2022
Design and DSA Approval: August 2019 - December 2020
Groundbreaking: January 2021
THANK YOU