Students living in West Lake may have noticed the construction of FGCU’s new faculty housing project, Eagle View Village, an initiative primarily aimed at new hires from outside of Southwest Florida.
The small houses are intended to be 20% cheaper than other housing options in the area. FGCU seems to be using reduced-cost faculty housing as a solution to its issues with faculty retention.
For students worried about whether the money for this project will come out of their pockets, do not fret. The $23.6 million for this project comes from a bond-financing model through the FGCU Financing Corporation, which is separate from student housing debt.
It may seem nice for FGCU to offer a reduced-cost option for its employees amid the rising cost of living across America, but to me, it seems dystopian for faculty to be forced to live in company-owned housing to afford a place to live. The idea of a company having to build employee housing in order for employees to be able to afford housing speaks volumes about not only the company itself but the housing market as a whole.
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FGCU salaries are consistent with statewide averages, but would need to be raised significantly to compete nationwide. The lower salary, combined with FGCU’s notable lack of tenure, is not a good look for job candidates.
If FGCU really wanted to invest in and retain its employees, it might have better luck with raising salaries. Faculty have been vocal in the past about their demands for pay raises and it’s important for FGCU to honor those requests to create a good environment for employees. After all, a university is nothing without its professors. Making positions at FGCU more desirable can only attract higher-quality employees.
The cost of living in the Fort Myers/Estero area is not exceptionally high unless you are looking for luxury. There is no reason for someone working full-time at a university not to be able to afford a home. It looks to me like a thinly veiled attempt at cheaping out on salary raises.
FGCU can eventually break even on the money spent building faculty housing since it will make the money back in rent. Financially raising salaries would cost FGCU more over time, but the loyalty and quality of employees would increase FGCU’s value as a university.
Florida has already been experiencing a huge housing construction boom over the past few years, with Lee County consistently being one of the fastest-growing areas. Construction is the largest emitter of greenhouse gases. The materials used, habitat destruction and water pollution combine to make it incredibly damaging to the environment.
It is disappointing to see FGCU, a school that preaches sustainability as one of its founding principles, contribute to the environmental damage of construction for a project that is not necessary. Considering the many apartments and homes already present in the area, faculty should have no issue finding somewhere to live if they are being compensated fairly.
Overall, the faculty housing is not a horrible idea in theory. However, it starts to look like a lack of appreciation for faculty when evaluated in depth. If FGCU wants to really invest in its employees, it should consider raising wages, benefits and tenure.