University of Nebraska Medical Center University of Nebraska Omaha University of New Brunswick University of New Hampshire University of New Haven University of New Mexico University of North Texas University of Northern Iowa University of Notre Dame University of Oregon University of Pennsylvania University of Redlands University of Rhode Island University of Rochester University of San Diego University of San Francisco University of Southern Maine University of Southern Mississippi University of St. Thomas University of Tennessee Health Science Center University of Tennessee, Knoxville University of Texas at Dallas University of the Sciences in Philadelphia University of Vermont Vanderbilt University Virginia Commonwealth University Virginia Department of General Services Wagner College Wake Forest University Washburn University Washington University in St. Louis Wellesley College Wesleyan University West Chester University West Liberty University Rhode Island School of Design West Virginia Health Science Center West Virginia Institute of Technology West Virginia School of Osteopathic Medicine West Virginia State University Presenters: Caroline Johnson & Jayne Dabrah West Virginia University Western Connecticut State University Western Oregon University Westfield State University Wheaton College Widener University Williams College
Who Partners with Sightlines? Robust membership includes colleges, universities, consortiums and state systems Sightlines advises state Sightlines is proud to systems in: announce that: • • Alaska 450 colleges and universities are • California Sightlines clients • Connecticut including over 325 • Hawaii ROPA members. • Maine • 93% of ROPA • Massachusetts members renewed in • Minnesota 2014 • Mississippi • We have clients in 42 • Missouri Serving the Nation’s Leading Institutions: states, the District of • Nebraska Columbia and four • 70% of the Top 20 Colleges* • New Hampshire Canadian provinces • • New Jersey 75% of the Top 20 Universities* • More than 100 new • Pennsylvania • 34 Flagship State Universities institutions became • Texas • Sightlines members 13 of the 14 Big 10 Institutions • West Virginia since 2013 • 9 of the 12 Ivy Plus Institutions • 8 of 13 Selective Liberal Arts Colleges * U.S. News Rankings 2
A Vocabulary for Measurement The Return on Physical Assets – ROPA SM Institution Art Center College of Design The annual The accumulation investment needed of repair and Bentley University to ensure buildings modernization will properly needs and the perform and reach definition of Berklee College of Music their useful life resource capacity “Keep - Up Costs” to correct them Bowdoin College “Catch - Up Costs” Brown University Annual Asset Stewardship Reinvestment California Institute of the Arts Asset Value Change Connecticut College Ithaca College The effectiveness The measure of of the facilities service process, the operating budget, maintenance Massachusetts College of Art and Design staffing, quality of space and supervision, and systems, and the energy customers opinion Mount Holyoke College management of service delivery Operational Comparative Considerations Service Effectiveness Size, technical complexity, region, geographic location, and setting are all factors included in Operations Success the selection of peer institutions 3
Core Comments > Campus was built earlier than the Sightlines database > Sturdy bones but in need of modernization > Smaller, historic buildings place stress on operations > Campus needs are split between “Keep Up” and “Catch Up” > RISD’s current capital strategy puts pressure on “Keep Up” funds > Limited one-time funding creates high overall backlog of need > RISD has more program space / student than peers > Studio space driving need? > New emissions data shows downward trends 4
Putting Your Campus Building Age in Context The campus age drives the overall risk profile Post-War Complex Built in 1991 and newer Pre-War Built from 1951 to 1975 Modern Built before 1951 Built from 1976 to 1990 Technically complex Lower-quality Durable construction Quick-flash construction spaces construction Older but typically lasts Low-quality building Higher-quality, more Already needing more longer components expensive to maintain & repairs and renovations repair Modern Pre-War Post-War Complex 25% Percent of Total Percent of Total Space Percent of Total Space Percent of Total Space Space DB 15% DB 36% DB 30% DB 20% RISD 3% RISD 7% RISD 3% RISD 87% 20% 15% %GSF 10% 5% 0% Sightlines Database- Construction Age RISD 5
Resetting the Clock Through Renovations RISD has older facilities on average, but has made more impact with renovations Construction Age v. Renovation Age 120 100 Years of Age 80 60 40 20 0 A B C D E F G H I J RISD Weighted Construction Age Weighted Renovation Age Peer Reno Average Peer Construction 0 0 -6 0 -9 -8 -7 -11 -13 -20 -27 -49 -52 -40 -60 Age Reduction Peer Avg Age Reduction = 12 years Peers ordered by increasing tech rating 6
A Shifting Campus Age Profile Understanding the Impact of Age on Capital Demands Campus Age by Category 100% 90% 22% 26% 29% 32% 39% 80% High Risk 70% High Risk 27% 60% 21% % GSF 16% 37% 50% 48% 40% 28% 32% 30% 36% 19% 20% 26% 23% 10% 15% 15% 9% 0% Peers (42.6) RISD (51.2) RISD FY2021 RISD FY2026 RISD FY2035 Under 10 10 to 25 25 to 50 Over 50 New construction: ~100K GSF 250 South Water Street, ~ 100K Housing and Student Life at Angell Street Renovations : College, Metcalf, Homer, Nickerson, Barstow, Larned, 7 Thompson & Alumni, B.E.B.(Bayard Ewing Building)
Physical Drivers of Campus Similar physical attributes to peer institutions Density Factor Density Factor Impacts: 800 Users / 100K GSF 700 Wear & Tear of Space 600 500 400 Life Cycles of Building Components 300 200 100 Operational Demands 0 A B C RISD D E F G H I J Tech Rating 5 Tech Rating Impacts: Technical Complexity 4 Repair & Replacement Costs 3 2 Energy Consumption Levels 1 Less Complex More Complex 0 Operational Demands A B C RISD D E F G H I J Database Peer Group 8
Density across the Sightlines Database Density Factor Across the Sightlines Database Private Institution Average Density: Users per 100,000/GSF The database average for Public Institution Density has decreased by Average RISD 5% over the past 5 years. The average classroom utilization rate is 50%-60% Mean Small Institutions & Liberal Arts Comprehensive University Urban/City Community College *Density Factor measures the number of faculty, staff and students FTEs on campus per hundred thousand square feet. 9
Program Space Per Student RISD has more program space per student than peer and database average RISD Program Space Per Student Peers Program Space Per Student 500 500 450 450 400 400 350 350 300 300 292 GSF/FTE GSF/FTE 242 250 250 200 200 150 150 100 100 50 50 0 0 2009 2010 2011 2012 2013 2014 2015 2016 Database Average Peer Group Member Average *Arranged by Density Factor 10
Less Economies of Scale w/ Student Life Space Average Building Size by Function Building Intensity by Function 40,000 80 Smaller buildings 35,000 70 30,000 60 Blds / 1,000,000 GSF 25,000 50 Building Size 20,000 40 15,000 30 20 10,000 10 5,000 Larger - - buildings Acad/Admin Residential Student Life Support Acad/Admin Residential Student Life Support Appendix 1 for more on building intensity 11
Total Capital Investment Over Time At RISD, focus has been on existing space Total Capital Investment $14.0 $12.0 39% 61% $10.0 $8.0 $ in Millions $6.0 $4.0 Average Annual Spending: $3.4M $2.0 $0.0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Existing Space Investment New Space Investment Average Spending 12
Total Capital Investment- Existing Space Investment levels rise in FY14-16 due to the ISB project Total Capital Investment $12.0 39% $10.0 61% $8.0 $ in Millions $6.0 Average Annual Spending: $4.2M $4.0 $2.0 $0.0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 Existing Space Investment Average Spending 13
Peers Out Invest RISD RISD FY10-16 Investment Mix Total Project Spending into Existing Space 8% $7.00 24% $6.00 37% $1.08 $5.00 20% Building Envelope $4.30 11% $4.12 $4.00 $/GSF Building Systems Peer Systems FY10-16 Infrastructure $3.00 Investment Mix Space Renewal 7% 13% $2.00 Safety/Code $1.00 36% 31% $0.00 2010 2011 2012 2013 2014 2015 2016 21% RISD Peer Group Average 14
Understanding RISD’s Investment Target Defining Stewardship Investment Targets RPV: $662.9M $25.0 $20.0 Target Need: Discounts for campus modernization and $15.0 $ in Millions replacement of components before life cycles come due $10.2 $10.0 $19.9 $3.6 $5.0 $7.8 $5.8 $0.0 3% Replacement Value Life Cycle Need Functional Obsolescence (Target) (Equilibrium) $18.0M $9.4M Envelope/ Mechanical Space/ Program Depreciation Model Sightlines Recommendation 15
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