In the June issue of TocciToday we discussed an industry trend we are seeing…

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As endowments fall and operating costs rise, universities struggle to accommodate more incoming students and meet the demands for greater variety in housing options. As it is, colleges and universities have the ability to house just 25% of the US student population in university-supplied housing. On top of that, student enrollments have a history of actually rising during recessions, as mid-career professionals lose jobs and/or go back to school in order to cultivate new skills and qualifications.

By approaching private developers to invest in student housing projects, universities can expand and diversify the options for incoming students. Mindful of industry trends, commercial developers (especially in urban areas) may also have the expertise to educate the administration about new technologies and approaches, strategize financing, or offer unique advice the schools may otherwise not receive.

In today’s recession, projects that can be bonded based on projected revenues such as dormitories or cafeterias are more likely to be pursued than administrative or classroom buildings that may not be profitable in the long run. Commercial developers with experience in creating mixed-use projects have a tremendous opportunity to partner with institutions and build innovative, economical housing projects. Tocci is working on several such opportunities and our planning staff is ready to help meet this growing need.

Location: Providence, RI
Size: 96 units

Many colleges and universities are trying to meet the rising demand for student residences and work with tight budgets in smart ways that do not compromise the precious space in their classrooms and lecture halls. Enter projects like Tocci’s Capitol Cove.

Designed initially by Elkus Manfredi, continued by HDS Architects and originally conceived as private for-sale housing, Capital Cove is a project in Providence, RI that has been leased by Johnson & Wales University for a much needed off-campus student residency.

The project is perfectly situated for student life, located in the historic capitol district with multiple cultural attractions, shopping destinations, and public transport within walking distance. For a college student that wants to feel independent and in-the-thick of their community, Capitol Cove is an ideal setting. With a significant retail component, the project will enable Johnson & Wales to have a competitive advantage in attracting students. As campuses expand and infiltrate the towns and cities that surround them, institutions will adopt new forms of housing, which students will celebrate and developers will capitalize on. Everyone wins!

View more photos of Capitol Cove here.

When a team isn’t fully VDC-enabled, Q5 is there to provide the following services, while compelling buy-in and cooperation from the other team members. Services are customized based on project and team needs.

VDC Services

• Team Assembly
• RFP Development
• BIM Execution Planning
• Model Authoring
• Model Validation
• Spatial Coordination
• Quantity Extraction
• Cost Engineering
• Logistics or Schedule Integration
• Supplemental Construction Documents
• Onsite Model Deployment
• Construction Sequence Optimization
• Team Software Training and Process Education
• Laser Scanning and BIM Development

IPD Facilitation

• Team Selection
• Contract Facilitation
• Process Facilitation
• BIM Execution Planning
• Profit Pool Development
• Goal Development
• Incentive Management
• Lean Construction Consultation

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