Stevens Institute of Technology
Campus Master Plan
U3 Advisors was retained by the Stevens Institute of Technology in 2012 to assist the University in selecting a planning firm via a competitive process and then to serve as the University’s project manager for the Campus Master Plan.
U3A worked with Stevens and WRT to prepare a Master Plan that achieves the goals outlined in the University’s 2012 Strategic Plan—including the imperative to expand enrollment by 60% over the next ten years. The Master Plan identifies academic, student life, and residential space needs that are necessary to accommodate a rapidly growing student body. U3A played a key role in managing the programming of these facilities; performing financial analyses to determine land value and advise whether Stevens should consider monetizing any of its property; and assisting with zoning and land use strategy. Stevens’ Board of Trustees adopted the Master Plan in 2014.
Student Housing Plan
U3 Advisors prepared a student housing phasing plan for Stevens as part of the University’s 10-year Campus Master Plan. Stevens requires additional student housing to meet the demand generated by increased enrollment and address significant deferred maintenance. In addition, many of the University’s current dorms lack the amenities that the 21st-century undergraduate has come to expect. U3A developed a phasing plan to provide new housing with minimal displacement of existing beds, retain cash flow from existing buildings, pair demolition with opening of new construction, and allow Stevens to exit off-campus leased housing.
Developer Request for Proposals
Based on the Student Housing Plan, U3A managed a Request for Proposals process to select a national student housing developer to design, finance, construct, and manage the first phase of new housing--approximately 1,000 new beds—on campus over the next few years. U3A helped Stevens to negotiate a predevelopment agreement with its selected development partner.