Tom Hoban

Tom Hoban

Why student housing in Everett is such a big deal

  • By Tom Hoban Realty Markets
  • Thursday, February 4, 2016 1:59pm
  • BusinessEverett

Everett Community College is partnering with a private developer to build a new student housing complex next to its north Everett campus.

The commitment to campus housing is meaningful well beyond the effect a few hundred more students will have on coffee shops and fast food places.

Snohomish’s Koz Development started construction on an $11 million, six-story building that could house 120 students.

With housing options in the mix, EvCC can now get into the business of importing students from other communities. The college has modest and make-do arrangements in place now. What they contemplate will be an upgrade and a helpful tool in recruitment, according to school officials.

For Everett, it’s what these students do after they come that changes things and why the relationship of colleges and the communities where they are located is much bigger than the degrees themselves.

That’s because a certain percentage of students will stay. Viewed in one way, it’s like getting into the business of importing other communities’ best and brightest young people. Until now, Everett has been a net exporter of many of its top high school students seeking a four year degree.

This is significant. Students who live in student housing build a sticky relationship with the community where they live and study.

Some will settle into the community after graduation, create new businesses, serve on local boards and bring their energy and talent to bear in constructive ways.

In fact, that is not just a by-product by part of the strategy around building more student housing. It is intentional.

EvCC vice president Pat Sisneros heads the housing movement there.

“We’re drawing international students now. Five years ago, we had 50 international students. Today, we have close to 400,” Sisneros said. “The housing we’re pursuing through public-private partnerships, though, will allow us to house students from the region and from all around the world. It’s very exciting in terms of what it means for EvCC but it’s really exciting for the community to feel the benefits.”

Already, internship relationships and other benefits that link local businesses and institutions with EvCC’s students are growing.

Over time, residential universities and colleges in any town can be key tools in economic activity.

New institutions such as an innovation center for business incubation and capital formation is possible as well.

It all starts with strong academic offerings and is strengthened by on-campus housing.

Like Bothell and its relationship with the University of Washington campus or Bellingham and its relationship with Western Washington University, Everett has always wanted the benefits that having strong four-year programs bring. With student housing about to quadruple in size, it very well may see them.

Tom Hoban is CEO of The Coast Group of Companies. Contact him at 425-339-3638 or tomhoban@coastmgt.com or visit www.coastmgt.com. Twitter: @Tom_P_Hoban.

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