In 2022-23, 12 construction grants ($546.7 million) were awarded statewide. The Riverside City College-University of California, Riverside $294 million, seven-story project will cover 418,269 square feet on the corner of Canyon Crest Drive and Linden Street. While University of California, Riverside will own the land and will be the jurisdictional authority, Riverside Community College District will have real property ownership interest in the state funded housing units. Ultimately, Riverside City College will have access to 444 beds (University of California, Riverside – 899 beds). The project will offer mix of suite-style housing (common area, bathroom and small kitchenette) and predominant unit – two bedrooms and a bath. Riverside City College anticipates rents to run from $680 for a double to $760 for a single. University of California, Riverside’s rent projections are $1,400 for a double to $1,700 for a single.

Riverside City College’s appropriation will cover $125 million of the construction cost, with the University of California, Riverside covering the remaining $169 million. The institutions will share oversight for planning, design, construction and operational management of the student housing facility. A waterfall agreement allows Riverside City College to release any unused beds to the University of California, Riverside in any given year and vice versa.

Construction is expected to begin in December and be completed by July of 2025 with anticipated occupancy by fall of 2025. State Bill 169 established the Higher Education Student Housing Grant Program to provide one-time grants for the construction of student housing or for the acquisition and renovation of commercial properties into student housing for the purpose of providing affordable, low-cost housing options for students enrolled in public postsecondary education in the state. The bill required 50 percent of available funds be provided to community colleges; with 30 percent to the California State University and 20 percent to the University of California systems.

 

Moreno Valley and Norco colleges have each submitted project proposals for the next round of state funding.