University of Advancing Technology

Tempe, AZ

Campus Housing Feasibility Study

In response to the University of Advancing Technology’s desire to offer on-campus housing proximate to its academic facilities, Century Campus Housing proposed the development of a 260-bed complex located directly south of the main university building.  As a result, B&D was retained by Century Campus Housing in 2006 to assess the feasibility of the proposed on-campus housing development. In order to determine whether there was sufficient demand to recommend moving forward, we conducted analyses of university demographics, off-campus housing developments, and potential student housing demand. Based on these analyses and on institutional directives, we supported the construction of the project.  The proposed freshman live-on requirement, combined with the capture rate of upperclassmen, would generate demand for a number of beds that significantly exceeded the proposed project size.  The composition of the target market’s demographics also bolstered demand and price accessibility.  Furthermore, the occupancy of the proposed complex—97%, as shown in the developer’s pro forma—would be secure under the additional assumption that students required or willing to live in university housing would first be placed in the new development. The 260-bed Founders Hall was completed in 2007 and quickly achieved full occupancy.