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| Map from Novogradac & Company study |
A December 1, 2016 report by the U.S. Department of Housing and Urban Development Office of Policy Development and Research stated that “the student housing apartment market segment currently is tight, with a 2.6-percent vacancy rate, with units built since 2010 having a vacancy rate of less than 1 percent.”
Much more off-campus housing is now under development. Novogradac & Company presented a housing study to FAMU in 2016. The study said that 5,681 beds are in the pipeline for the off-campus student housing market within five miles of the FAMU campus. A total of 1,906 were in the FAMU Primary Market Area of less than half a mile to the campus.
Back in Fall 2009, when FAMU enrolled 12,261 students, it partnered with off-campus apartments to provide housing for 816 students. The off-campus housing locations included University Courtyard, Adams Pointe, and Down Under. Administrators also renegotiated the Venom Express busing contract with the city in order to provide routes that were convenient for the students to use.
FAMU is planning to seek private and federal financing to build more housing on its campus. The Novogradac & Company report said “With only freshmen currently required to live on-campus, and based partially on our recommendations for new housing beds on-campus, we have suggested a total bed capacity of approximately 2,700 beds per 10,000 FAMU students. This is also based on our case study research of other similar schools…”
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| Chart from Novogradac & Company study |