From The Magazine

Parallel-Lumen

The push to create affordable housing is creeping into student housing properties, further blurring the line that distinguishes the category from conventional multifamily assets. Municipal policies are largely driving the movement. Although the programs differ from one city to the next, they typically offer private developers density bonuses, fee waivers and other incentives to build the housing and secure long-term commitments to affordability with deed restrictions or other agreements. Some cities allow developers to contribute to a public housing fund to either opt out of providing on-site affordable units or …

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ACC-Georgetown

Undergraduate enrollment at colleges and universities is on an upswing post-pandemic. This number grew by 1.2 percent in fall 2023, marking the first increase since COVID, notes the National Student Clearinghouse Research Center. This is great news for the higher education sector, which was hit hard during and immediately following the pandemic.  The problem now is finding ways to offer these students — particularly the incoming freshmen — housing accommodations when room is scarce and costs are higher than ever.  Von Stange, assistant vice president for student life and senior director …

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Greystar Manoa

Enrollment is continuing to rise at many universities across the country — a fact which, alone, would be likely to substantiate a rise in public-private partnership (P3) development starts. This anticipated increase in P3 activity is even more likely to occur when viewed through the lens of the current economic environment, which is making financing of any sort tricky, but particularly for new development.  With more P3 projects expected, we’re also likely to see a growing number of on-campus  third-party management assignments. So what are the issues and trends today …

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LeaseCon

To centralize or not to centralize? This is one of the hot questions in the industry today as more companies are making the move to centralize leasing and operations efforts. But what does it look like in reality? And is it the right move for your company?  A number of industry professionals weighed in on the topic at Student Housing Business’ fifth annual LeaseCon/TurnCon conference, which took place December 4-5, 2023 in Charlotte, North Carolina.  The panel discussion included Kendra Woodley, director of sales with The Scion Group; Phil Ginsburg, …

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ReflectionStudentGeorgiaTech

From a leasing perspective, the numbers are almost too good to be true. Pre-leasing levels for the upcoming academic year are off the charts — a statement which feels almost saccharine given the past several years have also topped the charts. And to add even further sweetness,  occupancy rates in general are peaking and rental rates are growing across most markets, with some hitting double digit growth — a feat in the current economic environment.  And as if it couldn’t get better, properties are leasing up earlier than ever. “The …

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Lawrence

Student housing’s strong occupancy rates and rent growth stand out as a bright spot when compared with the rest of commercial real estate sectors, many of which turned in a lackluster performance over the past year. Student housing rental rates at the nation’s top 175 universities increased an average of nearly 8 percent in the 2022-2023 academic year while occupancy in the fall of 2023 was 150 basis points higher than the average occupancy rate over the five preceding falls, according to Berkadia’s 2023 Student Housing Pipeline Report.  Pre-leasing heading …

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Annex-Memphis

In a way, the dynamics of public-private partnerships (P3s) are the same as they’ve always been.  “The reasons why universities elect to go the P3 route haven’t changed much,” says Michael Baird, managing director of municipal finance for RBC Capital Markets. “For many, the decision is made based on speed to market. This happens when other alternatives can take years — resulting in an opportunity cost of not being able to provide housing to students that need housing now, in addition to increased development expenses as construction costs continue to increase year …

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International

The benefits of investing in and developing student housing abroad are much like the benefits of traveling or even studying abroad. It can open your eyes to other cultures, show you a different way of life and change your perspective on the “right” way of doing things.  “Our international footprint enables us to share best practices from around the world to innovate our developments,” says James Hunt, global head of real estate for GSA International.  But first, you have to understand the various global student housing markets to capitalize on …

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Bixby-College

It would be impossible to write a development or design article without mentioning the elephant in the room — the state of the capital markets and the current hurdles in securing financing of any sort, but especially for new development projects. While demand for new communities exists in many markets, getting projects to pencil is the tricky part. For those developments that can move forward, innovative architecture and design are being employed to make the projects as functional and efficient as possible. Out are some of the flashier amenities from …

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Haven-Apartments

It’s no secret that the investment sales market has been sluggish this year. But while sales volume is unquestionably slower, investors are still finding stabilized opportunities that are poised to deliver outsized yields in the near term, according to Timothy Bradley, founder of TSB Capital Advisors and principal with TSB Realty.  Most of the properties that are transacting can be found in Power Five university markets, or those that exhibit similar supply and demand metrics, notes Bradley. And the investors making these deals pencil tend to be experienced in the …

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