George Mason University

Fairfax, VA

Faculty/Staff Housing Program Management

In 2005, after completing a feasibility analysis and development plan for new faculty/staff housing at George Mason University, B&D and Studley were engaged by Mason Housing, Inc. to implement the first of the development’s three phases. In this role we were responsible for: planning; design; capitalizing; constructing; establishing ongoing management; arranging sales and leasing services; and ultimately delivering reasonably priced housing. The 157-unit development was completed in 2010, one month ahead of schedule and with cost savings of $1.15 million.  It is arranged in 37 building strings comprised of multiple unit types and is adjacent to the George Mason University campus.  The project made use of the Public-Private Education and Infrastructure Act of 2002 to bring our private sector expertise to assist public projects.  The county issued $39 million in variable rate revenue bonds pursuant to a trust indenture with US Bank, which in turn loaned the proceeds from the sale of the bonds to the newly-formed 501(c)(3) sole purpose entity, Mason Housing, Inc. (MHI) to finance the project.  MHI has a 40-year ground lease with the university and offers rental units at 90% of market value.  The Masonvale community was completed in 2010.  The project’s awards have included:

2010 Great American Living Award 2010 Builder Magazine Builder's Choice Design and Planning Award 2011 National Association of Home Builders Pillars of the Industry Award 2011 Pacific Coast Builders Conference Gold Nugget Award 2011 Associated Builders and Contractors of Metropolitan Washington Award for Excellence in Construction 2012 National Association of Home Builders Pillars of the Industry Award 2013 Urban Land Institute Jack Kemp Workforce Housing Models of Excellence Award

Presentations 

To P3, or Not to P3, Understanding the QuestionPresented by Peter Isaac and Sam Jung at the 2012 Academic Impressions Conference.

Advancing the Mission and the Bottom Line: Faculty, Staff and Graduate Student HousingPresented by Chris Dunlavey, Tom Calhoun, and Bill Quinby at the 2011 NACUBO Annual Conference.

Enrollment Trends and Future Student Housing OpportunitiesPresented by Craig Levin and Chris Harness at the 2009 NMHC Student Housing Conference.

In the News 

Case Study: Masonvale at Virginia’s George Mason University

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