On-Campus and Off-Campus Student Housing Financing and Development
There is a significant opportunity available today in the on and off-campus student housing market. Due to the expansion of collegiate student populations, a critical shortage of on-campus and off-campus housing currently exists throughout the United States. The development opportunity created by this shortage of housing stock is further supported by the latent demand for creatively programmed and well-constructed student housing properties. First and second generation developments have failed to incorporate the technological sophistication demanded by the current student population. As a result, favorable rental rates and unit absorption rates can be expected due to the combination of this unsatisfied demand and aging supply vulnerable to new competition.
Regarding on-campus development opportunities, there is a growing trend toward public/private joint ventures in which the resident college or university enters into long-term leasing arrangements with private developers. WRC’s experience brings value added to the financing, development and management of these complex transactions.