Harvard Case - 196 Acres and a Mission: What's Responsible Housing for the Hoos?
"196 Acres and a Mission: What's Responsible Housing for the Hoos?" Harvard business case study is written by Toni Irving, Gerry Yemen. It deals with the challenges in the field of Strategy. The case study is 23 page(s) long and it was first published on : Jan 10, 2024
At Fern Fort University, we recommend a multi-faceted approach to developing responsible housing for the Hoos, balancing the need for affordable housing with the university's commitment to sustainability and community engagement. This strategy will involve a phased approach incorporating strategic partnerships, innovative financing models, and community-driven design to ensure a successful and sustainable outcome.
2. Background
Fern Fort University (FFU) faces the challenge of providing affordable housing for its growing student population while navigating the constraints of limited land and a desire to maintain its rural character. The university owns 196 acres of land, a valuable resource, but its development must be carefully considered to avoid compromising the university's identity and its commitment to environmental sustainability.
The case study highlights the key stakeholders:
- FFU Administration: Focused on student housing needs, financial sustainability, and maintaining the university's image.
- Students: Seeking affordable, safe, and accessible housing options.
- Local Community: Concerned about potential environmental impacts and the influx of new residents.
- University Faculty: Advocating for sustainable development practices and community integration.
3. Analysis of the Case Study
Strategic Framework: This case study can be analyzed through the lens of Porter's Five Forces and SWOT analysis to understand the competitive landscape and FFU's internal capabilities.
Porter's Five Forces:
- Threat of New Entrants: Low, due to the limited availability of land and the need for significant investment.
- Bargaining Power of Buyers: High, as students have multiple housing options and are price-sensitive.
- Bargaining Power of Suppliers: Low, as construction and development materials are readily available.
- Threat of Substitutes: Moderate, with off-campus housing options and potential for alternative housing models like co-living spaces.
- Competitive Rivalry: Moderate, with existing landlords and potential for new developers entering the market.
SWOT Analysis:
Strengths:
- Strong brand reputation
- Access to 196 acres of land
- Commitment to sustainability
- Established relationships with local community
Weaknesses:
- Limited financial resources
- Potential for community resistance
- Lack of experience in large-scale housing development
Opportunities:
- Growing student population
- Government incentives for affordable housing
- Partnerships with private developers
Threats:
- Rising construction costs
- Environmental regulations
- Competition from other universities
Value Chain Analysis:
FFU's value chain can be analyzed to identify key activities related to housing development:
- Inbound Logistics: Land acquisition, material procurement, and construction management.
- Operations: Building construction, maintenance, and property management.
- Outbound Logistics: Tenant selection, lease agreements, and resident support services.
- Marketing & Sales: Promotion of housing options, tenant recruitment, and lease agreements.
- Service: Resident support services, maintenance requests, and community engagement.
Business Model Innovation:
FFU can explore innovative financing models to make housing more affordable, such as:
- Public-private partnerships: Collaborating with developers and government agencies to share costs and resources.
- Social impact bonds: Attracting investors who are willing to fund projects with a social return on investment.
- Crowdfunding: Engaging the university community and alumni to contribute to housing development.
4. Recommendations
Phase 1: Strategic Planning and Community Engagement (Year 1)
- Develop a comprehensive strategic plan: Define housing goals, identify target demographics, and establish sustainability criteria.
- Conduct a thorough feasibility study: Analyze potential development sites, assess environmental impact, and estimate costs.
- Engage with the local community: Organize town hall meetings, conduct surveys, and establish a community advisory board.
- Explore potential partnerships: Identify private developers, government agencies, and non-profit organizations with shared interests.
Phase 2: Design and Development (Year 2-3)
- Develop a phased approach: Prioritize development based on student needs and financial feasibility.
- Incorporate sustainable design principles: Utilize green building materials, optimize energy efficiency, and minimize environmental impact.
- Implement community-driven design: Involve students, faculty, and local residents in the design process.
- Secure financing: Explore various funding options and secure commitments from partners.
Phase 3: Construction and Management (Year 4-5)
- Select a qualified contractor: Conduct a competitive bidding process and prioritize sustainability and community engagement.
- Implement a robust construction management plan: Ensure timely completion, adherence to budget, and safety protocols.
- Establish a comprehensive property management system: Manage leases, maintenance requests, and resident communication.
- Promote community integration: Organize social events, encourage resident involvement, and foster a sense of belonging.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with FFU's mission of providing a high-quality education and fostering a sustainable campus community.
- External customers and internal clients: The recommendations address the needs of students seeking affordable housing and the university's desire to maintain its rural character.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate FFU's housing offerings.
- Attractiveness: The phased approach and innovative financing models aim to ensure financial feasibility and sustainability.
Assumptions:
- The university is committed to investing in affordable housing.
- The local community is willing to engage in collaborative development.
- Government incentives for affordable housing will remain available.
6. Conclusion
By adopting a strategic, phased approach, FFU can develop responsible housing that meets the needs of its students while preserving its commitment to sustainability and community engagement. The recommendations outlined above provide a roadmap for achieving this goal, ensuring that the university's 196 acres are used to create a vibrant and sustainable campus community.
7. Discussion
Alternatives:
- Outsourcing housing development: FFU could partner with a private developer to handle all aspects of the project. However, this approach might compromise control over design and sustainability.
- Developing off-campus housing: FFU could invest in off-campus housing options to alleviate pressure on campus housing. However, this would require significant investment and could lead to challenges in managing off-campus facilities.
Risks:
- Community resistance: The project could face opposition from local residents concerned about increased traffic or environmental impact.
- Financial constraints: Rising construction costs or unforeseen expenses could jeopardize the project's financial viability.
- Lack of expertise: FFU may lack the internal expertise to manage a complex housing development project.
Key Assumptions:
- The university's commitment to affordable housing will remain strong.
- The local community will be receptive to the proposed development.
- Government incentives for affordable housing will continue to be available.
8. Next Steps
Timeline:
- Year 1: Strategic planning, community engagement, and feasibility study.
- Year 2: Design and development, securing financing.
- Year 3: Construction commencement.
- Year 4-5: Construction completion, property management, and community integration.
Key Milestones:
- Secure funding commitments from partners.
- Finalize design plans and obtain necessary permits.
- Select a qualified contractor and begin construction.
- Establish a property management system and resident support services.
By implementing these recommendations and monitoring progress through key milestones, FFU can successfully develop responsible housing that addresses the needs of its students, strengthens its commitment to sustainability, and fosters a vibrant campus community.
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Case Description
What does a university owe to the community where it is based? The idea of an anchor institution reflects the relational dynamics between a large entity and the often-lower-income community where it is located or does a significant portion of its business. This field-based case examines the social responsibility of the University of Virginia (UVA), a public university founded in 1819 in Charlottesville by the third president of the United States, Thomas Jefferson. UVA's significant growth has led to shortages in affordable housing, as UVA has purchased large swaths of land for its use and UVA students occupy much of the remaining lower-cost rentals near the university. As a result, local residents often find themselves pushed to outlying areas and lacking the public transportation necessary to commute to work. In the Charlottesville community, many have been calling on UVA to remedy the situation for over a decade. This issue is particularly salient in an environment where the president and board chair at the University of Pennsylvania was forced to step down for decisions related to sociopolitical issues beyond the campus. The case presents three different frameworks for considering social responsibility: as an anchor institution, as an entity exempt from property and income taxes, and as a public university subsidized by the state. The case guides students to policies underlying current socioeconomic conditions, the ethics of disproportionate use of limited resources, the obligations of tax exemptions, and the responsibilities of anchor institutions. It provides rich data for students to consider questions including the following: Is it fair for universities to enroll students without supplying housing for them? Does a public university have responsibilities that would not apply to a private university? Are UVA's actions aligned with its culture and, by extension, the Jeffersonian ideal upon which it was founded?
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