Salt Lake Community College (the “College” or “SLCC”) engaged Scion to conduct a Student Housing Market and Demand Analysis and Financial Analysis for the Taylorsville Redwood Campus. SLCC did not offer student housing and was exploring the feasibility with a view to increasing accessibility, affordability, recruitment, and completion. Scion used a variety of investigative and information-gathering tools to complete the study. The methodology included identifying strategic objectives for the study, holding meetings with various College stakeholders, conducting student focus groups and intercept interviews, examining the off-campus rental market, reviewing data provided by the College, benchmarking housing programs at other Utah institutions, administering an online survey and conducting high-level financial analyses of possible housing programs for the proposed project. The observations and recommendations contained in the study were based on both qualitative and quantitative research and financial modeling and were further informed by Scion’s experience analyzing demand and conducting housing studies for similar campuses.
The public-private partnership (“P3”) financing/delivery method was selected as preferred given its balance of control over the student experience and college mission relative to the development and ongoing financial risk. Scion then conducted a procurement process for a public-private-partner development team as well as the pre-development negotiations working alongside college counsel and their certified financial advisor.
At this time, Scion is advising on the long-term Definitive Agreements and matters related to financial close as well as providing ongoing P3 project management.