In response to a pressing student-housing shortage, officials at Cal Poly Humboldt are exploring a solution that could alleviate the accommodation crisis. The university is contemplating the creation of student rooms within a floating barge anchored in the scenic city of Eureka, located approximately 8 miles away from the main Arcata campus.
The proposal, although still in its preliminary stages, holds significant promise given the well-documented scarcity of student housing at the university. Packed dorms and the temporary placement of students in hotels have become all too familiar as a result. To tackle this issue head-on, the new floating housing project aims to commence operations as early as this fall, ensuring that students will have suitable accommodations for the upcoming school year. The floating barge will provide a temporary solution until additional housing can be constructed in Arcata and Eureka.
Check out: Fractional Real Estate Investing Has Expanded Into Student Housing
Grant Scott-Goforth, a spokesperson for Cal Poly Humboldt, emphasized the university's commitment to finding creative and practical approaches to address the mounting housing challenges faced by an expanding student population. He stated, "The university has been exploring numerous innovative solutions to augment the supply of high-quality and affordable housing options for our students. The concept of floating apartments or studios is just one of the possibilities we are currently considering. However, it is important to note that this idea is still in its early stages."
To accommodate a growing number of students, Cal Poly Humboldt has recently taken steps to expand its residential housing options. Starting in the fall of 2023, the university will lease the Super 8 Motel and Motel 6 properties in Arcata, adding space for an additional 250 students. These properties will be managed similarly to the successful Comfort Inn, which was leased last year and received positive feedback from students. With these new leases, the university will offer 350 beds in off-campus housing, the largest number of temporary accommodations ever provided by the institution.
Looking ahead, Cal Poly Humboldt recognizes the need to explore further housing alternatives, particularly in anticipation of an influx of first-year and transfer students in the coming years. This initiative aligns with broader challenges faced by college students throughout the state, prompting the university to take action to fulfill the basic needs of its students. As part of its Emergency Housing Program, Cal Poly Humboldt has been providing temporary on-campus housing to students who struggle to secure permanent accommodations or find themselves suddenly without housing.
The demand for on-campus housing continues to rise, prompting the university to pursue various temporary housing options. While floating apartments or studios represent one potential solution, it is crucial to emphasize that this concept remains highly preliminary at this stage.
In response to student feedback, the university will also make adjustments to the housing application process. Returning students will have the option to reside on campus in residence halls designated for upperclass students and transfers, a practice previously implemented by the university. This opportunity will complement the existing choices of living in off-campus properties managed by the university or privately owned rentals.
Cal Poly Humboldt's pursuit of innovative solutions to the student-housing shortage reflects a broader issue faced by universities nationwide. The scarcity of affordable housing for students has become a pressing concern, and educational institutions are grappling with the challenge of meeting the demand.
Recognizing this widespread problem, Collab, a platform that aims to democratize investment opportunities, has emerged to bridge the gap between institutional investors and the general public. By leveraging Collab, individuals have the opportunity to co-own income-generating student housing properties for as little as $500.
Recent data highlights the severity of the housing crisis among college students. According to a 2022 survey conducted by StudentBeans, one-fifth of students in the United States have experienced housing insecurity or found themselves without a permanent place to live during their studies.
A 2021 report by the Hope Center for College, Community and Justice revealed that 52% of students at two-year colleges and 43% of students at four-year colleges experienced housing insecurity in the 12 months preceding the survey. It is evident that the housing shortage disproportionately affects marginalized communities, including Black, Indigenous and LGBTQ+ students.
As the cost of tuition keeps going up and more students enroll in universities, it has become even harder to find housing that students can afford. Universities don't have enough money to build more on-campus housing to meet the growing demand. This means that students often struggle to find a place to live that they can afford while they study.
Read next: Bezos-Backed Startup Lets You Become A Landlord With $100
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.