Hello fellow 2008ers,
My name is Kelly and I worked in advertising in SF while my then fiance, now wife went through UOP ('03). We didn't get student housing (damn lottery!) but spent many nights there. Honestly, they are probably the best VALUE in Pac Heights and arguably the city; for the cost they can't be beat. While they aren't the nicest living option they are far better than many others. Probably the 2nd best and #1 worst thing about them is that you're always around classmates--while you'll be in the "loupe" (terribly cheesy pun) for exams/assignments, you'll also be around all the interpersonal dramas. Picture dorms for mostly-more-mature-than-undergraduate-freshmen. As for me, I plan to take over a graduating Ortho student's place above Starbucks on Fillmore, which barely beats the student housing location (UOP's parking lot runs to the back of the apt.). Of course, you'll all be invited over.
FYI, we used to live in the Richmond district where rent is more affordable ($1,500 in 2000, renegotiated to $1,300 in 2002 & probably around $1,000 now), apartment buildings are quaint and neighborhoods are more parking friendly (ours was in a 4 unit building, w/newly redone wood floors + parking, though there was plenty of street parking available but who wants to move every T/R for street cleaning?). The downside is a longer commute (20 min bus ride) and the inability to run home at lunch to retrieve the assignment you forgot. However, we were still in the city and easily able to party on weekends.
Sorry for the long winded intro. I know housing can be a huge pain--in 2000 at the .com peak SF vacancy was <1% and open houses consisted of people early, w/credit reports, letters of rec. and cashier's checks ready for deposit--seriously. Fortunately our class has a better market to manage.