1. Introductions

1. Introductions

2. Process Overview

3. Key Findings

4. Next Steps

Student Housing Analysis

Project Team

2 Years of Experience

Background in Local

Government and Student Life

Facilities

4 Years of Experience

Today’s Objectives

• Project Initiation

• Stakeholder & Focus Group Interviews

• Off-Campus Market Analysis

• Internet Survey

• Demand Analysis

• Development of Concepts for New Housing

• Financial Model Development & Analysis

• Value for Money Analysis

• Project Memorandum

Completed Phase 1 & 2

Phase 3

Key Findings

• Demand exists for approximately 250-300 beds of new student housing among single students

• Majority of demand is among students enrolled part-time and 3+ years

• Bakersfield College students appear to be highly price sensitive, but may be willing to pay for a

convenient and high-quality campus living environment

• Students indicate it is difficult to find housing in the area

• Off-campus housing market provides inexpensive options, but lacks student-focused

properties that are desirable to student renters

Demographics

72% 68%

48%59% 64%

28% 32%

52%41% 36%

One year Two year Three years ormore

I am still a highschool student

Grand Total

Full Time Part Time

Survey Open: 6/18 – 7/3

Total Respondents: 1,075

(4% of Total Enrollment)

Margin of Error: +/- 3% (Target Margin of Error: +/- 5%)

MOE assumes all students were sent the survey

106 486 247 236 1,075Total

Count:

How many years have you been enrolled at Bakersfield?

Part-time students under-represented on survey

2018-2019: 82% of students were part-time

5%

16%

67%

12%

Part Time

Demographics

What is your marital status?

Married / Partnered no children

Married / Partnered with children

Single no children

Single with at least one child

4%9%

75%

12%

Full Time

Average Age by Class

HS Student 19

One Year 23

Two Years 24

Three + 27

Total 24

Female

Male

Non-binary/non-conforming

Prefer not to answer

70%

27%

2%

What is your gender identity?

Males under-represented on survey

2018-2019: 54% of student population was female

Current Living Factors

What were the most important factors you considered in choosing your current residence? (TOP 5)

Factor % Respondents

Total cost of rent and utilities 65%

Proximity to campus/classes 57%

Proximity to family 46%

Safety and security features 32%

Availability of a quiet place to study 32%


Total cost of rent and utilities 70%

Proximity to campus/classes 38%

Proximity to family 38%

Safety and security features 32%

Flexible lease/rental terms 30%

Single w/o child(ren)Married with or w/o children; single with children

Living near campus is not a high

priority for most of these students

Living near campus is important

for the majority

Living Situation

1%

5%

7%

2%

4%

95%

68%

60%

44%

63%

4%

7%

14%

6%

4%

23%

27%

40%

26%

I am still a highschool student

One year

Two year

Three years +

Grand Total

What best describes your current living situation?

I do not have a permanent residence I live with my parents or other relatives

I own I rent

85% of all renters who are single

w/o children live with at least one

other person

51% of married and/or students

with children are renters

Commute Times

4%

18%

28%

24%

6%8%

12%

5%

12%

24%

29%

11%

7%

12%

Less than 5 minutes 5 - 10 minutes 11 - 20 minutes 21 - 30 minutes 31 - 40 minutes 41 - 50 minutes More than 50minutes

Single Students Families

How long is your one-way commute to campus? (Renters Only)

Bakersfield students likely don’t live near campus

Only 3% of renters indicated “walk” as their primary mode of commuting

Current Housing Cost

Utilities Average % Respondents

Cell Phone $100 67%

Internet/Wi-Fi $60 61%

Electric $82 60%

Gas $60 46%

Water $44 27%

Cable/satellite TV $46 26%

Trash $10 10%

Parking $15 8%

Sewer $11 6%

Average Total Utilities Cost $428

20% of renters indicated they do not pay utilities

Average Monthly

Rent Per Person

$404

What is your personal share of monthly

rent not including utilities?

Renters – Single w/o Children; Non-HS Students

Tested Units Monthly Rental Rate Range:

$475 - $1,400 per person

Current Housing Cost

Utilities Average % Respondents

Electric $109 84%

Cell Phone $118 83%

Internet/Wi-Fi $58 70%

Gas $56 68%

Water $65 47%

Cable/satellite TV $89 41%

Trash $46 13%

Sewer $46 10%

Parking $40 9%

Average Total Utilities Cost $627

10% of renters indicated they do not pay utilities

Average Monthly

Rent Per Person

$656

What is your personal share of monthly

rent not including utilities?

Renters – Married with or w/o children and/or Single with children; Non-HS Students

Tested Units Monthly Rental Rate Range:

$1,600 - $2,600 per unit

Housing Challenges

8% 4% 7% 6%

16%

7%

14% 14%

50%

62%53% 54%

26% 27% 26% 26%

One Year Two Year Three Years+ Grand Total

Very easy Easy Difficult Very difficult

How easy or difficult has it been to find

housing in the Bakersfield area?

In the past year have you experienced

housing insecurity?

33%

24% 25%28%

55%60%

67%

60%

13%16%

8%12%

One Year Two Year Three Years+ Grand Total

Yes No Prefer not to answer

The difficulty in finding housing could speak to the tight market conditions and/or

the lack of resources available to students regarding off-campus housing

Future Living Preferences

If Bakersfield built new housing on campus, which five physical in-unit building features would be the most important to you? (TOP 5)


Private (single) bedroom 58%

Private bathroom 56%

In-unit full kitchen 48%

Washer and dryer in the living unit 44%

Parking next to proposed residence hall or

apartment35%


In-unit full kitchen 71%

Private bathroom 62%

Private (single) bedroom 60%

Washer and dryer in the living unit 57%

Parking next to proposed residence hall or

apartment35%

Single w/o child(ren)

While the majority prefer a private bedroom, interest exists for double occupancy units as

evidenced in the demand findings

Single or Married/Partnered w child(ren), Married/Partnered w/o child(ren)

Future Living Preferences

If Bakersfield built new housing on campus, which three personal preferences would be the most important to you? (TOP 5)


Cost 85%

Access to academic resources and

services 58%

Ability to have a pet 33%

Ability to bring my own furniture 33%

Proximity to public transportation 24%


Cost 87%

Access to academic resources and

services 42%

Proximity to child care or child care

resources41%

Ability to bring my own furniture 39%

Ability to have a pet 29%

Single w/o child(ren)Single or Married/Partnered w child(ren),

Married/Partnered w/o child(ren)

The majority of Bakersfield students are cost sensitive

Survey Units Tested: Single w/o child(ren)

Room Type Rental Rate

A. Studio Apt (Single) $1,400 /mo/person

B. Studio Apt (Double) $770 /mo/person

C. 2-Bed / 1-Bath Apt (Single) $1,100 /mo/person

D. 2-Bed / 1-Bath Apt

(Double)$600 /mo/person

E. 4-Bed / 2-Bath Apt (Single) $475 /mo/person

Rates were shown in 2018 – 2019 dollars and assume:

• Furnished units

• All inclusive utilities

A. B. C.

D. E.

Survey Units Tested: Single or Married/Partnered w child(ren), Married/Partnered w/o child(ren)

Room Type Rental Rate

A. Studio Apt $1,600 /mo

B. 2-Bed / 1-Bath Apt $2,400 /mo

C. 2-Bed / 1-Bath Apt $2,600 /mo

Rates were shown in 2018 – 2019 dollars and assume:

• Furnished units

• All inclusive utilities

A. B.

C.

Target Market Groups

TARGET MARKET A: Single Students without child(ren)

• Full-time & Part-time Student Renters

• Rent their current living unit

• Pay at least $400/month/person

• Age 24 & under

TARGET MARKET B: Single or Married/Partnered w/ child(ren), Married/Partnered w/o child(ren)

• Full-time & Part-time Student Renters

• Rent their current living unit

• Pay at least $650/month/person

• Age 24 & under

• Target markets reflect those

students most likely to live in

tested housing options if they

were provided

Occupancy Coverage Ratios

Occupancy Coverage Ratio (“OCR”)

Risk profile for each class level (i.e. occupancy risk the institution is willing to assume to accommodate demand for each target market)

TARGET MARKET A

• Full-time Student Renters

• 1.3 units of demand for every 1 unit supplied

• Part-time Student Renters


TARGET MARKET B

• Full-time and Part-time Students


Current Demand w/ OCR – Single w/o child(ren)

• Demand from only Target Market A

• 3+ year students represent 64% of

demand, while comprising 46% of

the enrollment

Class CohortFall 2018

Enrollment

Capture

Rate

Potential

Demand

1 Year 8,988 1% 63

2 Years 4,702 1% 48

3+ Years 11,839 2% 200

TOTAL 25,530 1% 311

Current Demand w/ OCR by Unit Type - Single w/o child(ren)

• Preference for unit type with lowest cost

• Upper-division students indicate willingness to pay more for privacy (2-Bed / 1-Bath Single)

Class Cohort

Studio

Apartment

(Single)

Studio

Apartment

(Double)

Two-bedroom

One bathroom

Apartment

(Single)

Two-bedroom

One-bathroom

Apartment

(Double)

Four-bedroom

Two-bathroom

Apartment

(Single)

Total

1 Year 0 26 5 5 26 63

2 Years 0 8 0 16 23 48

3+ Years 0 25 51 25 99 200

TOTAL DEMAND 0 59 56 46 149 311

Current Demand w/ OCR – Family Students

• Demand from only Target Market B

• Majority of demand from first-year

family students

Class CohortFall 2018

Enrollment

Capture

Rate

Potential

Demand

1 Year 615 2% 11

2 Years 322 0% 0

3+ Years 810 0% 3

TOTAL 1,746 1% 14

Current Demand w/ OCR by Unit Type – Family Students

• Preference for lowest cost unit type

Class CohortStudio

Apartment

Two-bedroom

One bathroom

Apartment

Three-bedroom

One-bathroom

Apartment

Total

1 Year 8 2 1 11

2 Years 0 0 0 0

3+ Years 0 3 0 3

TOTAL DEMAND 8 5 1 14

Profile of Inventory

Proposed Project Site

Off-Campus Apartments (1-mile radius from project site)

Bakersfield

College

• Total Number of Units / Beds: 1,032 / 1,714

• Average Age: 1971

• Most Recent New Construction: 2008 (8 units)

• Average Vacancy: 5.95%

• No purpose-built student housing

Studio 3%1BR

22%

2BR 61%

3BR 13%

4BR 1%

Unit Type Distribution

Source: CoStar

Rental Rate Comparison

Unit Type Per Person Per Unit

Studio $1,311 $1,311

1BR $804 $804

2BR $482 $965

3BR $336 $1,008

Average $641 $934

Notes:Only two properties (48 units) with studio units in sampleOnly five 4BR units in sample (rent not reported)Source: CoStar

Off-Campus Market Average Monthly Rental Rates

Single No children Families

Unit/Bed Type Per Person Per Unit

Studio Single $1,400 1,600

Studio Double $770 Not Tested

2BR / 1BA Single $1,100 $2,450

2BR / 1BA Double $600 Not Tested

3BR / 1BA Single NA $2,600

4BR / 2BA Single $475 Not Tested

4BR / 2BA single occupancy units account for

48% of Total Demand from single students

34% of demand from single students was in

double occupancy units; Students can rent a

single-occupancy 2BR or 3BR unit in the market

for a much lower per person rate compared to

the tested double occupancy units

Tested Monthly Rental Rates

Notable Property

College View Apartments• Number of Units: 112 (1BR)

• Current Vacancy: 4.5%

• Average Monthly Rent: $595/person

• 1BR not tested on survey

• Tested studio single rate: $1,400

• Proximity: 2 minute walk to campus; adjacent to proposed project site

Bakersfield College Proposed

Project Site

College View Apartments

Future housing would compete with College

View, which rents at a significant discount

relative to the tested units

Student Housing Development Analysis

• Project Refinement

• Program, Site, Campus Integration

• Test Financial Feasibility

• Project Delivery Method

• Self-develop vs. P3

• Value for Money Analysis

Documents

1. Introductions