H&D Fund Proforma Assumptions (Page 1 of 3) Housing Revenues Bed Rates are based on current rates increasing by 4% annually which is less than the historical 5% rate increases • New Hall room rates are the same level as projected for the most recently constructed residence hall (Barto) in FY2020, which is a 8.7% premium above the average rate of existing rooms o 352 - 388 multiple occupancy rooms at rate of $6,430 o 12 single rooms at rate of $8,273 • Room rates for renovated buildings are increased 10% after completion in addition to the general 5% room rate increase Occupancy • Occupancy assumptions are at 89% for all residence halls and 85% for all apartments • Existing facilities had average occupancy rates of 89% for the past 10 years Housing Expenses Operating costs per square feet are based on 2017 estimates and increase by 5% in 2018 and by 3% annually thereafter each year Current cost per square feet $12.37 for residence halls and $8.49 for apartments These costs are also applied to the new residence hall assuming a 116,000 sf building
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