3 ms·
Honestly, putting aside complaints about windowless dorm rooms, my biggest complaint is that this development is not particularly cheap. By sticking so many stu
by helen___keller 5y ago
Honestly, putting aside complaints about windowless dorm rooms, my biggest complaint is that this development is not particularly cheap. By sticking so many students in one building, they had to include a ton of amenities; by including all those amenities, the cost ballooned to $1.5B, or $300k per housed student. After the $200MM grant, it's something like 260k
A mortgage calculator suggests that, unsubsidized, the price is $1146 / mo for each student. Given that it won't be full occupancy, particularly during the summer, plus add in an "HOA fee" for the building services (gym, etc) and I could see this rising to $2000 / mo per student, maybe.
Is this reasonable? Can we do better? I'm not sure. I'll bet it's appetizing compared to current prices that students pay in Santa Barbara, but I wonder if it's really the best they could do.