Rider University has over 5,100 students enrolled in over 70 undergraduate and 28 graduate degree programs and is ranked by U.S. News & World Report in the top-tier of northern regional universities. Rider was experiencing declining enrollment and was particularly concerned about attrition rates for upper classmen. Based on feedback from campus questionnaires, the University determined that students found a lack of quality housing options on-campus for juniors and seniors and determined that the best approach would be to develop new student housing at the University’s entrance through a public private partnership. The University would contribute the land through a ground lease to a developer that would own, construct, finance and manage high quality upper-class housing and retail amenity space at a highly visible location.
RESGroup was retained to draft and market an RFP to attract developers interested in leasing, developing, and managing a new student housing project with ground floor retail that would serve the campus and community. The proposals were reviewed and ranked according the University’s selection criteria that were refined with RESGroup’s assistance. Finalists were selected, but negotiations were delayed due to changes in University objectives. As of July 2018, the University is now proposing the development at a different location and has retained RESGroup to assist in the selection of a development partner for this new property.
