The City and School Board sought to build new school facilities on the Campus to meet enrollment growth and provide an outstanding learning environment. Included was the use of up to ten (10) acres of the 34 acre Campus property for commercial development. The City considered this a transformational development opportunity, as well as a means to mitigate costs associated with building a new high school.
Our team analyzed potential acquisition and development costs for three housing options, including construction on college-owned land. In parallel, the team conducted site analysis, identifying the most suitable sites for development and defining development programs for two projects: (1) an on-campus student housing project and (2) a potential residential commercial development on a second site, with a focus on maximizing revenue generation.
The team conducted financial feasibility assessments for the student housing project using public sector comparator metrics to evaluate cost-effectiveness of a P3 solution and a discounted cash flow analysis to test the attractiveness of commercial project to private developers and investors. Additionally, our team assessed the impact on the College’s Profit and Loss statement and identified risks associated with different delivery methods including self-delivery and a P3 delivery.
Hayat Brown launched an initial market sounding, leading discussions with developers to gauge market interest and refine assumptions. Additionally, the team prepared detailed reports and presentations for college leadership to aid in decision-making and project approval.
