November 22nd, 2013 by TRT Blog
Based on data from 50 current campus housing construction projects, the 2012 annual College Housing Report published by College Planning & Management magazine highlights residence halls across America. With a sharp focus on statistics, reasoning and projections for the future, the report provides industry professionals, such as The Refinishing Touch, with a well-rounded knowledge of the market.
This year, the value of furniture asset management services to the higher education sector was proven again and again. When asked what types of renovations or upgrades universities are considering in the next three to five years, 70% said furniture and furnishings replacement. Furthermore, with nearly 96% of budgets going to construction costs, fees and other expenses, furniture and furnishings are costing institutions between 2 – 6%. This margin represents tens of thousands of dollars universities could be saving by opting for sustainable furniture asset management services, such as refinishing and re-upholstery.
In fact, College Planning & Management magazine predicts one of the top five issues that chief housing officers will face in the next three to five years is the need to modernize facilities. Retaining current students and attracting prospective students depends largely on the quality and appeal of housing.
Refinishing, remanufacturing and re-upholstery provide a variety of options to housing staff looking to revamp dorms and public spaces on campus. Over the course of the past 35 years, we’ve see the positive effects of upcycling existing assets on budgets, green ratings and student satisfaction.
As the report adequately states, the housing ‘experience’ is key. We hope to work with these 70% whom are looking ahead to furniture and furnishing replacement in the coming years to restore assets – and attitudes – to like-new condition.