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  1. #126

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Hasnít it already been pointed out in this thread that low numbers are typical for the first year of new dorms? I canít speak to the long term impact, but others have mentioned to take the first year numbers with a grain of salt.

  2. #127

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I mentioned this in another thread and was told they'd fill up to full occupancy soon. Maybe they will, who knows. But selling $80mil in bonds to fund high end expensive university housing thats a bit out of touch with the local rental market isnt good policy. These things are shiny and brand new, feature lululemon and blue 7 pop up shops and are only 28% leased? Yikes! And the other 2 new-ish and nice housing complexes such as Headington are only 70% full.

  3. #128

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    My gut feeling is that outside of freshman year when it is mandated, most students prefer to live off campus.

  4. #129
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    These kind of places have been successful at other schools. They should be at OU but everyone has to compete. These arenít like dorms of old (my days). They have great amenities.

  5. #130

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    There is a longer-term goal of keeping more students on campus, because all studies show they are more likely to be engaged with the university and graduate.

    Key areas that play into academic rankings are retention and graduation rates.

  6. #131

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by OKCretro View Post
    Probably not, but other schools are doing it.

    The prices of higher education are not in any way sustainable. There's going to be a major correction that happens at some point, but one school can't buck the trend.

  7. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    There's a practical reality OU has to face - Cadillac living/dorm facilities in a state wherein, for many families, just *going to college* is a major achievement - no matter how "relatively affordable" our state schools might be.

  8. #133

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    This is an article from October 2015 that appeared in the OU Daily. The article compared both the cost of living in a dorm and the expense of food to 4 off campus apartments. Apparently a meal program is mandated if in a dorm and a higher price for food is also a reason for more money required to live on campus.
    http://www.oudaily.com/news/ou-dorm-...dcca32532.html


  9. #134

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Hard to compare this to living off-campus, and no mention of a requirement to have a meal plan.
    Check out the amenities here: https://www.liveatcrossou.com/norman...oss/amenities/

    On-Campus Advantage
    Conveniently located on-campus, Cross is just steps away from classrooms, the Gaylord Memorial Stadium and the Lloyd Noble Center.

    On-site Staff
    Our experienced management and maintenance team members are on-site and readily available to address all resident needs. We understand all issues don’t surface during normal business hours, so we have on-call team members available 24/7.

    Individual Leases
    You are only responsible for your student’s rent. With individual lease agreements, you don’t have to worry about being tied financially to any roommates or covering their rent if they transfer, graduate or decide to move out for any reason.

    Roommate Matching
    No roommate? No problem! Roommate matching is completed through the OU Housing and Food office. When a student completes their Housing Contract, they will be prompted to set up a roommate profile. Students can even search for potential roommates in the system!

    Fully Furnished & Connected
    No moving truck needed! We offer a variety of fully furnished suite that include everything your student needs to move in and feel right at home. Our community also offers free high-speed internet access to help your student stay connected—academically and socially.

    Academic Success
    Each floor in every building at Cross is equipped with four study spaces! Cross also features a variety of other spaces throughout the property that students will find great for studying.

    Simplified Billing
    At Cross billing is simple! All charges and payments flow through the OU Bursar.

    Storm Shelters
    Weather in Oklahoma can present its challenges. Each building at Cross has an above ground, F-5 designed shelter. The shelters allow for full tenant occupancy during a severe weather event. Shelters are equipped with ample Wi-Fi bandwidth and cable TV for up-to-date weather information. Storm shelters also double as amenities such as a DIY workspace and theatre.

  10. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Jersey Boss View Post
    My gut feeling is that outside of freshman year when it is mandated, most students prefer to live off campus.
    If these dorms are like other university properties and donít allow students that are over 21 to possess alcohol in their dorm rooms (which Iím sure they are since the campus is dry), that and the other rules that come with living in university housing are major detractors for a lot of college students (as dumb as that sounds). Many students who are excited to experience life away from home and out on their own donít want to deal with the restrictions and rules of living in university housing after freshmen year when they are required to. While I liked the idea of building more, nicer housing around campus, I think it will take a lone time to catch on and may never be a major draw for the majority of upper classmen though they certainly might be beneficial for freshman eventually if they decide to knock down the towers or they exceed capacity.

  11. #136

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    ^^^^^ And while it is a minority of those affected, the no MMJ on campus is another restriction( even though the anti's claimed students could grow 12 lbs. a year in the dorm). Should it be approved for recreational use in the future that would be another restriction. Isn't tobacco use also banned on campus? While the list provided by Lazio was informative, my daughter lived at THE COTTAGES last year with many of those same amenities. I just do not know if this is a solution that is looking for a problem.

  12. #137

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I know students there that are barely affording living in a 1970s off campus house with two other people. Breaking news, young people have no money.

  13. #138

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Here is the unit pricing and plans...Prices are per SEMESTER:

    300 sq ft studio - $6,100
    575 sq ft 2 bed/1 bath - $5,900 per person
    875 sq ft 4 bed/2 bath - $3,500 per person (but look how tiny those bedrooms are)

    https://www.liveatcrossou.com/norman...b/4/lease_term[id]/5138/space_configuration_id/2/

    Looked at the virtual tour of the apartments. It looks like they do not have a full kitchen (just a small fridge and microwave). That's a lot of money to ask for when you then have to also eat out a ton...basically roping you in to sign up for a meal plan as well.

    When I was in school I lived in a house just off campus with a full kitchen with a few roommates. Had my own room and spent about $300 a month on rent. After bills for cable/power/etc., probably spent about $1,200-1,500 a semester.

  14. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Anonymous. View Post
    I know students there that are barely affording living in a 1970s off campus house with two other people. Breaking news, young people have no money.
    While that is certainly true, there are a lot of young people who's college is being paid for through scholarships and/or by their parents. When given the choice, many will choose to live off campus over on campus options and the restrictions are a large part of that. Like Jersey Boss said, why live on campus with all the restrictions the university puts on you when for the same price or less, you can live in a very nice off campus house or apt with all the same amenities. Proximity to class only gets you so far. Fraternities have a lot of the same amenities that the new on campus housing provides: meals (usually 3 per day), proximity to campus, common areas, study areas, sport areas, etc with similar or lower pricing but they've been struggling with upperclassman occupancy for years and it's gotten progressively since the dry campus policy went into effect. In a shocking twist, 18-23 year old young adults don't really like being told what to do.

  15. #140

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by benjico View Post
    Here is the unit pricing and plans...Prices are per SEMESTER:

    300 sq ft studio - $6,100
    575 sq ft 2 bed/1 bath - $5,900 per person
    875 sq ft 4 bed/2 bath - $3,500 per person (but look how tiny those bedrooms are)

    https://www.liveatcrossou.com/norman...b/4/lease_term[id]/5138/space_configuration_id/2/

    Looked at the virtual tour of the apartments. It looks like they do not have a full kitchen (just a small fridge and microwave). That's a lot of money to ask for when you then have to also eat out a ton...basically roping you in to sign up for a meal plan as well.

    When I was in school I lived in a house just off campus with a full kitchen with a few roommates. Had my own room and spent about $300 a month on rent. After bills for cable/power/etc., probably spent about $1,200-1,500 a semester.
    Wow, squeezing 2 bedrooms into 575sf, or the even crazier 4 bedrooms in 875sf? And not even have a full kitchen yet still pay a premium? No wonder they arent filling up. Location seems to be the only thing they can offer but its not worth a tiny room, high rent, and restrictive rules.

  16. #141
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    AVERAGE current cost per person for student room and board at state s school 4 year universities in the US is $10,800 school year. So, given these are new, they don’t seem that much out of the norm, do they? I have friends with kids paying this much or more at other universities.

  17. #142

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    AVERAGE current cost per person for student room and board at state s school 4 year universities in the US is $10,800 school year. So, given these are new, they don’t seem that much out of the norm, do they? I have friends with kids paying this much or more at other universities.
    OU only requires you to pay room and board for your freshman year. You have a lot of options your final three (or more) years and have an opportunity to save some money or live in as nice of a place as you can afford. I'm sure each student and family addresses it differently, but there is no requirement to pay room and board after your first year.

    I think the fact that they're only at 25% capacity shows that the amenities they offer are not worth the cost to most students. There are similar off campus options that are a few years old, but have full kitchens and have added "amenities" of allowing alcohol. You better believe that's a factor for college kids.

    If the Lululemon store is such a draw, you can live elsewhere and shop there on your way home from class. That's not an amenity of living there.

  18. #143

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by benjico View Post
    If the Lululemon store is such a draw,
    Gotta catch 'em all?

  19. #144

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Plus, in general, upper class men want to live off campus. It was such a dumb idea all the way around.

  20. #145

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by benjico View Post
    OU only requires you to pay room and board for your freshman year. You have a lot of options your final three (or more) years and have an opportunity to save some money or live in as nice of a place as you can afford. I'm sure each student and family addresses it differently, but there is no requirement to pay room and board after your first year.
    If OU needs to fill these up they will start requiring sophomores to live in on-campus housing. Those that are in the Greek houses can wait to live there junior/senior years.

  21. #146
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    This project follows the top trends of student housing all over the country. So, all the talk about walkabiliy, location, community, amenities, etc. doesn’t apparently work in Oklahoma.

  22. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by BG918 View Post
    If OU needs to fill these up they will start requiring sophomores to live in on-campus housing. Those that are in the Greek houses can wait to live there junior/senior years.
    Thats great in theory, but for a lot of reasons I think that would be virtually impossible and would be looked upon very unfavorably by the student population and incoming students/parents that don’t want to pay to live on campus for two years. Much easier said than done.

  23. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    This project follows the top trends of student housing all over the country. So, all the talk about walkabiliy, location, community, amenities, etc. doesn’t apparently work in Oklahoma.
    If you can, please provide some evidence to back that up. I’m not implying that you’re wrong, that’s just not what I’ve heard or seen from many non-urban campuses around the country.

  24. #149

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    This project follows the top trends of student housing all over the country. So, all the talk about walkabiliy, location, community, amenities, etc. doesn’t apparently work in Oklahoma.
    Rolls eyes. Walkable projects have been booming in Oklahoma for the last 20 years and one dorm that opened after registration is your evidence that "walkabiliy, location, community, amenities, etc. doesn’t apparently work in Oklahoma."

  25. #150

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by dankrutka View Post
    Rolls eyes. Walkable projects have been booming in Oklahoma for the last 20 years and one dorm that opened after registration is your evidence that "walkabiliy, location, community, amenities, etc. doesn’t apparently work in Oklahoma."
    Wait, what? All this complaining about the lack of residents, and it's been about one dorm that opened late compared to the school year that's about to start?

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