Feasibility Study Assignment
Affordable Housing
For college students
The Big Idea
Our company plans to provide affordable housing to college students attending a state or private university in Rhode Island. Rhode Island has 23 colleges with millions of students attending each. Not every student has the same background and privileges as others. Providing qualifying students with affordable housing will allow more incoming college students to stay in school and in a safe home. There is no good reason why a student getting an education should have to worry about where they are going to sleep at night.
Ezenwayi Amaechi (EA) - Millions of students? How many students attend JWU?
Ezenwayi Amaechi (EA) - What does it mean to provide "affordabel housing" Please expain. Also, your font size is very small.
$8,000-$10,000
the average cost of on campus housing (Robert)
14%
of students in a 4-year college program are homeless
of students in a 4-year college program are homeless (Jones)
In Rhode Island , despite the number of 4-year universities, has no current affordable housing dedicated to students
- The problem starts with the university.
- on-campus housing is so expensive it drives up the cost of total tuition, which is why many students are forced to find other housing.
- colleges do not consider the actual cost of off campus living
- students who are forced to pay for off campus apartments are cutting out supplies like books for school
- rent, which varies depending on where a student lives, is considered more essential than books
- federal housing assistance for students
- eligibility
- parents income , full time/part time student, how many students are in the household, grades
Why Students Need Affordable Housing?
Ezenwayi Amaechi (EA) - What is the definition of "affordable housing?"
Ezenwayi Amaechi (EA) - Is this your proposal or is this currently available?
Ezenwayi Amaechi (EA) - This slide is a bit confusing, please review!
One reason students are struggling is because the cost of room and board are on a steep increase.
(“Barriers to Success: Housing Insecurity for U.S. College Students.”)
Ezenwayi Amaechi (EA) - Do you have any updated data here?
- Market saturation?
- Affordable housing is a huge industry but not for students specifically
- More programs need to be started to combat student homelessness and help fix the cost of off campus housing
- The market for student housing will never go away as long as there are people going to college
- The price of on-campus housing is rising so that mean the more students will be needing some type of assistances with their housing cost
- In other words the market is growing for off campus affordable housing
Market Research
Ezenwayi Amaechi (EA) - Research needed here is about your business idea!
Ezenwayi Amaechi (EA) - Where is the reseach to show that it is a huge industry?
Ezenwayi Amaechi (EA) - What type of assistance? Was that what you were trying to share in the previous slide? Please be clear with your business idea!
HOME Investment Partnership Program
Federal Financing for New Student Housing
01
02
Tacoma Housing Authority
03
Single Stop USA
04
Program that helps students will college needs and help connect students with programs like affordable housing
Provides full time students, that reach the qualifications, and are at risk of homelessness or are homeless with a housing voucher for up to three years
Students that qualify for section 8 assistance can live in rental units but priority is for families, not students
1950, College Housing Loan, helps students pay for apartments when there are campus housing shortages
Potential Competitors
(“Barriers to Success: Housing Insecurity for U.S. College Students.”)
Revenue Model
How will the business make money?
Revenue Streams:
- Grants from the Federal and State government
- Other types of assistant from the government
- Rent from students
- Work with colleges? to help assist their students with living costs
Ezenwayi Amaechi (EA) - Such as?
Ezenwayi Amaechi (EA) - Why the "?" Also, how do you plan to work with colleges?
- Grants from government
- Contact with the schools to connect with college students who might need housing
- A PR manager: will help get renter and inform college students of the new affordable housing units
- A building for the actual housing
- A building manager, maintenance personnel
Start Up Requirements
Ezenwayi Amaechi (EA) - Please tell me more about how the first two serves as startup requirements.
Kayla Dowling -
Juan David Solis -
Josh Roberts-
Keith Thompson -
TEAM and Jobs
Decision/Conclusion
In conclusion our company is that students can be in a better economic situation since rents in Rhode Island are very expensive and with our student prices they can better accommodate and have a better student life.
Ezenwayi Amaechi (EA) - Is your decision to move forward with the business idea? If so, why? Again, remember to base your decision on research
“
“Barriers to Success: Housing Insecurity for U.S. College Students.” U.S. Department of Housing and Urban
Development. Office of Policy Development and Research , Feb. 2015,
www.huduser.gov/portal/periodicals/insight/insight_2.pdf.
Jones, Charisse. “Homeless in College: Students Sleep in Cars, on Couches When They Have
Nowhere Else to Go.” USA Today, Gannett Satellite Information Network, 30 Dec. 2019,
www.usatoday.com/story/money/2019/06/10/homelessness-among-college-students-gr
wing-crisi/3747117002/.
Robert, Cathrine. “How Much Does College Really Cost?” My College Guide, 29 May 2020,
mycollegeguide.org/articles/paying-for-college/how-much-does-college-really-cost.
Works Cited
Ezenwayi Amaechi (EA) - Great job adding a works cited page!