Abandoned McMansions make pretty cool dorms in Merced
Hey college kid: Why share a stinky, only marginally clean little coffin-sized room with three other dudes (all of them also stinky and marginally clean)? Why indeed, if you’re going to college in Merced? Because Merced, a California city slammed by the foreclosure crisis, is littered with empty McMansions, acres and acres of abandoned homes, all of them huge and luxuriant in comparison to even the most posh of dorm rooms.
And now, UC Merced students are taking them over.
Nationally, RealtyTrac places Merced the third highest American city for foreclosures in the nation, behind only Las Vegas, NV and Vallejo, CA. Ironically these ubiquitous rows of new-construction “McMansion” style homes were built for the expected commerce and community that would serve the same students who now occupy them. The New York Times writes that the ”speculative fever that gripped the region and drew waves of outside investors to this predominantly agricultural area was fueled in part by the promise of the university itself, which opened in 2005 as the first new University of California campus in 40 years.” Unfortunately, the instant bustling college town dream didn’t come true, due to the economic and real estate melt down felt so strongly in the Central Valley.
Merced then found itself on the one hand with too many homes and no buyers who could afford them. On the other hand, UC Merced offers only 1,600 dorms though enrollment this year was over 5000 students.
Speaking to the Times, former Merced mayor and real estate broker Ellie Wooten summed up the answer to this little math problem simply: ”Five students paying $200 a month each trump families who cannot afford more than $800 a month.”http://blog.sfgate.com/ontheblock/2011/11/22/1349/?tsp=1