One of the three University of Toronto campuses, the University of Toronto Scarborough (UTSC) is the only campus to offer co-op and internship opportunities to its 13,000 students. The campus currently has an inventory of 765 beds. UTSC’s Student Housing and Residence Life Department operates year-round, housing primarily first-year as well as upper-year undergraduate students and a small number of graduate students. The University provides a first-year residence guarantee for undergraduate students.
Through an RFP process, UTSC chose Scion to provide a detailed Student Housing Market and Demand Analysis for the proposed student residence to inform the financial model and, in particular, confirm appropriate rental rates. The analysis was also expected to provide input into room configuration/ratios, overall space requirements, and ideal units per floor based on Scion’s experience with current market trends and designs. Scion closely reviewed the contemplated space and program plans and estimated demand for the project by conducting focus group and whiteboard sessions, stakeholder interviews, and providing an assessment of off-campus market conditions.
Scion’s demand analysis affirmed UTSC’s decision to build a new student residence and further confirmed that the creation of a new, thoughtfully designed and operated residence is likely to result in an increase in demand for UTSC residences. Building on the contemplated program, Scion made precise recommendations on the dorm styles, floor plans for the RLC apartments, visiting scholar suites, shared space for learning and events, office for Residence Administration and Student Services, Residence Life Resource Center, social event space for the residence, and the size of the dining hall. As a major component of the study, Scion helped explain the “art and science” behind the rental rate setting for the residences based on Scion’s experience and market trends. This led to intensive research in rental rate comparisons between the proposed rental rates for the new residence and the rental rates offered by other post-secondary institutions.