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  • Students v. others in tight rental market

    This story is kinda interesting: About 250 people (some of them students) will be displaced when the 'Ohi'a Apts in Waikiki get converted into full fledged dorms in the fall. While this helps out students who are desperately seeking housing off campus, what's supposed to happen to the nonstudents who today are renting studios for upwards of $1,000/mo? The developer thinks he can cram 2 kids into a studio apt and charge each person about $700 with no problem at all, which means an increase in profit of $400/unit/mo. Using my trusty little calculator, that means if there are 250 units, then that's an additional $100k/mo and about $1.2 MILLION a year more than what Savio's group is bringing in now. Pretty sweet profit for doing virtually nothing but doubling up on occupancy.

    Miulang
    "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

  • #2
    Re: Students v. others in tight rental market

    Like what everything else right now, people think they can do more by doubling what's it capable of doing.

    I hope that dorms will have a shuttle service to and from school.

    And people need to think, that THIS IS AN ISLAND, meaning that we have LIMITED SPACE! Soon, we'll be building along side the H2, then in the mountains, and then what? We can only build so much places to live, along with roads to support the commutes, and the various walmarts and sams clubs and home depots that'll spring up. I won't be surprised if the island will sink because of the people in the near future.
    How'd I get so white and nerdy?

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    • #3
      Re: Students v. others in tight rental market

      Originally posted by Miulang
      The developer thinks he can cram 2 kids into a studio apt and charge each person about $700 with no problem at all, which means an increase in profit of $400/unit/mo.
      Less meals, that sounds like dorming.

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      • #4
        Re: Students v. others in tight rental market

        Yeah, and the kids have to buy their own food too because I'm sure there won't be a cafeteria in that "dorm". Does anyone know what the going rate is for a dorm room with a meal plan on the UH campus (are there even dorms on the UH campus?)

        Miulang
        "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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        • #5
          Re: Students v. others in tight rental market

          OK, I'm gonna answer my own question. Room and board at Gateway House on campus is about $713/mo for a double room with bath for 9 months. Living off campus and paying $700 for your share of a studio apt (assuming approximately the same sq. footage and assuming only one other roommate) for that same period means you also end up (or your parents end up) paying an additional $200/mo for the food and since it's off campus, probably a monthly bus pass at minimum.

          So for the privilege of living off campus, your parents get to spend an extra $300 or so per month for 9 months for you to go to school. No wonder dorm space on campus is such a hot commodity.

          Interesting little program UHM Housing has going...if you're a student and you find a new housing source, they'll pay you $100 for a referral. That's how tight housing is for college students right now.

          Miulang
          "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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          • #6
            Re: Students v. others in tight rental market

            Originally posted by Miulang
            That's how tight housing is for college students right now.
            As people who actually live in Hawaii know (and are constantly reminded)... housing is tight for EVERYONE. Not just college students. Has been for a while now.

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            • #7
              Re: Students v. others in tight rental market

              Originally posted by Miulang
              Living off campus and paying $700 for your share of a studio apt (assuming approximately the same sq. footage and assuming only one other roommate) for that same period means you also end up (or your parents end up) paying an additional $200/mo for the food and since it's off campus, probably a monthly bus pass at minimum.

              So for the privilege of living off campus, your parents get to spend an extra $300 or so per month for 9 months for you to go to school. No wonder dorm space on campus is such a hot commodity.
              This assumes that Gateway residents choose the cheapest meal plan at Sodexho. It also assumes that students living off campus are spending $50+/week on food. Neither of these assumptions are realistic. As for the bus pass assumption, University Avenue is home to one of the only true bike lanes in the city for a reason.

              We can’t be so fixated on our desire to preserve the rights of ordinary Americans.

              — U.S. President Bill Clinton
              USA TODAY, page 2A
              11 March 1993

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              • #8
                Re: Students v. others in tight rental market

                Originally posted by TuNnL
                This assumes that Gateway residents choose the cheapest meal plan at Sodexho. It also assumes that students living off campus are spending $50+/week on food. Neither of these assumptions are realistic. As for the bus pass assumption, University Avenue is home to one of the only true bike lanes in the city for a reason.
                So give us an "apples to apples" comparison of living expenses for a college student living on campus at Manoa v. living off campus with one other roommate. I'm still curious.

                Miulang
                "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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                • #9
                  Re: Students v. others in tight rental market

                  Originally posted by Miulang
                  So give us an "apples to apples" comparison of living expenses for a college student living on campus at Manoa v. living off campus with one other roommate. I'm still curious.
                  I knew students who ate nothing but pancakes (i.e. Bisquick, not IHOP) and soda crackers all day long. Drank water (can’t get any cheaper than free). This is the life of a student finally free from the chains of the Sodexho monopoly on campus.

                  Another interesting note: when you live on campus, you also have to pay an “RHC” or Residence Hall Council fee. They apparently have student government just for housing residents. If that’s not enough, you have to pay a “technology” fee for high-speed internet, regardless of whether you use it or not.

                  So there’s more factors in the life in the dorms vs. life off campus debate than meets the eye.

                  We can’t be so fixated on our desire to preserve the rights of ordinary Americans.

                  — U.S. President Bill Clinton
                  USA TODAY, page 2A
                  11 March 1993

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                  • #10
                    Re: Students v. others in tight rental market

                    It's important to remember that the housing market is tight at the low end ONLY. Regulations, EIS, zoning laws, public sentiment all combine to make the construction of low end, high density dwellings nearly impossible. The laws that have been created in the last 30 years to protect us from ourselves have essentially disenfranchised the lowest 20% of the economic spectrum by adding high dollar hard costs to any project.

                    So developers naturally gravitate toward the higher end construction in an effort to preserve profit margins.

                    It is cognitive dissonance for a homeless advocate to endorse the need for so many regulations(EIS, EA, Studies, etc) in the development industry. The added layer of cost to developers means higher cost of dwellings. But if the homeless were suddenly housed, then what would the advocate do? So maybe it's all part of a great big plan. hmmmm
                    FutureNewsNetwork.com
                    Energy answers are already here.

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                    • #11
                      Re: Students v. others in tight rental market

                      I frankly don't care how expensive housing is for the pampered little pusses. If they could handle working and surviving in the real world, they wouldn't have to waste several years in college learning how to be unemployable liberal artists, anyway. Better that they should pay extra to be indoctrinated into the extremist positions of their tenured (job for life! woo hoo!) professors. And if their parents "have to pay" for it, then ... well, that's their folly.
                      Last edited by MadAzza; April 26, 2006, 12:08 AM.

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                      • #12
                        Re: Students v. others in tight rental market

                        Dang, man. Here I threw out this perfectly good bait, and nobody bit!

                        Y'all are wising up to my hijinx.

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                        • #13
                          Re: Students v. others in tight rental market

                          nah the brain cannot function when you one starving liberal

                          With so much emphasis on UH/Manoa, maybe UH shoulda developed the outside island campuses. At UH/Hilo there's absolutely no student dorm issues here. I know of parents sending their kids to the dorms here while living in Hilo!

                          Why UH doesn't develop it's outer campuses is beyond me. The need to get away from the central campus mentality is so paramount. By drawing students to the neighbor islands it helps everybody including the local economies. UH Hilo is such a nice campus to visit with wide open spaces and now with the addition of Imiloa it's an even more intriguing place of learning.
                          Life is what you make of it...so please read the instructions carefully.

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                          • #14
                            Re: Students v. others in tight rental market

                            I'm surprised developers haven't started building on Diamond head lol..though if they could I know they would!
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                            • #15
                              Re: Students v. others in tight rental market

                              Originally posted by Dave
                              I'm surprised developers haven't started building on Diamond head lol..though if they could I know they would!
                              Then why are you surprised? You seem to already know there's no chance of anyone developing the crater.

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