After the CSU system realized it misread the fine print for a new state grant to build affordable student housing, officials went back to the drawing board, ran new numbers, and told lawmakers they have a plan to develop more discounted student homes.
The proposed housing projects would also cost the state less than what the Cal States put forth last fall — a rare instance of spending less to gain more in higher education.
Cal State’s revised plans call for $823 million in total funding for housing projects across 10 campuses — with $535 million of that money coming from the new state housing grant and the rest from outside funds., the Cal States get $600 million over the three-year life of the grant program — assuming lawmakers and the governor follow through with their promise to fully fund the program.
However the math works out, the state needs more affordable beds for students. Numerous California public universities report long waiting lists of students seeking campus housing. San Francisco State writes in its grant application that it has space for 4,000 student beds but in recent years has had a waitlist of 2,000 students seeking housing.
“I'm not going to second-guess that,” said McGrory, who shared his calculations with CalMatters after Molle’s reply. He added that as a private developer, he tries to spend no more than half of his own funds for projects, but that affordable housing requires a different calculus because there’s less rental revenue to pay back the debt.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ohio State student robbed at gunpoint near Columbus campusThe student was robbed after making arrangements online to sell a pair of shoes, police say.
Read more »
The Iron of Earth's Inner Core Could Be in a Strange 'Superionic' State, Study FindsDeep below the crust of Earth, past the thick mantle and liquid outer core, lies a 1,220-kilometer (760 mile) ball of solid inner core.
Read more »
Indian state re-opens some schools in wake of hijab disputeA state in southern India re-opened some schools on Monday that had been closed following protests last week over female students not being allowed to wear hijabs, or head-to-toe burqas, in class.
Read more »
Accused Santa Fe High School shooter to remain at Texas state hospitalDimitrios Pagourtzis, 21, has been at the North Texas State Hospital in Vernon since early December 2019.
Read more »
Girl, 7, falls nearly 40 feet from gondola at Florida State FairThe girl is expected to be OK after the fall Saturday at the Florida State Fair in Tampa.
Read more »
Ice hockey: Predicting the NJSIAA state tourney brackets ahead of seeding meetingHere's how we see the NJSIAA ice hockey state tournament brackets will be seeded on Tuesday
Read more »