FGCU Board of Trustees approves housing project for employee recruitment
November 05, 2024
A new initiative is coming to FGCU with the hope of alleviating rental and housing expenses for incoming employees. The Board of Trustees recently approved the first phase of FGCU’s workforce housing project to build 70 units of villa-style homes and townhomes on undeveloped land. The full project would include about 200 units. This piece of land is already owned by the university and is located near West Lake Village and the Gulf Coast Town Center.
Rendering highlights Phase One of FGCU’s workforce housing project. Subject to Florida Board of Governors approval.
Details are still being finalized for the project, but it provides a potential housing option for employees being recruited to work at FGCU who may be deterred by the high Southwest Florida rental and housing market. “The goal would be to achieve a minimum of 20% discount from the market rate,” said Kitty Green, vice president of Advancement. “Once construction is complete, the primary target market would include people being hired from outside of Southwest Florida. Existing employees will be a secondary market.”
The villa-style homes would serve as transitional housing. Annual leases will be offered for a maximum period of time, most likely not to exceed three years. The project will be funded and managed by a Direct Support Organization (DSO), similar to the two existing ones at FGCU that operate parking services and student housing and serve as the university’s nonprofit fundraising arm. A DSO is a governmental unit that can issue a bond that would be repaid by rent. The DSO will be managed by a board of representatives (to be determined), and it will operate for the benefit of the university.
Green expressed her excitement for the project and the impact it will have on recruiting FGCU's workforce. “I’m grateful that the Board of Trustees see the value of this project,” said Green. “It fits squarely with Goal 4 of our strategic plan, which focuses on our commitment to and retention of our employees. I’m excited for the opportunity to work on this type of project. As far as I know, no other public university in the state has provided this for their employees.”
