SFU to add 445 new spaces in on-campus housing: Will that be enough?

On July 12, the provincial government announced the start of a new student housing project at SFU. The new building will add 445 beds to on-campus housing on Burnaby Mountain and is expected to be completed in 2027. The BC government said the new project aims to reduce pressure on the regular rental market by providing more space for students on campus. This latest project is the third phase of SFU’s housing master plan. 

According to the announcement, Phase 3’s total cost will be $187.6 million. The province will contribute $132.2 million through its loan program, and SFU will contribute the remaining $55.4 million. 

“When students don’t have access to student housing, they are forced into the local rental housing market with higher costs, increasing competition with other renters,” said BC Premier David Eby in a statement. “By providing hundreds of additional students with on-campus homes every year – as well as increased access to convenient child care – we are helping them focus on their studies and their futures, while also relieving pressure on local renters who aren’t students.”

With the increase in demand for on-campus housing among SFU students, the university is working on a new housing master plan. SFU’s current housing master plan dates back to 2015. 

The master plan’s original aim was to reach 10% of SFU students living on campus. According to Tracey Mason-Innes, executive director of campus services at SFU, there are currently around 2,500 beds on campus, and the new project will increase the number to 3,016 in 2027. At present, the university has more than 37,000 students, meaning that the original projections will need to be modified. 

“The data from 2015 is not very accurate today,” Mason-Innes told the Beacon. “We are going to be doing a housing master plan refresh in 2025. This fall, we’ll start preparing for that, and we’ll do a refresh to the original plan in the new year. By then, we’ll have a better sense of what we’re dealing with as far as demand goes.”

Mason-Innes added that phase four will probably add the same number of rooms, but it depends on the university’s funding options. She said the university has yet to determine where the funding will come from for phases four and five. 

“The master plan tells us what to build, but we don’t have a way to build it yet,” Mason-Innes said. “You never know, there could be other projects that come our way, but we’ve been able to add more buildings to our supply than what was planned in the housing master plan through partnerships and different things like that.” 

The new housing is for SFU upper-year students who can live more independently in apartment-style housing. While the rent is high for students, it is on the lower end of the market rate for rentals in the area. 

“We’re really close to market, if not below, and we include all of the utilities and amenities. They’re all fully furnished; they have a mini-fridge provided in the room, and they have a bed and desk. Rent includes all these things,” Mason-Innes said. “If you compare a studio today at our downtown Vancouver residence, it’s $1,400 a month. It’s definitely on the lower end of the market.”

Mason-Innes added that SFU will try to keep rents in the new building within market range while adding minimal increases to keep up with inflation. According to a recent housing demand study that SFU conducted, affordability is the main student concern. On-campus living is more affordable than living off-campus, and it allows students to save on commuting. 

“Demand has changed, and that was even before COVID hit us. Since COVID, the desire to live in community is very high right now, and things have gotten really expensive, including transportation and everything,” Mason-Innes said. 

In the study, students have expressed a willingness to compromise on living standards. 

“Although students really want bachelor apartments and to live by themselves, affordability is a very strong factor right now and it is more so than ever,” Mason-Innes said. “Students are looking for a price point that matches their budget, and they’re willing to live with more people or share certain things.” 

As more people become housing-insecure due to high living costs and the lack of rental housing, with Burnaby and the rest of the Lower Mainland at below 2% vacancy rate, SFU will continue to experience increased pressure to build more housing. In addition, Burnaby Mountain has limited space, and Mason-Innes said SFU may resort to building higher buildings and redeveloping some of its existing facilities on campus. 

“Many students don’t need to live on campus; most actually don’t; they live at home or are able to commute. The demand in 2015 told us that we could house 10% with no problem; what it will tell us in January, I don’t know yet,” Mason-Innes said. 

While the City of Burnaby has not contributed any funding to the project, Mason-Innes said that the city has been helping facilitate permits and other procedures and requirements. 

This piece was made possible by the Local Journalism Initiative.

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