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Post by FULL_MONTY on Sept 10, 2024 12:21:07 GMT -8
www.sdsu.edu/evolvestudenthousingFrom a crew that struggled with the Paseo project, they now have a massive MV build out and now a massive Montezuma Mesa housing project. Maybe sucker city was rightg and SDSU is just a University masquerading as a Real Estate developer.
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Post by Den60 on Sept 10, 2024 12:37:39 GMT -8
Many universities make tons of money in real estate. I recall that the larger UC schools lost hundreds of millions of dollars due to covid in rent alone.
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Post by junior on Sept 10, 2024 15:33:04 GMT -8
Student housing is a real money maker. It's a no-brainer and akin to job security in that there will always be a steady, fairly predictable stream of students.
They are guaranteed to be paid for rent, utilities, and dining services through tuition/room & board. And there is a considerable amount of that money coming from grants-in-aid, which is a guaranteed income stream.
There is no good reason for universities not to be in the RE business - especially as it relates to owning the land and renting out the housing they own that's been built on it.
If for some reason the kids stop coming to college - the land and RE still has value that will keep increasing every year. Can't lose with that scenario.
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Post by pbnative on Sept 10, 2024 16:42:34 GMT -8
Student housing is a real money maker. It's a no-brainer and akin to job security in that there will always be a steady, fairly predictable stream of students. They are guaranteed to be paid for rent, utilities, and dining services through tuition/room & board. And there is a considerable amount of that money coming from grants-in-aid, which is a guaranteed income stream. There is no good reason for universities not to be in the RE business - especially as it relates to owning the land and renting out the housing they own that's been built on it. If for some reason the kids stop coming to college - the land and RE still has value that will keep increasing every year. Can't lose with that scenario. Yes, especially when SDSU creates it's own Monopoly by forcing students to live in student housing, and then price gouging those student If SDSU were offering low cost housing as a service to help students succeed that would be 1 thing, but that isn't what is happening. |
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Post by Den60 on Sept 10, 2024 16:46:15 GMT -8
Student housing is a real money maker. It's a no-brainer and akin to job security in that there will always be a steady, fairly predictable stream of students. They are guaranteed to be paid for rent, utilities, and dining services through tuition/room & board. And there is a considerable amount of that money coming from grants-in-aid, which is a guaranteed income stream. There is no good reason for universities not to be in the RE business - especially as it relates to owning the land and renting out the housing they own that's been built on it. If for some reason the kids stop coming to college - the land and RE still has value that will keep increasing every year. Can't lose with that scenario. Yes, especially when SDSU creates it's own Monopoly by forcing students to live in student housing, and then price gouging those student If SDSU were offering low cost housing as a service to help students succeed that would be 1 thing, but that isn't what is happening. I refer to universities as part of the "Educational Industry." It's a business. |
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Post by junior on Sept 10, 2024 16:49:45 GMT -8
Student housing is a real money maker. It's a no-brainer and akin to job security in that there will always be a steady, fairly predictable stream of students. They are guaranteed to be paid for rent, utilities, and dining services through tuition/room & board. And there is a considerable amount of that money coming from grants-in-aid, which is a guaranteed income stream. There is no good reason for universities not to be in the RE business - especially as it relates to owning the land and renting out the housing they own that's been built on it. If for some reason the kids stop coming to college - the land and RE still has value that will keep increasing every year. Can't lose with that scenario. Yes, especially when SDSU creates it's own Monopoly by forcing students to live in student housing, and then price gouging those student If SDSU were offering low cost housing as a service to help students succeed that would be 1 thing, but that isn't what is happening. Some of the rooms house as many as 4 students. And most of us would consider those rooms singles. They are packed into those dorms like sardines. And yes, they're forced to live on campus as first year students - unless they are local. And then those kids get the shaft with on campus parking prices. |
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Post by pbnative on Sept 10, 2024 16:56:09 GMT -8
Yes, especially when SDSU creates it's own Monopoly by forcing students to live in student housing, and then price gouging those student If SDSU were offering low cost housing as a service to help students succeed that would be 1 thing, but that isn't what is happening. I refer to universities as part of the "Educational Industry." It's a business. Worse, it's more like the modern version of getting paid in Company script. Take out Gov loans to give to Gov institutions that price gouge so you can work you butt off for 4 years. The next 20 years you work harder so 1/2 your pay check goes back to the Gov to pay off the money with interest that was used to pay the Gov institution to begin with, all while the Gov collects extra taxes on the hire income you make because you got a degree. |
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Post by fowl on Sept 10, 2024 18:21:54 GMT -8
If I'm a president of a university I'd be pretty hesitant to sink a bunch of money into new housing at this juncture. At SDSU and several other schools it is needed as they've got 3+ kids in what used to be a 2 person dorm room from the 60's.
But the kids applying to colleges this fall will largely have been born in 2007 when births in the US peaked at 4.3 million. Subsequently, births have declined almost every year to 3.6 million the past three years. That's almost a 20% decline plus the proportion of HS grads going to college has rolled over in the past few years, too. There's going to be small, expensive, less sought after private colleges who go tits up over the next couple of decades.
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Post by junior on Sept 10, 2024 20:19:11 GMT -8
If I'm a president of a university I'd be pretty hesitant to sink a bunch of money into new housing at this juncture. At SDSU and several other schools it is needed as they've got 3+ kids in what used to be a 2 person dorm room from the 60's. But the kids applying to colleges this fall will largely have been born in 2007 when births in the US peaked at 4.3 million. Subsequently, births have declined almost every year to 3.6 million the past three years. That's almost a 20% decline plus the proportion of HS grads going to college has rolled over in the past few years, too. There's going to be small, expensive, less sought after private colleges who go tits up over the next couple of decades. UCSD is planning a $2 BILLION housing village. 6,000 beds. It's the largest and most expensive housing plan to come before the UC Regents in the past two decades. It was approved, and will move onto the next stage of development. This $2B expansion is in addition to the six buildings (9,500 beds) they are currently building. They are doubling down. www.sandiegouniontribune.com/2024/07/18/uc-san-diego-gets-ok-to-build-historic-6000-bed-housing-village/ |
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Post by longtimebooster on Sept 11, 2024 5:50:07 GMT -8
If I'm a president of a university I'd be pretty hesitant to sink a bunch of money into new housing at this juncture. At SDSU and several other schools it is needed as they've got 3+ kids in what used to be a 2 person dorm room from the 60's. But the kids applying to colleges this fall will largely have been born in 2007 when births in the US peaked at 4.3 million. Subsequently, births have declined almost every year to 3.6 million the past three years. That's almost a 20% decline plus the proportion of HS grads going to college has rolled over in the past few years, too. There's going to be small, expensive, less sought after private colleges who go tits up over the next couple of decades. UCSD is planning a $2 BILLION housing village. 6,000 beds. It's the largest and most expensive housing plan to come before the UC Regents in the past two decades. It was approved, and will move onto the next stage of development. This $2B expansion is in addition to the six buildings (9,500 beds) they are currently building. They are doubling down. www.sandiegouniontribune.com/2024/07/18/uc-san-diego-gets-ok-to-build-historic-6000-bed-housing-village/UCSD has no choice and should've built adequate housing long ago. Affordable housing in nearby La Jolla Village or UTC? Ha. Rent for a one-bedroom apartment goes for $5k/mo. and anything more goes for $6k to $10k/mo. Bonkers. |
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Post by sdsuball on Sept 11, 2024 12:25:17 GMT -8
If I'm a president of a university I'd be pretty hesitant to sink a bunch of money into new housing at this juncture. At SDSU and several other schools it is needed as they've got 3+ kids in what used to be a 2 person dorm room from the 60's. But the kids applying to colleges this fall will largely have been born in 2007 when births in the US peaked at 4.3 million. Subsequently, births have declined almost every year to 3.6 million the past three years. That's almost a 20% decline plus the proportion of HS grads going to college has rolled over in the past few years, too. There's going to be small, expensive, less sought after private colleges who go tits up over the next couple of decades. UCSD is planning a $2 BILLION housing village. 6,000 beds. It's the largest and most expensive housing plan to come before the UC Regents in the past two decades. It was approved, and will move onto the next stage of development. This $2B expansion is in addition to the six buildings (9,500 beds) they are currently building. They are doubling down. www.sandiegouniontribune.com/2024/07/18/uc-san-diego-gets-ok-to-build-historic-6000-bed-housing-village/Well yes, UCSD and SDSU are expanding. Most universities across the country are not in our situation. Both SDSU and UCSD have an enviable situation - great weather, great academics, great university culture (different but both special in their own right). |
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