CannonDesign, LLC engaged The Scion Group LLC (“Scion”) to conduct a Market and Demand Analysis with Financial Modeling as part of the Comprehensive Residence Life Master Plan provided to the University of Massachusetts Amherst (“UMass Amherst” or “University”).
In collaboration with CannonDesign, Scion used a variety of investigative and information-gathering tools to complete the study. This included the identification of Project goals and design drivers, facilitating several meetings with various University stakeholders, conducting a student focus group, analyzing the off-campus rental market, reviewing housing data provided by the University, and benchmarking housing programs at other top-tier research institutions. The qualitative and quantitative data collected from the scenario planning and visioning sessions conducted with CannonDesign informed the financial modeling that detailed the implications of the proposed programmatic changes.
In response to revisiting the recommendations outlined in CannonDesign’s 2017 Student Experience Master Plan (SEMP), the University requested a high-level demand analysis to determine a target undergraduate bed count. Scion calculated a target bed count and then focused on a unit mix and gap analysis to guide the University in achieving the objectives of maintaining and enhancing the high-quality residential experience, maintaining affordability, and continuing to support student maturation and development. Informed by the conclusions of the Market Study, Scion and CannonDesign tested several options to begin the initial phase of the renovation and new construction of the UMass Amherst housing portfolio. Through an iterative process, the University elected to first focus on one area. The option selected proposed renovation and dedensification of several traditional-unit residence halls, then the decommissioning of several other traditional unit residence halls, which would be replaced with cluster/suite-style residence halls, resulting in additional beds in the target area. Scion’s financial analysis confirmed that the ultimate course of action didn’t create cash flow issues for the University’s housing auxiliary.