The Vendor is required to provide a housing market analysis study to understand demand for student, faculty, and staff housing and affordable rents for both populations.
- Provide for a market analysis study service on the student and workforce housing market in city.
- evaluate the current rental housing market as part of an existing condition analysis:
1. Vacancy rates
2. Construction and absorption rates
3. Review the city housing needs assessment and the authority-funded college small scale housing concept plan
4. Current housing stock and future housing projects to avoid overbuilding and competing with private development.
• Determine the likely student recruit for city-college, given the school’s location, regional reach, and curriculum, and conduct a survey of these potential students and parents to validate the assumption that housing is the main factor suppressing student enrollment
• Conduct a cost-benefit analysis to determine if the potential increase in enrollment justifies the cost of the housing development
• Identify affordable rents, with consideration to area median income (AMI) ranges and affordability percentage factors.
1. Affordability for faculty/staff given college wages
2. Affordability for students compared to other colleges and universities' residential housing costs
• Evaluation of the impact of the sun setting of coal on the rental market and other trends on cost and unit availability.
• Suitability of off-campus and on-campus student housing options
• Identify student housing preferences:
1. Essential amenities (e.g., transportation, food service, child care)
2. Desired amenities (e.g., walking trails, fitness center, campus life)
• Determine the number of units that will meet the demand of students and staff/faculty and affordable housing costs for both populations
• Recommend strategies or best models to achieve desired outcomes.
- Questions/Inquires Deadline: April 29, 2025