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NOTICE OF PROPOSED CHANGES TO HOUSING RATES

Pursuant to Board of Governors Regulation 7.001(4), the University of North Florida is providing notice of proposed revisions to current housing rental rates. The proposed rates will be presented to the UNF Board of Trustees at its full board meeting on Feb. 27 at 8:30 a.m. in the Adam W. Herbert University Center at UNF, 12000 Alumni Drive.

This will be the first housing rental rate increase in eight years at UNF. With evolving market conditions and growing demand for student housing, the rental rate increase is requested to ensure continued quality services for residents and maintenance of facilities while upholding the University’s financial responsibilities to bondholders.

The increase will be dependent on the facility and room type with an overall average of 4.25%* for each of the next three (3) years, implemented in summer 2023. View the proposed rental rates below by term/room type. *The proposed rate increase for summer 2023 averages 9.03% due to the shortened summer term.

Florida Statutes Ch.1009.24 provides the UNF Board of Trustees the authority to approve University fees such as housing rental rates. For questions regarding the notice of proposed changes, please email Stephanie Howell, paralegal, Office of the General Counsel at showell@unf.edu.

Supporting Documentation for Notice

Outlined below are proposed rental rate increases for Summer 2023 – Spring 2026. Current UNF rental rates have not increased since 2015.

For the standard Academic Year housing contracts, which include Fall and Spring semesters, HRL is proposing an increase of 4.25% for all bed types beginning in Fall 2023 and continuing annually for the next 3 years (2023/2024, 2024/2025 & 2025/2026).

AY Housing Contract (Fall 2023 & Spring 2024)

PROPOSED RATES

Community	Bed Type	Current rate/semester	Proposed rate/semester	% Increase
Osprey Hall	Triple Space*	$1,735	$1,809	4.25%
Osprey Hall	Double Space	$2,250	$2,346	4.25%
Osprey Hall	Private Space	$3,450	$3,597	4.25%
Osprey Landing	Triple Space	$2,500	$2,606	4.25%
Osprey Landing	Double Space	$2,900	$3,023	4.25%
Osprey Landing	Private Space	$4,950	$5,160	4.25%
Osprey Cove	Triple Space	$2,500	$2,606	4.25%
Osprey Cove	Double Space	$2,900	$3,023	4.25%
Osprey Cove	Private Space	$4,950	$5,160	4.25%
Osprey Crossings	Triple Space	$2,500	$2,606	4.25%
Osprey Crossings	Double Space	$3,150	$3,284	4.25%
Osprey Crossings	Private Space	$5,300	$5,525	4.25%
Osprey Village	One-Bedroom Double	$3,300	$3,440	4.25%
Osprey Village	Two-Bedroom Double	$2,435	$2,538	4.25%
Osprey Fountains	Private bedroom - 4 Bed Suite	$3,300	$3,440	4.25%
Osprey Fountains	Private bedroom - 6 Bed Suite	$3,085	$3,216	4.25%
Osprey Fountains	Double bedroom - 6 Bed Suite	$2,830	$2,950	4.25%
Osprey Fountains	Private bedroom - 5 Bed Suite*	$3,570	$3,722	4.25%
Osprey Fountains	Private bedroom - 1 Bed Suite	$5,000	$5,213	4.25%

*Bed type only used in special situations

AY Housing Contract (Fall 2024 & Spring 2025)

PROPOSED RATES

Community	Bed Type	Current rate/semester	Proposed rate/semester	% Increase
Osprey Hall	Triple Space*	$1,809	$1,886	4.25%
Osprey Hall	Double Space	$2,346	$2,446	4.25%
Osprey Hall	Private Space	$3,597	$3,750	4.25%
Osprey Landing	Triple Space	$2,606	$2,717	4.25%
Osprey Landing	Double Space	$3,023	$3,151	4.25%
Osprey Landing	Private Space	$5,160	$5,379	4.25%
Osprey Cove	Triple Space	$2,606	$2,717	4.25%
Osprey Cove	Double Space	$3,023	$3,151	4.25%
Osprey Cove	Private Space	$5,160	$5,379	4.25%
Osprey Crossings	Triple Space	$2,606	$2,717	4.25%
Osprey Crossings	Double Space	$3,284	$3,424	4.25%
Osprey Crossings	Private Space	$5,525	$5,760	4.25%
Osprey Village	One-Bedroom Double	$3,440	$3,586	4.25%
Osprey Village	Two-Bedroom Double	$2,538	$2,646	4.25%
Osprey Fountains	Private bedroom - 4 Bed Suite	$3,440	$3,586	4.25%
Osprey Fountains	Private bedroom - 6 Bed Suite	$3,216	$3,353	4.25%
Osprey Fountains	Double bedroom - 6 Bed Suite	$2,950	$3,075	4.25%
Osprey Fountains	Private bedroom - 5 Bed Suite*	$3,722	$3,880	4.25%
Osprey Fountains	Private bedroom - 1 Bed Suite	$5,213	$5,435	4.25%

*Bed type only used in special situations

AY Housing Contract (Fall 2025 & Spring 2026)

PROPOSED RATES

Community	Bed Type	Current rate/semester	Proposed rate/semester	% Increase
Osprey Hall	Triple Space*	$1,886	$1,966	4.25%
Osprey Hall	Double Space	$2,446	$2,550	4.25%
Osprey Hall	Private Space	$3,750	$3,909	4.25%
Osprey Landing	Triple Space	$2,717	$2,832	4.25%
Osprey Landing	Double Space	$3,151	$3,285	4.25%
Osprey Landing	Private Space	$5,379	$5,608	4.25%
Osprey Cove	Triple Space	$2,717	$2,832	4.25%
Osprey Cove	Double Space	$3,151	$3,285	4.25%
Osprey Cove	Private Space	$5,379	$5,608	4.25%
Osprey Crossings	Triple Space	$2,717	$2,832	4.25%
Osprey Crossings	Double Space	$3,424	$3,570	4.25%
Osprey Crossings	Private Space	$5,760	$6,005	4.25%
Osprey Village	One-Bedroom Double	$3,586	$3,738	4.25%
Osprey Village	Two-Bedroom Double	$2,646	$2,758	4.25%
Osprey Fountains	Private bedroom - 4 Bed Suite	$3,586	$3,738	4.25%
Osprey Fountains	Private bedroom - 6 Bed Suite	$3,353	$3,496	4.25%
Osprey Fountains	Double bedroom - 6 Bed Suite	$3,075	$3,206	4.25%
Osprey Fountains	Private bedroom - 5 Bed Suite*	$3,880	$4,045	4.25%
Osprey Fountains	Private bedroom - 1 Bed Suite	$5,435	$5,666	4.25%

*Bed type only used in special situations

Our standard housing contract for The Flats at UNF apartment community is a longer-term agreement and includes fall, spring and summer housing (11.5 months). HRL is proposing an increase of 4.25% for all bed types at The Flats at UNF beginning in Fall 2023 and continuing annually for the next 3 years (2023/2024, 2024/2025 & 2025/2026).

For all bed types at The Flats at UNF, each resident has a private bedroom and bathroom but shares a common kitchen, living room and laundry room with their roommate(s).

The Flats at UNF rent is assessed to each resident in 12 equal installments. The total contract cost of each bed type is the installment rate x 12 .

The Flats at UNF Housing Contract (Fall 2023, Spring 2024 & Summer 2024)

PROPOSED RATES

Community	Bed Type	Current rate/installment	Proposed rate/installment	% Increase
The Flats at UNF	Two Bedroom Unfurnished	$699	$729	4.25%
The Flats at UNF	Two Bedroom Furnished	$754	$786	4.25%
The Flats at UNF	Two Bedroom Unfurnished Lake	$709	$739	4.25%
The Flats at UNF	Two Bedroom Furnished Lake	$764	$796	4.25%
The Flats at UNF	Three Bedroom Unfurnished	$649	$677	4.25%
The Flats at UNF	Three Bedroom Furnished	$704	$734	4.25%
The Flats at UNF	Three Bedroom Unfurnished Lake	$659	$687	4.25%
The Flats at UNF	Three Bedroom Furnished Lake	$714	$744	4.25%

The Flats at UNF Housing Contract (Fall 2024, Spring 2025 & Summer 2025)

PROPOSED RATES

Community	Bed Type	Current rate/installment	Proposed rate/installment	% Increase
The Flats at UNF	Two Bedroom Unfurnished	$729	$760	4.25%
The Flats at UNF	Two Bedroom Furnished	$786	$819	4.25%
The Flats at UNF	Two Bedroom Unfurnished Lake	$739	$770	4.25%
The Flats at UNF	Two Bedroom Furnished Lake	$796	$830	4.25%
The Flats at UNF	Three Bedroom Unfurnished	$677	$706	4.25%
The Flats at UNF	Three Bedroom Furnished	$734	$765	4.25%
The Flats at UNF	Three Bedroom Unfurnished Lake	$687	$716	4.25%
The Flats at UNF	Three Bedroom Furnished Lake	$744	$776	4.25%

The Flats at UNF Housing Contract (Fall 2025, Spring 2026 & Summer 2026)

PROPOSED RATES

Community	Bed Type	Current rate/installment	Proposed rate/installment	% Increase
The Flats at UNF	Two Bedroom Unfurnished	$760	$792	4.25%
The Flats at UNF	Two Bedroom Furnished	$819	$854	4.25%
The Flats at UNF	Two Bedroom Unfurnished Lake	$770	$803	4.25%
The Flats at UNF	Two Bedroom Furnished Lake	$830	$865	4.25%
The Flats at UNF	Three Bedroom Unfurnished	$706	$736	4.25%
The Flats at UNF	Three Bedroom Furnished	$765	$798	4.25%
The Flats at UNF	Three Bedroom Unfurnished Lake	$716	$746	4.25%
The Flats at UNF	Three Bedroom Furnished Lake	$776	$809	4.25%

SUS INSTITUTION RENTAL RATE RANGES as of 10/2022

INSTITUTION	Low end/semester	High end/semester
FAMU	$2,828	$3,770
FAU	$3,050	$5,480
FGCU	$2,410	$3,398
FIU	$2,450	$5,642
FPU	$2,908	$3,470
FSU	$2,795	$4,215
UCF	$2470	$4,530
UF	$2,551	$4,558
UNF	$2,250*	$5,330
USF	$2,995	$5,950
UWF	$2,900	$3,700

*Osprey Hall double room – Currently lowest per semester rental rate in the SUS. Even with proposed rate increase for 2023 to $2,346/semester, the Osprey Hall double room will likely continue to be the lowest rate in the SUS.

SUS HOUSING RENTAL RATE ESCALATION INFORMATION as of 10/2022

INSTITUTION	FALL 2021	FALL 2022	FALL 2023	FALL 2024	FALL 2025	FALL 2026	FALL 2027
FAMU	0%	0%	0%	4%*	TBD	TBD	TBD
FAU	0%	0%	TBD	TBD	TBD		TBD
FGCU	0%	0%	0%	TBD	TBD	TBD	TBD
FIU	0%	0%	3%**	3%**	2%**	TBD	TBD
FPU	No Data	No Data	No Data	No Data	No Data	No Data	No Data
FSU	2%	2%	2%**	2%**	2%**	TBD	TBD
UCF	0%	0%	5%**	TBD	TBD	TBD	TBD
UF	4.50%	4.50%	4.50%	4.50%	4.50%	TBD	TBD
UNF	0%	0%	4.25%**	4.25%**	4.25%**	TBD	TBD
USF	0%	0%	3.5%**	3.75%**	4.0%**	4.25%**	4.5%**
UWF	0%	0%	4%*	4%*	4%*	4%*	TBD

**Pending approval

LOCAL OFF-CAMPUS HOUSING MARKET INFORMATION as of 10/2022

FACILITY	Low end/month	High end/month	Notes
Rosemont St. Johns	$1,390	$2,028	Borders campus
Drift at Town Center East	$1,609	$2,454	Borders campus
Ravella at Town Center	$1,455	$2,650	1.5 miles from UNF
Frassati Newman Hall	$699	$1,099	2.2 miles from UNF
The Jaxon	$1,499	$2,699	2.2 miles from UNF
The Uptown at St. Johns	$1,661	$2,649	2.3 miles from UNF
Mirage on Kernan	$699	$1,271	2.7 miles from UNF
North Beach on Kernan	$1,592	$4,110	3.9 miles from UNF

Comparing UNF’s housing inventory to off-campus facilities is not always comparing “apples to apples”. In a recent market study completed by Brailsford & Dunlavey for UNF they determined the following market averages for monthly rent, not including utilities:

Market Average Rental Rates/Bed as determined by Brailsford & Dunlavey:

Spring 2020 - $750/month

January 2022 - $894/month

Brailsford & Dunlavey also indicated the following:

“Off campus rental rates have increased substantially in the last 3 years”

“Off-campus market rental rates are projected to continue to increase in the coming years”

Of the off-campus market, Frassati Newman Hall may be the most closely comparable in certain areas. Frassati Newman Hall, which is affiliated with the Catholic Diocese of St. Augustine, caters to UNF and FSCJ students, offers individual and short-term leases as well as includes some utilities in the cost of rent. The Mirage on Kernan may also be partially comparable as they at times offer short-term leases as well as include some utilities in the cost of rent.

UNF summer rental rates have not increased since 2015. The Summer housing contract can be for Summer A (typically 42 nights) or Summer B (typically 42 nights) individually or can be combined. HRL is proposing an overall average increase of all 7 rental rates of 9.03% for summer 2023. The 9.03% average increase for 2023 may seem high but since the summer semester housing contracts are a very short-term agreement of 42 nights for each term, the nightly rate of rent for each bed type is very reasonable as you can see below:

OSPREY LANDING/OSPREY COVE

Bed Type	Current rate/night	Proposed 2023 rate/night
Triple Space	$23.80	$27
Double Space	$27.62	$30
Private Space	$47.14	$50

OSPREY FOUNTAINS

Bed Type	Current rate/night	Proposed 2023 rate/night
Private bedroom - 4 Bed Suite	$31.43	$34
Private bedroom - 6 Bed Suite	$29.38	$33
Double bedroom - 6 Bed Suite	$26.52	$30
Private bedroom - 1 Bed Suite	$50	$53

Following the 9.03% overall average increase for 2023, HRL is proposing a 4.25% annual increase for summer 2024 and 2025.

Summer Term Housing Contract (Summer 2023) - Summer A or Summer B

PROPOSED RATES

OSPREY LANDING/OSPREY COVE – FTIC HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase*
Triple Space	$1,000.00	$1,134	13.4%
Double Space	$1,160.00	$1,260	8.62%
Private Space	$1,980.00	$2,100	6.06%

OSPREY FOUNTAINS – UPPER-CLASS HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase*
Private bedroom - 4 Bed Suite	$1,320.00	$1,428	8.18%
Private bedroom - 6 Bed Suite	$1,234.00	$1,386	12.32%
Double bedroom - 6 Bed Suite	$1,160.00	$1,260	8.62%
Private bedroom - 1 Bed Suite	$2,100.00	$2,226	6.0%

*The average increase of all 7 rental rates is an of 9.03%

Summer Term Housing Contract (Summer 2024) - Summer A or Summer B

PROPOSED RATES

OSPREY LANDING/OSPREY COVE – FTIC HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase
Triple Space	$1,134	$1,182	4.25%
Double Space	$1,260	$1,314	4.25%
Private Space	$2,100	$2,189	4.25%

OSPREY FOUNTAINS – UPPER-CLASS HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase
Private bedroom - 4 Bed Suite	$1,428	$1,489	4.25%
Private bedroom - 6 Bed Suite	$1,386	$1,445	4.25%
Double bedroom - 6 Bed Suite	$1,260	$1,314	4.25%
Private bedroom - 1 Bed Suite	$2,226	$2,321	4.25%

Summer Term Housing Contract (Summer 2025) - Summer A or Summer B

PROPOSED RATES

OSPREY LANDING/OSPREY COVE – FTIC HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase
Triple Space	$1,182	$1,232	4.25%
Double Space	$1,314	$1,370	4.25%
Private Space	$2,189	$2,282	4.25%

OSPREY FOUNTAINS – UPPER-CLASS HOUSING

Bed Type	Current rate/semester (42 nights)	Proposed rate/semester (42 nights)	% increase
Private bedroom - 4 Bed Suite	$1,489	$1,552	4.25%
Private bedroom - 6 Bed Suite	$1,445	$1,506	4.25%
Double bedroom - 6 Bed Suite	$1,314	$1,370	4.25%
Private bedroom - 1 Bed Suite	$2,321	$2,420	4.25%

HRL offers student Intersession Housing when classes are not in session to assist residents transitioning from the end of one housing contract to the beginning of another housing contract. Typically, Intersession Housing is offered between Spring and Summer terms and between Summer and Fall terms.

Additionally, during the summer months, HRL has the ability to offer UNF entities, as well as non-UNF entities, group/conference housing as well as individual guest/intern housing.

Outlined below are the current and proposed nightly rental rates for 2023 – 2025.

Intersession Housing for UNF Students

Bed Type	Current rate/night	Proposed 2023 rate/night	Proposed 2024 rate/night	Proposed 2025 rate/night
Varies	$35	$35 (no proposed change)	$36	$36 (no proposed change)

Individual Guest/Intern Housing for Non-UNF Students

Bed Type	Current rate/night	Proposed 2023 rate/night	Proposed 2024 rate/night	Proposed 2025 rate/night
Private BR	$42	$42 (no proposed change)	$43	$44

Group Camp/Conference Rates

Bed Type	Current rate/night	Proposed 2023 rate/night	Proposed 2024 rate/night	Proposed 2025 rate/night
Double BR	$35	$36	$37	$38
Private BR	$55	$56	$57	$58