The student housing sector continues to be an attractive market to investors. With Generation Z students and millennials applying to grad schools, demand for on-campus and off-campus housing is increasing. According to Frederick W. Pierce, the CEO of Pierce Education Properties, student housing is a leading property type. This sector is worth billions of dollars, and below are five student housing projects that are currently in the works:
- Clemson University // Clemson, South Carolina
- August 2017
Stonemont Financial Group takes on Clemson University’s new 45 bedroom student housing community. This mixed-use includes utilities, two and four bedroom options, Wi-Fi, furniture, and washer and dryers. Plaza One89 is considered a “luxury community” due to the amenities and the location. Construction began back in Fall 2016, and it will be open to students next semester!
- New Jersey City University // Jersey City, New Jersey
This housing community that is only three blocks from main campus will have 163 units that range from studio to two-bedroom units. These rooms will include walk-in closets, hardwood floors, and stainless steel appliances. HFF took on this project for $32.5 million and has been working on it since September 2013. The final phase of University Place will include 425 beds and about 600 units, retail space, an indoor lounge, and a courtyard!
- California State University Long Beach // Long Beach, California
This upcoming development in downtown Long Beach will cater to off-campus students and will consist of classrooms, lab space, and 800 units of student housing. Studio One Eleven is in charge of designing this project. Robert Garcia, mayor of Long Beach, is hoping that this development will bring more “economic opportunities and academic partnerships.” Construction will begin at the end of this year.
- Iowa State University // Ames, Iowa
- Summer 2018
Unofficially named, this upcoming 320,000 square foot housing community will be extremely close to campus and will feature 157 apartment units, 537 beds that will range from studio to four-bedroom floorplans, retail space, outdoor decks, an outdoor hot tub, gyms, study rooms, and more! The complex will also include free Wi-Fi and in-unit washer and dryers. River Caddis Development and EdR teamed up to work on this project that will enhance the city of Ames for nearly $52 million.
- California State University Sacramento // Sacramento, California
- August 2018
This $75 million project just started construction. It will feature 225 units, 750 beds, a swimming pool, basketball court, and a Center for Innovation. The residences will all be fully furnished and each student will have his or her own room. This building will also be eco-friendly with Energy Star appliances. AMCAL Equities is responsible for this development.
Via Tiffany Ko.