Wilmington College (“WC”) engaged Scion Advisory Services and Workshop Architects (“Consulting Team”) to formulate a Comprehensive Student Housing Plan to transform the WC student experience. Scion approached the engagement by extensive qualitative and quantitative research, workshops with WC leadership, and leading the College through a series of thought-exercises to establish the objectives to guide the study. Based on the research and subsequent analyses, Scion developed and refined – through collaborative working sessions with the College – several possible scenarios – ultimately referred to as Transformation Options – that would transform the residential student experience and address critical infrastructure needs.
Through a collaborative process with the College, members of the Board of Trustees, and the Consulting Team, several Transformation Options provided optimum bed counts and unit types to support student demand and a detailed phasing strategy for renovation of existing buildings and new construction. They were evaluated by the comprehensiveness of the transformation and impact on student experience, speed of delivery, and congruence with the strategic plan and its Quaker values. Critically important to institutional decision making, the scenarios provided preliminary financial impact analyses.
Utilizing Scion’s proprietary financial models, the Consulting Team tested the feasibility of development through a public-private partnership (P3), as directed by the College to minimize financial risk/burden yet maintain levels of control. The financial models included the entire housing portfolio to maintain the lowest rents possible, provide an equitable and just rental rate structure, and further increase potential developer/investor interest.
Scion provided recommendations that aligned with the College’s established objectives; (a) focus on first- and second-year students; (b) provide housing options across the developmental continuum; (c) include housing for graduate students; (d) limit the risks and financial commitment of the College; and (e) support the goals identified in the 2021- 2026 strategic plan, Wilmington RISE: Now, Near and Far.