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FeaturesFrom The Magazine

Contractors Face Uncertain Materials Costs, Lull in Activity Due to COVID-19 

by Katie Sloan

Rising construction materials costs have been one of the biggest stories of the pandemic era. When COVID hit, many factories ramped down production. In addition, some raw materials industries had challenges like tariffs, natural disasters and COVID-related slowdowns. When construction continued during the pandemic, supply suffered and pricing rose dramatically. This has been especially true for lumber and steel, but natural disasters in areas like Texas have even hampered manufacture of other goods, like appliances.  Student Housing Business spoke to six general contractors to get their take on the student …

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NewsWashington, DC

Chronicle of Higher Education Releases List of Colleges to Require Students, Employees to be Vaccinated Against COVID-19

by Katie Sloan

Washington, D.C. — As colleges and universities prepare for fall semester, one of the major questions at hand is whether or not COVID-19 vaccinations will be required for students or employees. The Chronicle of Higher Education has identified 336 campuses thus far that will be requiring vaccination for either students, employees or both. The Washington, D.C.-based newspaper has released a map showing the locations of colleges requiring the vaccine, with continuously updated coverage as university protocols are released. Click here to read the Chronicle’s research in-full.

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DevelopmentFloridaNews

ACC, Walt Disney World Resort Provide Update on Disney College Program

by Katie Sloan

Orlando, Fla. — Walt Disney World Resort has announced that it is relaunching its Disney College Program in June 2021. Participants in the program are expected to begin to occupy Flamingo Crossings Village in Orlando — a 10-phase, $615 million residential development being built in partnership with American Campus Communities (ACC) — as early as this summer.  Construction is underway on the multi-phase project, with four of the 10 planned phases currently complete. ACC is actively communicating with Walt Disney World Resort regarding the near-term timing and pace of occupancy, and will …

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Company NewsNewsTexas

American Campus Communities Provides First Quarter Financial Results, Environmental Initiative Update

by Katie Sloan

Austin, Texas — American Campus Communities (ACC) has reported financial results for the first quarter of 2021 and provided an update on the company’s environmental initiatives.  First Quarter Operating Results ACC’s revenue for the first quarter of 2021 totaled $232.7 million, down from $249.4 million during the first quarter of 2020. Operating income for the quarter totaled $46.4 million compared to $115.5 million last year, which included a $48.5 million gain from the disposition of one owned property. Excluding this gain, the decrease in revenue and operating income was primarily …

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FeaturesFrom The Magazine

Tier 2 and 3 Markets Struggle Against COVID-19 Headwinds

by Katie Sloan

The student housing sector has been touted as pandemic-resistant over the course of the last year, and for the most part, that sentiment rings true. Many markets showed resilience in rent payments, and leasing levels, as well as maintaining investment and development activity even in the face of the many challenges brought on by COVID-19. But while communities near Power Five universities have had a relatively banner year, Tier 2 and 3 markets saw their fair share of struggles over the course of 2020. Enrollment rates at colleges and universities …

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NewsWashington, DC

NMHC Publishes Guidance on Rental Assistance, COVID-19 Aid Packages

by Katie Sloan

Washington, D.C. — The National Multifamily Housing Council (NMHC) has published information on accessing rental assistance provided through COVID-19 aid packages.  In December 2020, Congress passed the Consolidated Appropriations Act, which allocated $25 billion to the Treasury Department to create a new Emergency Rental Assistance program (ERAP). As states begin to open enrollment, the NMHC has worked with Congress and the Treasury Department to ensure the program is administered in an efficient and effective manner that works for both residents and property owners/managers. In an effort to clarify specific provisions …

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FeaturesIndustry Voices

Carol Binzer Discusses the Impact of Winter Storms at Texas A&M University

by Katie Sloan

Winter storms spread across the U.S. in late February, bringing ice and snow to states not typically synonymous with below freezing temperatures. One such state was Texas, where brutal winter storms caused millions to lose power and pipes to burst at a level that led to water disruptions for roughly half the state’s population, according to reports by CNN. Student Housing Business spoke with Carol Binzer, director of administrative and support services with residence life at Texas A&M University, on the university’s response to the unprecedented winter weather and its …

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CaliforniaDevelopmentNewsOn-campus

Santa Rosa Junior College Delays Student Housing Development Due to COVID-19

by Katie Sloan

Santa Rosa, Calif. — Santa Rosa Junior College has delayed the construction of its planned on-campus student housing project by one year due to the COVID-19 pandemic, according to local news reports. The 360-bed development was announced in 2019 and is being built in a public-private partnership with Servitas. The property will be the college’s first on-campus housing, offering floor plans ranging from single- and double-style units to four-bedroom, apartment-style units with prices starting at below market rate for students.

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FeaturesIndustry Voices

Student Housing Rounds COVID-19’s Twists and Turns, Light Shines at the End of a Long Tunnel

by Katie Sloan

By: Kevin Larimer and Brandon Buell, Senior Managing Directors of Student Housing at Berkadia Throughout the COVID-19 pandemic, confidence fluctuated around the performance and resilience of student housing properties. Understandably, commercial real estate investors pressed pause at the beginning of last year, as there was no way to know what this global pandemic meant for property performance. However, with steady collections for student housing throughout the year, confidence quickly regained.  Towards the end of last year, occupancy was just shy of 90 percent and nimble investors who took notice started …

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AlabamaNews

Capstone Establishes Seed Fund to Help Students Afford Higher Education

by Katie Sloan

Birmingham, Ala. — Capstone Development Partners has launched a new corporate program named Stepstone in support of improving access to higher education. An initial investment of $100,000 was seed-funded by principals of Capstone in December 2019 and has been annually augmented through the contribution of a percentage of the Birmingham-based company’s profits. This money will be used to fund scholarships placed with institutions and managed by foundations or college and university administrators to provide housing or tuition assistance to students who have a compelling financial need. The first Stepstone scholarship …

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